The move comes two days after the government — in a rare move —...
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Chinese cyber association calls for review of Intel products sold in China
The industry group goes on to state that operating systems embedded...
Marsh fined Rs1 crore by IRDAI for violating Indian re/insurance regulations
The broker did not remit the premium to the insurer/reinsurer...
GST Council cuts 3rd party motor insurance rates to12% from 18%
Commercial vehicle owners have been asking for a rate cut as the mandatory tax makes the vehicles expensive. They believe that a reduction in tax rate will also help increase the insurance cover, which at present is only 50 percent of all vehicles
Cryptocurrency industry faces insurance hurdle to mainstream ambitions
“Most institutionally minded crypto firms want to buy proper insurance, and in many cases, getting adequate insurance coverage is a regulatory or legal requirement,” said Henri Arslanian, PwC fintech & crypto leader for Asia.
Govt plans Rs 12,000-levy on petrol, diesel cars to spur EV demand: Report
Under a new policy that is nearing finalisation, National Institution for Transforming India (NITI), a government policy think-tank, has proposed incentives of up to Rs 25,000 -50,000 be directly transferred to EV buyers, ensuring that gains are not pocketed by auto manufacturers, government officials told TOI.
IRDAI Board to meet on Dec 21, may allow new players
Some well known names like Paytm and Indiabulls group and a few other companies, backed by Private Equity Funds, have already applied for licenses some time ago, to float life , general and exclusive health insurance companies to the IRDAI.
IRDAI asks insurers to inform policyholders via SMSes on receipt of premium from Jan
Wherever the mobile phone number of the policyholder is available in policy records with the insurer, the receipt of premium by the insurer under a policy shall be immediately informed to the concerned policyholder on his mobile phone number by an automatic SMS generated by the system, it said in the order.
RBI to bring ‘ombudsman scheme’ to solve digital transaction complaints
With the digital mode for financial transactions gaining traction in the country, there is an emerging need for a dedicated, cost-free and expeditious grievance redressal mechanism for strengthening consumer confidence in this channel.
IRDAI proposes changes in registration norms for insurance marketing firms
IRDAI has also proposed expansion of the basket of products which can be solicited or procured by an IMF to include group insurance products for Micro Small and Medium Enterprises (MSMEs), crop insurance for non-loanee farmers and combi products
IRDA rejects Prem Watsa’s deal to acquire Sudhir Valia’s ITI Reinsurance
Though , the IRDAI is yet to inform both the parties and reveal the exact reason for rejecting the deal, sources points out that the insurance regulator decision much to do with the fact that ITI Reinsurance hadn’t done any business in the last two years after getting a license in 2016 end and deal with Pram Watsa would have been just a `trading of license’ which is not permitted under regulations.
E&Y outbids BCG & Oliver Wyman to bag merger deal of 3 PSU general insurers
“Yes, E& Y has quoted the lowest charges for undertaking the whole exercise and we as public sector companies have to go by the lowest bidding ,’’ said sources at one of the merging companies
UK Companies Prepare for Disorderly Brexit and Supply Chain Disruptions
A.M. Best expects, however, that UK companies will still be able to underwrite reinsurance business on a cross-border basis post Brexit, in all but a small number of EEA jurisdictions.