Expressing concern over the rising sums of money lying in such...
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wefox agrees to sell insurance carrier to a group of Swiss companies led by BERAG
wefox has agreed to sell the insurance company to a group of Swiss...
Health, life insurance premium to fall if GST Council decides to reduce taxes on premium: FM
Nirmala Sitharaman, Finance Minister "…The matter of review of GST...
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.
Global accounting body proposes one-year delay to insurance rule
“While it is good that the IASB Board has at last recognised the need to consider improvements and a delay to IFRS 17… one year is simply not enough time to both fix the problems with IFRS 17 and to give insurers enough time to implement the standard properly,” said Olav Jones, deputy director general of Insurance Europe, an industry body.
After Google, Facebook scraps forced arbitration in sexual harassment cases
The technology industry, known for its groundbreaking products as well as its trendsetting office culture, has gone to considerable lengths in recent years to keep work-force disputes out of the court system. Forcing employee complaints into arbitration has become as common as free lunches and shuttle buses to the office.
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.