"Large-scale irregularities came to light (in the previous scheme)....
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ICICI Lombard general insurance net profit rises 29% to Rs 747 crore in Q1FY 26
The insurer's Combined Ratio, a key metric that compares claims and...
Irdai forms panels to look into violations by insurers
"As part of enforcement function, to decide on the violations...
Lloyd’s broker unveils product for crypto and digital asset businesses
The product, named Daylight, will help digital asset businesses secure insurance and manage risks more easily. Daylight uniquely combines cutting-edge machine-learning technology with the expertise of Superscript's digital asset insurance brokers Superscript will...
NDMA reviews preparations ahead of monsoon, plans NDRF deployment in flood-prone areas
Use of Damini App, Nowcast, as also various Google alerts for effective early warning dissemination was emphasised to achieve a target of zero mortality in the coming monsoon season, an official statement said New Delhi: The monsoon this year is likely to be normal...
Over 1.4 lakh Bengal farmers to get crop insurance due to unseasonal rain: Minister
''There has been crop loss in both West and East Midnapore, Hooghly, South and North 24 Parganas districts. Nearly 1.44 lakh farmers will be getting insurance worth Rs 112.8 crore,'' Chattopadhyay told PTI Kolkata: West Bengal Agriculture Minister Shobhandeb...
IRDAI grants compliance relief to general insurers and FRBs
Further IRDAI has decided that the FRBs and Lloyd’s India need not publish the half yearly and annual Revenue Account, Profit & Loss Account, Balance Sheet and Analytical Ratios etc. in the newspapers Hyderabad: Providing compliance relief, the insurance regulator...
Assisted driving systems struggle with collision tests: US consumer body
A fast-growing number of new vehicles are equipped with Automated Driver Assistance Systems, or ADAS, that partially automate functions such as steering, staying in a lane and braking. Tesla’s Autopilot is one of the best-known such systems, but most major automakers...
Covers for Home, Micro and Small Businesses can be tailor-made: IRDAI
The new move will enable insurance companies to broaden the coverage already provided in the standard products by offering innovative add-ons or varying the existing provisions to meet the needs of the policyholders in terms of suitability and affordability Hyderabad:...
`Burning Cost’ can’t be quoted as a ‘mandated minimum rate’ to charge premiums by general insurers” IRDAI
Allowing general insurers to extend appropriate discounts, IRDAI has explained that ``The objective of Insurance Information Bureau of India (IIBI) publishing details of ``Burning Costs'' occupancy-wise is only to give information to insurers with regard to...
AXA S.A. receives regulatory approval to operate as a licensed reinsurer
The transformation of AXA S.A into the group’s internal reinsurer aims to enhance capital fungibility across AXA Group** , in line with AXA’s capital management policy Paris: AXA announced that AXA S.A., the holding company of AXA Group, has obtained its reinsurance...
Lloyd’s of London AGM goes virtual on activist threat
Since Lloyd’s sent out invitations for the May 19 AGM on April 19, “the risk of disruption has significantly increased,” Chairman Bruce Carnegie-Brown said in a notice on the market’s website dated May 10 London: Commercial insurance market Lloyd’s of London is...
Indian insurers shell out Rs 42,000 crore to settle 28 lakh Covid-19 claims in last 2 yrs
24 life insurers led by Life Insurance Corporation have paid Rs 17,362.48 crore for settling 2,27,268 Covid death claims Similarly, 30 functioning general insurance companies, including five exclusive health insurers, have already paid over Rs 26,000 crore for...