The labour codes establish distinct definitions for 'employee' and...
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Bima Gram API to strengthen rural coverage, says insurance industry
The Bima Gram API maps postal PIN codes to Local Government...
IRDAI chairman Seth meets Indian reinsurers
Ajay Seth, chairman,IRDAI ``It was an introductory meeting and had...
No retail general insurance claims can be rejected for want of documents, have to be settled within 7 days of survey report: IRDAI
The insurer has to decide on the claim within seven days of receipt of the survey report. This condition will not apply in case of policies issued on the property/building on reinstatement value basis. Any delay in settlement of the claims beyond the above stipulated...
IRDAI asks general insurers to provide `Customer Information Sheet’ to all of their retail policyholders
The IRDA has outlined 14 key points which have to be mentioned mandatorily in the `Customer Information Sheet' by the general insurers with immediate effect This is a positive step towards making insurance more customer-friendly, ensuring smoother claims services, and...
Jun 10 interview for IRDAI’s member, Non-life, postponed, new date yet to be fixed
After SK Rath, general manager(GM), GIC Re dropped out of the race, CS Radhika, GM, United India Insurance (UII) has been added to the list of five contenders New Delhi: In a last minute development, the government has postponed the interview scheduled on June 10 for...
RBI maintains status quo in repo rate at 6.5 pc, growth projection raised to 7.2%
Shaktikanta Das, Governor,RBI "Uncertainties related to food inflation need to be monitored. Need inflation reduction to 4 per cent level on a durable basis while supporting growth," RBI Governor Shaktikanta Das said Mumbai: The Reserve Bank of India(RBI) on Friday...
Bima Sugam: IRDAI forms an interim board for project, new company and CEO by month end
Headquartered in Mumbai, the entity would now be incorporated as a Section 8 (non-profit) company under the name ‘Bima Sugam India Federation’. The members of its interim board are are- Rakesh Joshi, former member, IRDAI, Naveen Tahilyani, MD&CEO, Tata Digital,...
Delhi ACB uncovers alarming discrepancies in 44 private hospitals
The ACB inspected 62 medical facilities in Delhi, revealing several were operating without proper licenses, safety measures, or registration certificates New Delhi: The Anti-Corruption Branch (ACB) of Delhi has uncovered alarming discrepancies in 44 private hospitals,...
Google ad tech class action gets go ahead from London court
Should the claimants prove that the Alphabet Inc. unit preferred its online advertising services over competitors between January 2014 and November 2022 they estimate damages as high as £13.6 billion ($17.4 billion) The UK’s Competition Appeal Tribunal unanimously...
RBI approves Zurich Insurance deal to buy 70 per cent in Kotak General Insurance
In February, Zurich Insurance had said it would acquire a 70 percent stake in the insurance company for Rs 5,560 crore in a single tranche New Delhi: Kotak Mahindra Bank on Wednesday said it has received the Reserve Bank of India's (RBI) approval to sell a 70 per cent...
Kirloskar group’s Arka Fincap receives IRDA license for corporate agency
Mumbai: Arka Fincap Limited, a NBFC and subsidiary of Kirloskar Oil Engines Limited (KOEL), has been granted license to act as a corporate agent (composite) by the Insurance Regulatory and Development Authority of India (IRDAI).Vimal Bhandari, executive vice chairman...
PNB to sell 10% in Canara HSBC Life
PNB's board in its meeting held today has accorded its approval for initiating the process of diluting 10 per cent stake of the bank in Canara HSBC Life Insurance Co Ltd, an associate company of the Bank, by listing the company in stock exchanges (BSE/NSE) through...