by AIP Online Bureau | Aug 30, 2024 | Indian News, Life, Policy, Regulation
The case is part of broader investigation into over a dozen Indian insurers for alleged evasion of $610 million in unpaid taxes, interest and penalties. The roughly $26 million in fake invoices were used by Aviva incorrectly to claim tax credits and evade $5.2 million...
by AIP Online Bureau | Aug 28, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
Insurance industry sources said on Wednesday additional war risk premiums, paid when vessels sail through the Red Sea, were quoted up to 0.75% of the vessel from 0.4% before the attack, although they were higher at 1% in February according to industry assessements of...
by AIP Online Bureau | Aug 24, 2024 | Indian News, Non-Life, Reinsurance, Technology
Shivraj Singh Chouhan ,Union Agriculture Minister On August 22, the Department of Agriculture and Farmers Welfare held a meeting of the National Technical Advisory Committee (TAC). The committee rejected the insurance company’s objections to crop-cutting...
by AIP Online Bureau | Aug 15, 2024 | Articles, Eco/Invest/Demography, Health, Non-Life, Reinsurance
Experts argue in favour of removal of 18% GST on Health covers to boost insurance penetration “If GST is removed, a straight 18% less in amount will keep people from choosing higher sum-insured or better policy coverages in the same amount” Rakesh Jain,...
by AIP Online Bureau | Aug 14, 2024 | Eco/Invest/Demography, Indian News, Life, Non-Life, Reinsurance
The insurance regulator IRDAI can now announce the date of adoption of the new standards by the Indian insurance industry. The new framework would require domestic insurers to further bolster their disclosure needs, leading to greater transparency and informed...
