Regulation

US lawmakers to introduce bipartisan Bill aimed at internet firms’ Liability shield

International News       Feb 21, 2020

  U.S. legislation will be introduced in the coming weeks that could hurt technology companies’ ability to offer end-to-end encryption, two sources with knowledge of the matter said, and it aims to curb the distribution of child sexual abuse material on such platforms.   The bill, proposed...

(L-R) Bhargav Dasgupta, MD & CEO, ICICI Lombard GIC,Sunil Sharma, President, Institute of Actuaries of India and S C Khuntia,chairman, IRDAI at the 21st Global Conference of Actuaries in Mumbai

No plans to make listing mandatory for insurers:IRDAI chief 

Indian News       Feb 18, 2020

Mumbai: Insurance watchdog Irdai is yet to get any proposal from life insurance behemoth LIC on an initial public offering but feels a listing is better from a governance perspective, chairman S C Khuntia said on Tuesday.   He also said that there is nothing for...

Irdai expresses concern over high hospital tariffs plans to standardise charges

Indian News       Feb 14, 2020

Kolkata: Insurance sector regulator Irdai on Friday expressed concern over rising tariffs in hospitals and has planned to standardise charges for some medical procedures, an official said.      It has been noticed that rate of inflation of hospital charges at present is around 10-15 per cent...

Bill Coen appointed chair of the IFRS Advisory Council

International News       Feb 11, 2020

  London: The Trustees of the IFRS Foundation have appointed Bill Coen as Chair of the IFRS Advisory Council, effective immediately.   The Advisory Council supports the Trustees by providing strategic advice. Coen has been appointed to chair the Council and consider how to improve its effectiveness.  ...

IRDA improves ambit of ``pre-existing disease'' norms

Indian News       Feb 10, 2020

  Hyderabad: Issuing clarification on the definition of pre-existing disease,not applicable for Overseas Travel Insurance, the insurance regulator IRDAI has said that it would mean any condition,ailment, injury or disease that is/are diagnosed by a physician within 48 months prior to the effective date of the...

(Lto R)MR Kumar, Chairman, LIC, SC Khuntia,Chairman, IRDAI, Grija Kumar, CMD, OIC,G Srinivasan,director, NIA, Sathish Raju, CEO, Swiss Re, India Branch at an event on “Digital Disruption: Embracing digital innovation in (Re) Insurance Business, in Mumbai

IRDAI to expand its regulatory Sandbox project soon:Khuntia

Indian News       Feb 06, 2020

  Mumbai: Insurance Regulatory and Development Authority of India (Irdai) will soon approve products of life insurance industry under its innovative regulatory sandbox project. Recently, the insurance regulator has approved 33 products of 10 companies under the regulatory sandbox project in the non-life and distribution category.  ...

Shaktikanta Das,governor, RBI

RBI holds rates steady, raise deposit insurance rate marginally

Indian News       Feb 06, 2020

  MUMBAI: The Reserve Bank of India (RBI) held rates steady on Thursday in a bid to combat inflation that has accelerated to its highest levels in more than five years, but the central bank retained its accommodative monetary policy stance as growth remains lacklustre.   The...

IRDA sets up panel to explore allowing exclusive micro-insurance cos

Indian News       Feb 04, 2020

  Hyderabad: To assess the desirability and feasibility of formation of standalone micro-insurance companies in the country, the insurance regulator IRDAI has formed a panel under Mirai Chatterjee,director,SEWA, Ahmedabad.   India is the largest micro-insurance market in the world   Well known banker with vast exposure in micro...

Swadeshi Jagran Manch asks PM's to stall mergers of 3 PSU general insurers

Indian News       Jan 30, 2020

  New Delhi: Swadeshi Jagran Manch (SJM), an RSS(Rashtriya Swayamsewak Sangh)affiliate, has written to the Prime Minister Narendra Modi, seeking the review of the government’s decision to merge the public sector general insurance companies Oriental Insurance Company(OIC), United Insurance Company(UIC) and National Insurance Company(NIC) as it...

European insurers balk at EU raising capital requirements due to Cyber, Climate Risks

International News       Jan 30, 2020

  Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer bailouts, a top EU official said on Wednesday.   However the European insurance...

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