The inquiry was opened five years ago after Meta notified Ireland’s...
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California sues Exxon over global plastic pollution
California Attorney General Rob Bonta said the state sued Exxon...
Fragmented laws not enough, says ex-SC judge; calls for comprehensive climate law in India
Hima Kohli, Retired Supreme Court judge Justice "There is a...
Insurtech:Number of insurance patents filed jumps 40% in a year
RPC says that insurance patents filed last year were for innovations as diverse as the use of a system that checks whether a self-driving car is operating autonomously and switches between insurance policies automatically, and a mobile app to speed up the claims process for people affected by natural disasters.
India jumps 23 places to 77th in ease of doing business ranking
The report recognises India as one of the top 10 improvers in this year’s assessment, for the second successive time. India is the only large country this year to have achieved such a significant improvement.
An evolving economy needs dynamic regulation, says Arun Jaitley
“I think…now that we are evolving as an economy, where all regulation needs to be relaxed or needs to be altered depending on the ground situation, I think this would be quite useful in the whole process,” he said.
IRDA proposes changes in product designs of life and pension products
Minimum death benefit has been made 7 times for regular premium products and 1.25 times for single premium products for all ages,.Non-linked policies to acquire guaranteed surrender value after 2 years, Revival period extended to 5 years from the current 2 years in respect of non-linked products,In respect of pension products, option for commutation up to 60 pension allowed,
Insurers call for delay in implementing “IFRS 17” rule by 2 yrs to Jan 2023
Nine national and regional insurance industry bodies from Europe, Canada, Korea, New Zealand, Australia and South Africa want the International Accounting Standards Board (IASB) to amend and delay its “IFRS 17” book-keeping rule by two years to January 2023
“Data analytics & security’ have to go together :IRDAI Chief
Irda is also keen on introducing regulations on risk-based capital.A paper to this effect has already been circulated to all the insurers. These companies, who can manage their risks, their need of capital will be less. IRDAI will also focus on risk based supervision afterwards, he said.
IRDAI forms panel to examine if insurers can pay PA claims & Benefit Based Health Policies in installments
According to IRDAI,some general and health insurance companies have proposed payment of claim benefits in installments that will enable the beneficiaries / claimants to receive payments in a series of pre-determined installments.
Banks, telcos may be allowed to use Aadhaar again via legislation: Jaitley
The Supreme Court had last month upheld the Constitutional validity of Aadhaar, the 12-digit biometric-based unique identity number, but restricted its use by private entities like telecom operators for verifying the identity of mobile phone users
IRDA’s nod for Anil Ambani’s Reliance Health Insurance
Anmol Ambani, Executive Director, Reliance Capital had said “Traditionally, heath insurance was part of our general insurance set-up. But to create retail focus we are setting up a standalone health insurance company.” said Anmol is the eldest son of Reliance ADAG Chairman Anil Ambani.
Pakistan approves first Islamic reinsurance service
Islamabad: Pakistan’s capital market regulator has granted approval to the country’s sole reinsurer to offer sharia-compliant reinsurance, part of efforts to boost the fledgling Islamic insurance (takaful) sector.The Securities and Exchange...