by AIP Online Bureau | Jun 10, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Issuance of the bonds, including non-property and private transactions, reached an all-time high of more than $16 billion in 2023. The current value of outstanding cat bonds stands at $49 billion, Artemis estimates. Crucially, last year saw relatively few weather...
by AIP Online Bureau | Jun 10, 2024 | Indian News, Non-Life, Regulation
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...
by AIP Online Bureau | Jun 10, 2024 | Eco/Invest/Demography, Indian News, Policy
Nirmala Sitharaman, Union Finance Minister Sithraman, who will be presenting the full Budget for FY 24-25 in July, is expected to introduce bills soon for amendments to the Insurance Act, 1938, and the IRDAI Act to allow composite licensing for insurers New Delhi:...
by AIP Online Bureau | Jun 10, 2024 | Indian News, Non-Life, Regulation, Reinsurance
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...
by AIP Online Bureau | Jun 10, 2024 | Data, Eco/Invest/Demography, Policy
Sales of passenger vehicles – hatches, sedans and SUVs – by manufacturers to dealers have risen to record high levels over the last two years in India and are estimated to hit new all-time highs in the financial year 2025 as well BENGALURU: Retail sales of cars in...
