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Strengthen framework to curb unethical practices RBI Guv to bank boards
"While such practices may yield short-term gains, they ultimately...
8th Bima Manthan: IRDAI and Insurers brainstorm implementation of IFRS and Cyber security measures
In an era where digital transformation is reshaping industries,...
Sebi panel recommends seeking powers to tap phone calls
The committee suggested a series of changes in rules on market frauds, insider trading, surveillance and investigations, while recommending mandatory whistleblower policies at listed firms and a searchable list of all immediate relatives and persons living at the same address with those in possession of price-sensitive information
Tests expose risks of Semi-Autonomous driving systems
The Insurance Institute for Highway Safety, in a paper titled “Reality Check,” issued the warning Tuesday after testing five of the systems from Tesla, Mercedes, BMW and Volvo on a track and public roads. The upshot is while they could save your life, the systems can fail under many circumstances.
Concerns mount over Data Privacy Guidelines set by Genetic-Testing companies
Under the guidelines, genetic-testing companies must obtain “express consent” before sharing an individual’s data with third parties. They can’t hand it over to employers, insurance companies, educational institutions, or government agencies without being legally compelled
IRDAI to unveil stringent customer data protection regulations vis-a-vis Insurtech
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The use of technology has an impact on product design and the efficiency of inclusive insurance delivery. However, it can pose certain risks.Data capture may pose several concerns and challenges, said IRDA’s Working Group’s report
SAS supports Insurers to meet IFRS 17 compliance
“The disparate nature of incumbent accounting systems, actuarial tools and data sources, conventionally with weak workflow and integration capabilities, will pose a significant hurdle for insurers to overcome in complying with IFRS 17, particularly as many grapple with IFRS 9 compliance in tandem,” said Cubillas Ding, Research Director at Celent
Asian life insurance regulations are still ‘rules-based’: Milliman
The different markets are at very different stages of evolution—in general economic, social and demographic terms and in respect of the maturity of their various life insurance industries. Consequently, the insurance regulatory regimes vary significantly across the markets, often making it difficult for insurers to keep track of how the regulations change across the region.
Mathur panel to check `exclusions’ in health insurance policies
The committee, headed by S Mathur, executive director, IRDAI, will deliberate issues like, exclusions that are prevalent in the health insurance policies. rationalise the exclusions by minimising the number, so as to enhance the scope of health insurance coverage granted. rationalise the exclusions that disallow coverage with respect to new modalities of treatments and technologically advanced medical treatments.
Financial Services Industry slams latest UK proposal for Post-Brexit EU trade ties
“Having to comply with financial regulations we have no say over would be the worst possible scenario for our world-leading insurance sector, so we will look to the government to negotiate a better outcome than this,” said Huw Evans, the director general of the Association of British Insurers. “Whatever the final outcome, the insurance industry is too important to be a rule taker.”
SC stays SAT order against Joseph
In March 2018, the SAT in a case “about sharing of commission illegally involving Marsh India Insurance Brokers’’had given a judgment charging Joseph of “virtually aiding and abetting corruption”. According to the SC website, the matter will (tentatively) be heard next on August 17
EU Will Not Ease Post-Brexit Market Access for UK Insurers, Banks: Official
City of London institutions have already scaled back expectations of continued full access to the EU from Britain once any transition period ends, or that a novel, bespoke trade deal can be agreed.