Insurance premium growth forecast in real terms...
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RBI cautions public about ‘deepfake’ video of governor being circulated on social media
In a statement Tuesday, RBI said it has come to their notice that...
CCI restricts WhatsApp sharing data with other Meta entities, imposes $25.4 mln fine
"Sharing of user data collected on WhatsApp with other Meta...
IRDAI forms committee to review corporate governance guidelines for Indian insurers
Four key functions (risk management, actuarial, compliance and internal audit) are an essential part of the system of governance.
These key functions are expected to be operationally independent to ensure an effective and robust internal control environment within an insurer and support high quality of decision-making by the management, said IRDAI.
IRDAI proposes to simplify norms on deductions in health policies
In the health insurance contracts, where there is a sub limit for room rent, in the event policyholder occupying a room with higher tariff, than the one that he is eligible, health insurance products, subject to product design, may stipulate recovery of proportionate deductions in respect of various associated medical expenses, said IRDAI.
Alamelu Panel recommends reduction of tax rates from 40% to 25 % for Indian FRBs
On the fit and proper criteria of Key Managerial Personnel (KMP), the committee has recommended that FRBs , Lloyd’s India will appoint KMPs as per corporate governance guidelines when the book gross premium reaches a level of Rs 5000 crores for the first time.
RBI unveils Yes Bank’s restructuring plans,SBI likely to hold 49% stake
“The matter in regard to Yes Bank was discussed at the meeting of the central board of bank on Thursday and an in-principle approval has been given by the board to explore investment opportunity in the bank,” the SBI board informed the bourses late in the evening.
RBI puts troubled Yes Bank under moratorium,limits withdrawals at Rs 50k
The RBI has also superseded the Board of Directors of Yes Bank for a period of 30 days owing to serious deterioration in the financial position of the Bank.
Prashant Kumar, ex-DMD and CFO of State Bank of India has been appointed as the administrator of the bank.
SAT rejects IRDA order, allows sale of pledged Reliance General insurance shares
Rejecting the IRDA’s Dec 27 order, the SAT in its order on Thursday has asked the IDBI Trusteeship Services, that is holding the pledged shares as a custodian, to make every endevour to find a suitable buyer for the pleged shares.
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“ As and when a suitable buyer is found suitable application would be made before IRDAI for appropriate approval to enable the IRDAI to carry out due diligence and to ascertain fulfillment of Fit and Proper criteria, financial soundness,’’ said the SAT order .
G Srinivasan panel to examine if life insurers can sell indemnity based health products
General Insurance Council had been vehemently opposing the proposal.Even Kumar, chairman, LIC was not supportive of the idea of life insurers selling indemnity products.
US lawmakers to introduce bipartisan Bill aimed at internet firms’ Liability shield
The move is the latest example of how regulators and lawmakers in Washington are reconsidering the need for incentives that once helped online companies grow, but are increasingly viewed as impediments to curbing online crime, hate speech and extremism.
No plans to make listing mandatory for insurers:IRDAI chief
“I would like to encourage companies to weed out products which are not selling and simply adding to the number, then they will be able to manage those products well,” chairman S C Khuntia said, adding that the plea was made at a meeting with chief executives recently”
Irdai expresses concern over high hospital tariffs plans to standardise charges
“Hospitals keep on changing tariffs on a regular basis. There is no body to check that. The regulator does not allow insurance companies to raise premium every year though there is around 10-15 per cent inflation of hospital charges at present,” Alamelu said.