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Ardonagh continues expansion in Asia, acquiers Hong Kong’s Risk Management Insurance Brokerage
Founded in 1996, RMIB has built a business in Hong Kong, advising clients across Employee Benefits,Property & Casualty, transport-related risks, and niche international programmes London:The Ardonagh Group, one of the world’s leading independent insurance...
SC issues notice to Centre on plea challenging 2023 data protection law
The plea, moved by The Reporters' Collective and journalist Nitin Sethi, argues that the new data regime severely dilutes the Right to Information (RTI) Act and grants the Centre "sweeping powers" over personal data.The plea, moved by The Reporters' Collective and...
Govt doing a ‘very thorough study’ of non-scheduled flight operators, uncontrolled airfields: Naidu
Civil Aviation Minister K Rammohan Naidu told PTI that the civil aviation ministry is doing a "thorough study" of the NSOPs, as well as the uncontrolled airfields. Areas where something needs to be done with respect to NSOPs and uncontrolled airfields will be looked...
Rising civil unrest pushes up SRCC(strikes, riots and civil commotion) claims globally
Claims tied to SRCC — strikes, riots and civil commotion — are emerging as a growing headache for insurers as episodes of unrest increasingly lead to the destruction of property in Western democracies.Howden Re estimates that insured losses related to SRCC soared from...
Burman-backed Religare Enterprises to demerge its financial services and insurance businesses
Under the proposed scheme of arrangement, REL will retain its stake in Care Health Insurance Ltd.The financial services business -- comprising lending, broking, investment activities and related support services -- will be transferred on a going-concern basis to its...
Govt launches PM RAHAT (Road Accident Victim Hospitalization and Assured Treatment) Scheme for road accident victims
Under the scheme, every eligible road accident victim on any category of road will be entitled to cashless treatment up to ₹1.5 lakh per victim, for period of 7 days from the date of accident. Stabilization treatment will be provided for up to 24 hours in...
Substantial reduction in out-of-pocket expenditure on healthcare over past decade: Nadda
"India has witnessed a substantial reduction in out-of-pocket expenditure on healthcare over the past decade, easing the financial burden on households, particularly among economically vulnerable sections," Union Health Minister J. P. Nadda said India has seen a...
Respond on suggestion to introduce front-of-pack labelling on food products SC to FSSAI
In an affidavit filed in the court, the FSSAI has said it intends to conduct further research and undertake a systematic mapping of a representative sample of different varieties of packaged food products across both the solid and liquid categories. New Delhi:The...
From chaos to coaching: How real-time AI is slashing road fatalities on Indian roads
While global conversations often centre on AI's role in automation and productivity, in India, the technology is finding its most profound application in a life-saving mission: curbing the country's staggering rate of road accidents. As India prepares for the upcoming...
India has doubled climate spending to 5.6% of GDP, says Finance Minister Sitharaman
Union Finance Minister Nirmala Sitharaman The Finance Minister argued that the global community must adopt a "polluter pays" principle, where the cost of climate action is shared fairly based on a country's historical contribution to emissions. Munich: India has...
Chhattisgarh govt returns to NPS fold for providing pension to its employees
Sivasubramanian Ramann,chairman,Pension Fund Regulatory and Development Authority(PFRDA), said it has allowed banks to sponsor pension funds under the NPS, that will create a level playing field for all sponsors, including asset management companies...
Uday Kotak appointed chairman of GIFT City
Uday Kotak,chairman, Gujarat International Finance Tec-City Company GIFT City in Gujarat is India's first operational smart city and hosts India's first and only International Financial Services Centre (IFSC).It's a hub for financial and IT companies from around the...
Spain’s Map Re receives approval for its branch office in India’s GIFT City
“The authorization to operate in India means we’ll be even closer to our clients and that we’ll also be able to leverage our technical knowledge and underwriting capacity in a market with high development potential,” stated Miguel Rosa, CEO of Mapfre Re Mumbai/GIFT...
InsuranceDekho weighs an IPO for raising as much as $250 million
The IPO is likely to include a mix of new share issuance and secondary sales by existing investors, and could take place later this year, they said. Girnar Insurance Brokers Pvt., which operates insurance tech startup InsuranceDekho, is weighing an initial public...
Investigation into AI-171 accident still in progress, clarifies AAIB
The preliminary report released earlier provided factual information available at that stage. The final investigation report, containing conclusions and safety recommendations, will be published upon completion of the investigation in line with established...
LIC keen on buying stakes in a suitable health insurance company,says CEO Doraiswamy
``We are evaluating various options available in the market, but we don't have any particular deadline or any such immediate date by which we are looking at doing that. We'll be open to having a stake if a very good opportunity makes itself viable,'' said Doraiswamy,...
China charges former AstraZeneca regional head with “unlawful collection of personal information and medical insurance fraud”
a former executive vice president and a former senior employee of AstraZeneca charged with “unlawful collection of personal information, illegal trade and medical insurance fraud,” the company said on Tuesday. China has officially charged AstraZeneca’s former regional...
BMW recalls hundreds of thousands of cars due to a potential fire hazard
BMW said that product inspections and customer complaints revealed that the starter motor in the identified vehicles could be defective, with an increase in wear and tear in the magnetic switch after a high number of starts, making it potentially harder or impossible...