The IRDAI passed an order against ICICI Lombard General Insurance...
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AI Phuket flight incident: AAIB preliminary report reveals hydraulic failure, Pilot’s positive drug screening
"In view of a non-negative result for psychoactive substances for...
Nepal Floods Catastrophe:15 non-life insurers report losses of Rs25.87 billion
The scale of the claims is being driven primarily by engineering...
AI Cyberattacks: Global firms warn of ‘Limited Window’ to protect critical infrastructure
OpenAI, Anthropic, Microsoft, Google, Visa and Mastercard are among the signatories to an open letter issued on August 27, which cautioned that existing cybersecurity measures may soon prove inadequate as AI-enabled attacks become more widespread and sophisticated. A...
MGA Framework: A new building block for GIFT City’s global insurance ambition
Going forward, the IFSCA should consider developing a separate regulatory framework for reinsurance MGAs, with distinct eligibility, capital adequacy, and business arrangement norms. More detailed guidance on fit-and-proper standards — particularly for principal...
Meta reaches $16.68 billion settlement over social media harms to children
The settlement resolves claims brought by 29 U.S. states, and will end a federal trial that had been one of the highest-profile tests yet of allegations that social media companies harmed young users. Meta will impose daily usage limits and restrict nighttime usage by...
Breaching EoM: IRDAI restricts Edelweiss Life and Pramerica Life from opening any new branches for next 6 months
IRDAI is committed to ensuring that insurers operate within the regulatory guardrails governing their expenses, thereby promoting sound financial management, transparency and accountability across the insurance sector. It will continue to take appropriate supervisory...
India’s Junk Food Label Battle: Big food fights back
``The threat that warning labels pose to profits means the industry is incentivized "to hold out for as long as possible, not informing the Indian public about the healthiness of the foods that they're selling.Lobbying by interest groups has "almost paralyzed"...
SEBI launches Cyber Suraksha Portal for cyber alerts, vulnerability warning
"Through this portal, market participants can directly access the latest cybersecurity circulars, vulnerability warnings and incident insights," SEBI said Mumbai: The Securities and Exchange Board of India (SEBI) on Monday launched the Cyber Suraksha Portal, a...
SEBI drops fraud allegations against Max Financial, Axis Bank in Rs 3,912-crore case
The scrutiny originated with the Insurance Regulatory and Development Authority of India (IRDAI). In November 2022, IRDAI informed SEBI that MFSL and Axis Bank had entered into a series of buy-and-sell transactions involving unlisted equity shares of Max Life. IRDAI...
TikTok agrees to $400 million settlement in child privacy case in US
“This settlement is a major victory for American children and parents,” said Associate Attorney General Stanley Woodward adding that the department’s priority is ensuring that children are protected online "and that companies entrusted with their personal information...
Breaching Expense Limits: IRDAI bars Acko General and Niva Bupa from opening new branches for 6 months
In both the cases, the insurers failed to comply with limits on expenses of management, which comprises operating costs and commissions paid to agents and distributors, during fiscal year 2024-25, as per the IRDAI statement.Expenses for health insurers should...
8th Health Insurer: Prudential Health India commences operations
Naveen Tahilyani, Regional CEO, Indonesia, Malaysia, the Philippines, India, Africa; Group Agency and Health, Prudential plc, said: “India is a strategically important market for Prudential, with strong macroeconomic fundamentals, rising demand for healthcare, and...