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IRDAI removes caps on commissions paid to intermediaries within Expense of Management(EOM)
The government last Sunday has notified the new regulations, as approved by insurance regulator IRDAI , on the removal of cap on payment of commission to the intermediaries Oveall limit of Expense of Management(EoM) for the insurers will be fixed by insurance...
610 cases of Covid’s new variant XBB1.16 found in India: INSACOG data
The highest number of Covid cases caused due to this variant has been found in Maharashtra and Gujarat at 164 each, followed by 93 Telangana and 86 in Karnataka, according to INSACOG data. A total of 610 cases of Covid's XBB.1.16 variant, which might have been behind...
Credit Suisse bondholders consider legal advice on extinguished AT1 Bonds
Some distressed debt-type funds have been buying Credit Suisse’s AT1s for a few cents on the dollar. The bonds were traditionally held by institutional investors. Credit Suisse bondholders are seeking legal advice after the Swiss regulator ordered 16 billion Swiss...
Sun Pharma’s income hit by ransomware
While the drugmaker is unable to determine other impacts of the breach, including cost to maintain insurance coverage and possibility of litigation, it said there would be expenses linked to the incident. Mumbai: Sun Pharmaceutical Industries expects revenue to fall...
Cyber criminals exploiting ChatGPT popularity to spread malwares via FB accounts
"Cybercriminals are capitalising on the popularity of ChatGPT, exploiting Facebook's vast user base by compromising legitimate Facebook accounts to distribute malware via Facebook ads, putting users' security at risk. Our investigation has uncovered 13 compromised...
Medi Assist acquires Raksha TPA, to add approximately 3,000 corporates clients
``This acquisition aligns with Medi Assist's overall growth strategy, and expands our presence in the North and West regions of India and adds approximately 3,000 corporates to our client list. Raksha TPA adds 17 per cent to Medi Assist in terms of scale," said Satish...
Skyrisks to launch products for Advanced Air Mobility sector
Advanced Air Mobility (AAM) businesses will have diverse insurance needs including hull all risks, third party liability, passenger & crew liability, premises, products & hangarkeepers liability, and other coverages London: Skyrisks Limited announced today...
MS Amlin bolsters Risk Analytics expertise with senior hire
LONDON: MS Amlin, the Lloyd’s global (re)insurer, on Monday announced the appointment of Dr Jessica Turner as Head of Risk Analytics, effective 26 June 2023, and reporting to Martin Burke, Director of Underwriting Performance. Jessica joins MS Amlin from Guy Carpenter...
Miller bolsters Singapore Energy team with Engineering hire
London: Miller, UK based independent specialist (re)insurance broker, today announces the appointment of Bonifasius Dipati (Boni) as a risk engineer in its Singapore Energy team. Boni will report to Head of Energy (Asia-Pacific), Matt Hooker, and he joins on 3rd...
IRDAI approves new expense of management for insurers, allows higher intermediary commissions within EOM
New measures to be effective from Apr 1 The IRDAI also approved licenses of two new life players-Acko Life Insurance and Credit Access Life Insurance Hyderabad: With a bit of delay, insurance regulator IRDAI had its last board meeting of the current fiscal, FY2022-23,...
RCAP resolution plan: Roadblock as bidders upset over another auction plan
According to the sources, Torrent has recently conveyed to the lenders that it is not willing to participate in the second round of auction The other bidder -- IndusInd International Holdings Ltd (IIHL) of Hinduja Group -- has also told the lenders that it wants to...
Family ID next big thing for robust delivery of schemes, services in UP: Social Welfare Minister Asim Arun
Family ID is a 12-digit unique identification number carrying details of a family, serving as a central repository of family attributes to automatically determine their eligibility for government schemes and extend benefits to the missing beneficiariesThe database...
France bans TikTok from govt devices amid cybersecurity risks
The ban brings the France in line with UK, the US, Canada and the European Union (EU) and also India – which banned TikTok entirely from the country, even as the company strongly denies sharing user data with the Chinese government. TikTok is bound by China's National...
ICMR comes up with first ethical guidelines for application of AI in biomedical research, healthcare
The induction of AI into healthcare has the potential to be the solution for significant challenges like diagnosis and screening, therapeutics, preventive treatments, clinical decision-making, public health surveillance, complex data analysis, and predicting disease...
Hindus among healthiest, Sikhs most likely to own homes: UK census data shows
"In 2021, those who identified as 'Hindu' had the highest percentage of their population reporting either 'very good' or 'good' health (87.8 per cent), compared with 82.0 per cent of the overall population," the ONS finds, adding that the Hindus also reported the...
Rise in Covid cases: Govt planning nationwide drill to take stock of hospital preparedness on April 10, 11
The states and UTs have been asked too keep a close watch on the evolving etiologies (causes of diseases) of Influenza Like Illness (ILI) and Severe Acute Respiratory Illness (SARI) cases, adding India usually sees a seasonal rise in Influenza cases from January to...
Air India, Nepal Airlines aircraft almost collided over Kathmandu airport
The Civil Aviation Authority of Nepal (CAAN) has suspended two employees of the air traffic controller department for "carelessness", according to CAAN spokesperson Jagannath Niroula. Kathmandu: A major tragedy was averted on Friday when an Air India and a Nepal...
Nepal’s population reaches 29.1 million
According to the data published by the Central Bureau of Statistics, out of the 29,164,578 people in Nepal, 14,911,027 are females, while the number of males 14,253,551. Kathmandu: Nepal's total population has reached more than 29.1 million, according to the latest...