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CCI looks into allegation against Maruti Suzuki over car insurance: Report

The Competition Commission of India (CCI) in June last year received an anonymous complaint alleging insurance plans recommended by Maruti while selling cars resulted in customers paying more compared with other options in the market.Based on the complaint, the CCI is assessing whether Maruti has engaged in so-called “tie-in arrangements”, in which a car maker promotes preferred suppliers of complementary goods such as lubricants or insurance, the sources said.

IRDAI penalises Malaysian brokers for cheating TATA-AIG in Rs 300 cr crop reinsurance deal

It all started when TATA-AIG General, which has since exited the crop insurance business after losing money heavily in the deal, made a complaint to IRDAI against Unison lnsurance Broker on Dec 21,2018 alleging fraud in reinsurance placement pertaining to crop insurance,with a premium of around Rs 300 crore  in Rajasthan cluster for Kharif 2018.

AXA insurance launches first-in-market plan for Cancer survivors

Sean Goh, Managing Director, Life, AXA Insurance Singapore said, “Many cancer survivors are left without any insurance coverage after their first diagnosis and do not have the security of a financial safety net if cancer strikes again. We want to take away this uncertainty by protecting them financially should they be faced with cancer again, so they can focus on treatment and recovery. This is part of our commitment to support our customers across their entire health journey and to empower them to live better lives.”

Peak Re successfully places $ 77mn Lion Rock Re II Sidecar

the confidence shown in Lion Rock Re II really shows that Hong Kong can become a hub for ILS investors. Lion Rock Re II will allow us to continue our drive towards modernising reinsurance and bringing more communities under the umbrella of protection that insurance and reinsurance provides,” said Franz Josef Hahn, Chief Executive Officer of Peak Re.