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Govt asks manufacturers to cut price of 3 anti-cancer drugs
In line with the government's commitment to ensure the availability...
Updated regulation on curbing spam calls likely by Jan, says Trai chairman
The Trai Chief said series of measures taken over the past months...
Marsh & McLennan receives final regulatory approvals on buying JLT on April 1
The $5.6 billion deal, which was hammered out in about 11 days between MMC CEO Dan Glaser and JLT Group CEO Dominic Burke, looks to b one of the largest ever involving insurance brokers. Last year, KKR & Co. and Canada’s Caisse de Depot et Placement du Quebec acquired USI Insurance Services for $4.3 billion
U.S weighs bids for putting Automated Vehicles on roads
he agency also disclosed that Softbank-backed driverless delivery startup Nuro had also petitioned to deploy a limited number of low-speed, highly automated delivery vehicles intended to be operated without any human occupants. For example Nuro, which partnered with Kroger last year to deliver groceries, seeks approval not to include a windshield in the vehicle.
Govt to soon start selection process for new PFRDA chairman
Contactor is the first Chairman to head the regulatory body. He had joined PFRDA on October 7, 2014.As per the Act, the chairman will have a tenure of 5 years or till age of 65 years, whichever is earlier.
Govt sets up a high level panel under IRDAI chairman to overhaul Indian insurance sector
The panel which has been constituted by the Prime Minister Economic Council(PMEC) to bring about sweeping changes in the Indian insurance sector including examining the lacunae in the existing various acts governing the insurance industry and has been given time frame of six months to prepare the report
HDFC Ergo provides Title Insurance for Mumbai’s real estate project
Title insurance has been developed stemming from the requirement of the Real Estate Regulation and Development Act 2016 (RERA), which mandates the purchase of Title Insurance for all new and ongoing property developments registered with the regulatory body, once notified by the State Governments.
IRDAI seeks proposal from LIC on stake reduction in IDBI Bank
“We will decide on the timeline (for stake reduction by LIC in IDBI Bank). We are not leaving it to them. I have asked them (LIC) to give a proposal and after that we will take a decision,” IRDAI Chairman Subhash Chandra Khuntia said on the sidelines of an event organised by Ficci here.
IRDA prepares stringent norms to check conflict of interest among officials of insurance cos
Where the insurer becomes aware of the conflict of interest situation, immediate steps shall be taken by the insurer to ensure that the powers / authority delegated to such a Director or Officer is ceased and he / she is not allowed to participate in the day-to-day activities of the company
IRDAI pulls up insurers for non- compliance of Insurance Ombudsman awards
According to TS Naik, general manager,Consumer Affairs Department, IRDAI, the regulator has found good deal of data showing many lapses committed by the insurers with regard to the compliance of orders of Insurance Ombudsman.
IRDA has no plans to dismantle motor 3rd party tariff regime:Khuntia
When asked about any possibility of removing the third party motor segment from tariff regime S C Khuntia, Chairman, IRDAI, on the sidelines of the 20th Global Conference of Actuaries, said, “Often general insurers complain us that tariff was not adequate and they are bleeding due to the loss making portfolio.. However, if it is detariffed, a cut- throat competition will begin. We are looking at various options on the issue.’’
Title Insurance fails to pick up due to high cost
M.S Chockalingam, settlement commissioner, Government of Maharashtra,said,though such a product is already made mandatory in the Act, the state government has to notify the mandatory feature of the product separately.