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Panda wants Bima Sugam up and running by Apr 19, 2025 coinciding with IRDAI’s 25th foundation day

Panda wants Bima Sugam up and running by Apr 19, 2025 coinciding with IRDAI’s 25th foundation day

by AIP Online Bureau | Apr 14, 2024 | Health, Indian News, Life, Non-Life, Regulation, Technology

Debasish Panda, chairman, IRDAI Apr 19,2025, is the 25th foundation day of the Hyderabad based regulator and IRDAI chief chosen that day to launch Bima Sugam , which is expected to usher in the `UPI moment’ in the Indian insurance industry Mumbai: Debasish...
Who Will Pay for the Baltimore Bridge Collapse?

Who Will Pay for the Baltimore Bridge Collapse?

by AIP Online Bureau | Apr 7, 2024 | Articles, Non-Life, Reinsurance, Risk Management

Experts in maritime law and insurance said determining liability was particularly complex because of the many parties involved, from shipowners in Asia to insurers in Europe to companies around the world that move goods in and out of Baltimore. Numerous lawsuits are...
IRDAI asks insurers to keep their branches open on Mar 30- 31

IRDAI asks insurers to keep their branches open on Mar 30- 31

by AIP Online Bureau | Mar 28, 2024 | Health, Indian News, Life, Non-Life, Regulation

`Insurers may take note of the above and give adequate publicity to the special arrangement made as above,” said the IRDAI on Thursday Hyderabad: Like its banking counterpart Reserve Bank of India(RBI), insurance regulator IRDAI has also asked insurers to keep...
Who Will Pay for the Baltimore Bridge Collapse?

Insurers could face record losses of up to $4 bln after Baltimore bridge tragedy, AXA is lead reinsurer

by AIP Online Bureau | Mar 27, 2024 | Breaking News!, International News, Non-Life, Reinsurance, Risk Management

Claims could total up to $4 bln, record for shipping disasterInsurance lines affected include property, marine, liabilityInternational Group of P&I marine insurers have reinsurance cover of $3.1 blnAXA lead reinsurer on first layer of IG reinsurance...
IRDAI asks insurers to keep their branches open on Mar 30- 31

After pricing, IRDAI now allows general insurers freedom of wordings in corporate policies from Apr 1

by AIP Online Bureau | Mar 25, 2024 | Indian News, Non-Life, Regulation, Reinsurance, Risk Management

Now, the insurers can change terms, conditions, clauses, warranties, policy and endorsement wordings applicable to certain classes of business such as Fire, Engineering, Motor, Workmen’s Compensation and other classes of insurances which were not allowed earlier....
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