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Distribution reforms to generate employment, make new players’ entry easier: IRDAI Member
Girija Subramanian,member, Distribution, IRDAI The effective dates under consideration for implementing the new reforms are Jan. 1 and April 1, said Girija Subramanian,member, Distribution, the Insurance Regulatory and Development Authority of India(IRDAI)....
Keralam to bring law guaranteeing care for senior citizens in next Assembly session: CM
V D Satheesan,Chief Minister, Keralam "We are preparing legislation to provide a legal guarantee to senior citizens that they will be protected and that somebody will be there to take care of them," Satheesan said, ahead of the commencement of the Assembly session on...
Microfinance sector must prioritise savings, insurance over credit to avoid recurring crises: CEA Nageswaran
Chief Economic Adviser V Anantha Nageswaran said microfinance institutions need to move beyond lending and focus on building sustainable livelihoods and financial security for low-income households. New Delhi: India's microfinance sector must prioritise savings and...
South Korean banks were likely hacked by a China-based actor with an AI agent, CrowdStrike says
Adam Meyers, senior vice president of counter adversary operations at CrowdStrike, told reporters on a call on Thursday that this was an example of a human adversary leveraging AI agents to conduct widespread attacks. The suspect behind recent cyberattacks at South...
FSSAI issues notices to Dr Reddy’s, Nestle Health Science, Amazon, Flipkart for misleading claims
The regulator further said that the claims printed on the pack regarding muscle strength, immunity support and energy metabolism were found to be presented in a way that could mislead consumers about the health benefit of the product. Mumbai: Food regulator Food...
Govt caps trade margins at 30 pc of MRP for anti-cancer drugs
The move addresses excessive trade mark-ups and aims to improve affordability while ensuring continued availability of these life-saving medicines.The measure is expected to reduce medicine prices by up to 70% and help cancer patients save ₹2,500 crore annually,...
NMC bars AI-generated patient testimonials, clinical outcomes in medical advertising
The guidelines prohibit registered medical practitioners and hospitals from using AI-generated content for advertising their services, soliciting patients or disseminating unverifiable information relating to diagnoses, treatments and outcomes. New Delhi:The National...
GST Council allows employers to get Input Tax Credit on GST paid for employee insurance cover
Nirmala Sitharaman,Union Finance Minister Currently, an 18 per cent GST is levied on all such group insurance policies. Almost every organised employer provides cover for its workforce, so the cost of providing the coverage comes down, which should assist the spread...
PM calls for global framework on cyberfraud, deepfakes; asks govts, telcos, financial cos to team up
Narendra Modi,Prime Minister Modi flagged the growing challenge posed by deepfakes and said countries need to work together on a global framework to address such emerging threats. NEW DELHI: Prime Minister Narendra Modi on Thursday called for a global framework to...
Companies experience sharp increase in business interruption losses, says Allianz
According to a new analysis from Allianz Commercial, the average total value of a business interruption claim now exceeds €850,000. This is around 70% higher than the corresponding average property damage claim of close to €500,000, demonstrating that the financial...
RBI backs IRDAI on distribution reforms
“It is primarily, I think, to consumer interest, to reduce costs and also at the same time to prevent mis-selling,” said RBI Governor Sanjay Malhotra . Mumbai: RBI Governor Sanjay Malhotra has insurance regulator IRDAI's proposed distribution reforms, saying the...
Leadership changes loom at Bajaj General, IndusInd General
Sharad Mathur has already joined IndusInd General Insurance to succeed Rakesh Jain, while Parag Ved, MD & CEO of Liberty General Insurance is currently one of the frontrunners to succeed Tapan Singhel at Bajaj General Insurance, who completes 15 years in March...
Businesses boost risk management spend but resilience gap remains;Hiscox report
Kate Markham, Hiscox London Market CEO, said: “Our research highlights a growing resilience gap. While organisations are investing more in risk management, many still lack the structures, visibility and capabilities needed to understand how disruption spreads across...
GIC Re’s credit ratings affirmed by AM Best
The ratings reflect GIC Re's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management. In addition, the ratings factor in a neutral impact from...
UNDP and Generali Central launch insurance innovation challenge to strengthen MSME resilience in India
Angela Lusigi, Resident Representative, UNDP India India’s more than 73 million MSMEs contribute about 30% of the country’s GDP and 44% of its exports, while employing 60% of its workforce (SIDBI, 2025). Yet climate shocks, supply-chain disruption, workplace risks and...
Chhattisgarh govt blacklists Oriental Insurance for 3 yrs over delayed helicopter crash claim, insurer says claim not payble
The state's Directorate of Aviation took the action in connection with the insurance claim for a government-owned AgustaWestland helicopter that crashed in May 2022, killing two pilots `We, at OICL are very disappointed at this unjust decision on the part of...
AI asset valuations pose global risk, but cyber threat biggest concern for central banks: RBI Governor
``I think for us as central bankers, the most significant of these is cyber risks.The growing use of information technology across financial systems and the increasing interconnection between financial institutions were adding a new dimension to cyber risks from...
RBI may hike interest rate further in December policy: Experts
The inflation prints are expected to harden moving forward, on account of a combination of factors such as the poor monsoon, rising commodity prices and an unfavourable base effect, setting the stage for another rate hike in December as of now, ICRA Chief Economist...