Intermediaries

Insurers and brokers can't set up TPAs as promoters:IRDAI

Indian News       Dec 12, 2019

  Hyderabad: In a surprise move,the insurance regulator IRDAI has banned  the entry  of- any insurer or insurance broker or any entity having interest in insurance into Third Party Administrator (TPA) business.TPAs function as intermediaries between the insurance provider and the policyholder and its key function...

Aon to acquire small-medium business digital insurance agency Cover Wallet

International News       Nov 20, 2019

  LONDON: Aon plc  announced today that it has entered into a definitive agreement to acquire CoverWallet, the leading digital insurance platform for small and medium-sized businesses.   The acquisition provides Aon with additional access to the fast-growing, $200+ billion premium digital insurance market for small and...

Tencent buys 10% of Policybazaar, enters India insurance market

International News       Nov 09, 2019

  Tencent Holdings Ltd. has acquired a minority stake in Policybazaar.com valuing the Indian online insurance aggregator at $1.5 billion, according to a person familiar with the deal, as it tries to get a foothold in the country’s burgeoning insurance sector.   The Chinese technology giant bought...

Govt unveils norms for 100% FDI in insurance intermediaries sector

Indian News       Nov 06, 2019

    New Delhi: The government on Wednesday has notified the norms for allowing 100 per cent foreign direct investment (FDI) investment in the domestic insurance intermediaries sector including insurance brokers, third party administrators(TPAs) and Surveyors and loss adjusters and corporate agents.   The insurance intermediary that has...

IRDAI to get two full-time members soon

Indian News       Oct 29, 2019

  Hyderabad:  The government has issued advertisements inviting applications from the prospective public and private sector candidates for the two posts of members, Distribution and Actuary , in the Hyderabad based insurance regulator IRDAI. Sujay Banarji, member ( distribution), will be completing his two- year term ...

YES Bank files complaint with police against 'fake news'

Indian News       Oct 06, 2019

  Mumbai: Yes Bank on Sunday said it has file a police complaint against "fake news and rumours" on social media about its finances, saying there was an attempt to scare depositors.   The bank complained to the Mumbai Police's cyber cell after its promoters cut their...

IRDAI slaps Rs 15 lakh penalty against Shriram Transport Finance

Indian News       Oct 03, 2019

  Hydearbad: The insurance regulator, IRDAI has slapped a penalty of Rs. 15 lakhs against Shriram Transport Finance Company, a corporate agent(CA) of Shriram Life, for violating the corporate agency norms.   It was observed that 983 policies were solicited by one specified person (SP) , between...

Willis Research Network partnership to focus on natural air traffic hazards

International News       Sep 19, 2019

  London: The Willis Research Network (WRN) announced a new partnership with Mitiga Solutions, which will provide leading-edge volcanic ash cloud and sandstorm forecasting to aviation and aerospace clients to optimise air traffic management.   This new partnership will enable airlines, airports and associated organisations in both...

RFIB granted Hong Kong licence

International News       Sep 19, 2019

London: RFIB Group Limited, the international insurance and reinsurance broker, announced that its Hong Kong subsidiary has been admitted as a member of the Hong Kong Confederation of Insurance Brokers and is approved to transact general insurance.   Stephen Warwick, who joined the business in February...

Climate change tops list of world’s ‘extreme risks’

Facts       Sep 09, 2019

  LONDON: The Thinking Ahead Institute’s (TAI) Extreme risks 2019 report and ranking, which categorises rare events that could have a high impact on global economic growth and asset returns, has a new top three: global temperature change, global trade collapse and cyber warfare.   The Thinking...

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