S Krishnan, secretary, MeitY, highlighted the critical role of the...
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General Insurance industry grows 28% to Rs 30,378 crore in Oct
In a note worthy trend, seven stand alone health insurers have now...
IRDA asks general insurers not to report premiums and commission for long term policies at one go
``Currently, only long-term Motor Third Party (TP) premium is...
Fintech panel suggest legal framework to protect digital services consumers
The panel has also recommended that insurance companies and lending agencies be encouraged to use drone and remote sensing technology for crop area, damage and location assessments to support risk reduction in insurance/lending business.
Insurance broking body opposes 100% FDI in the sector
In an earlier missive to the chairman of the insurance regulator IRDAI SC Khuntia, the IBAI has said, “ An online survey of brokers was conducted where a slight majority (51%) were against FDI being increased and a significant majority (49%) were in favour. The IBAI work on the basis of the majority view and it is this context that the IBAI would like to reiterate the stand that it has consistently taken which is that FDI at this stage is not recommended for the industry.
Silent-cyber claims expectations decline across insurance lines and industry groups:Willis Re
Silent cyber risk refers to cyber losses which affect insurance policies that have not been specifically designed to respond to cyber incidents.
IRDA begins pilot projects to boost auto insurance
Last year, the life insurance segment has grown by 11 per cent, general insurance segment has grown by 12 per cent and health segment has grown by 20 per cent, while standalone health insurers have grown by 37 per cent
IRDA pulls up Bharti AXA General Insurance on furning wrong data
Taking into consideration the submissions by the company to the IRDAI, the regulator has warned the company to be careful in future while furnishing data to it.`The insurer is hereby advised to put in place proper checks for furnishing correct data and is also directed to ensure compliance with the extant applicable regulatory provisions hereafter, added IRDAI
President gives assent to Motor Vehicles Bill
Driving without insurance will be punishable with Rs 2,000 fine, while driving without helmets will attract Rs 1,000 penalty and three-month suspension of licence.
SAP and Swiss Re expands its joint co-innovation initiative for financial reporting
Our close partnership with Swiss Re has helped us create an exceptional customer experience across the insurance and financial sectors,” said Luka Mucic, SAP CFO and member of the Executive Board of SAP SE.
Inter-ministerial group suggests banning of private cryptocurrencies in India
“The committee is of the view that it would be advisable to have an open mind regarding the introduction of an official digital currency in India,” the report said.
IRDAI cautions Reliance Nippon Life on expense management
-According to the IRDAI rulings on Friday , the insurer has neither furnished the Certificate from the appointed actuary nor demonstrated that the interest of the policyholders was not affected due to the excess of expenses over the prescribed limits.
-The insurer is found to have contravened provisions of section 40B of the Insurance Act, 1938 with respect to non-compliance of the limits prescribed for expenses of management, said IRDAI.
Fed’s Bullard sees cryptocurrencies shifting US financial system
While it is possible for multiple currencies to exist simultaneously and lead to more voluntary transactions, “in the real world, some of these now-enabled transactions may be illegal or quasi-legal,” he said.