by AIP Online Bureau | Dec 13, 2018 | Indian News, Regulation, Technology
Hyderabad: Insurance sector regulator IRDAI has asked all the insurers to inform policyholders through messages on receipt of premium from January 1, aimed at protecting the interest of consumers. The Insurance Regulatory and Development Authority of...
by AIP Online Bureau | Dec 13, 2018 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Singapore: Fire and explosion incidents cause the largest claims for insurers and the businesses they cover, according to new research from Allianz Global Corporate & Specialty (AGCS). The vast majority of corporate insurance claims originate from technical...
by AIP Online Bureau | Dec 13, 2018 | Indian News, Non-Life, Reinsurance
Mumbai: In its revised norms on reinsurance, to be implemented from Jan 1,the Indian insurance regulator IRDAI has retained the prime clause of `Order of preference’ that gives power of `right to refusal’ to state owned reinsurer GIC...
by AIP Online Bureau | Dec 11, 2018 | Banking & Bancassurance, Eco/Invest/Demography, Indian News
New Delhi: Ending speculations, government appointed former Economic Affairs secretary Shaktikanta Das as the new Governor of the Reserve Bank of India(RBI) for a period of three years. Das, a 1980 batch IAS officer of Tamil Nadu cadre, was member of the...
by AIP Online Bureau | Dec 11, 2018 | Eco/Invest/Demography, Facts
Trillions of dollars – equivalent to more than five per cent of global GDP – are paid in bribes or stolen through corruption every year, according to the United Nations. Secretary-General Antonio Guterres deemed corruption "an assault on...
by AIP Online Bureau | Dec 11, 2018 | International News, Non-Life, Reinsurance
Hong Kong Peak Reinsurance Company Limited (“Peak Re”), a global reinsurer based in Hong Kong, today announced that it has launched Asia’s first sidecar transaction via a new Bermuda-domiciled special purpose insurer, Lion Rock Re...
by AIP Online Bureau | Dec 10, 2018 | Eco/Invest/Demography, Indian News, Risk Management
Mumbai: In the backdrop of RBI Governor Urjit Patel's resignation, Moody's Investors Service said the independence of a country's central bank is an important consideration while assessing a country's institutional strength and any attempt by...
by AIP Online Bureau | Dec 10, 2018 | Eco/Invest/Demography, Indian News, Non-Life
NewDelhi: Central government teams have been deputed to assess the drought situation in six states — Andhra Pradesh, Maharasthra, Rajasthan, Gujarat, Jharkhand and Odisha, a senior agriculture ministry official said on Monday. These six states and...
by AIP Online Bureau | Dec 10, 2018 | Indian News, Pension & Social Security
New Delhi: Finance minister Arun Jaitley Monday said the Centre has decided to increase its contribution to the NPS for the Central government employees to 14% and also made the entire withdrawal amount tax free at the time of retirement. The decision...
by AIP Online Bureau | Dec 7, 2018 | Indian News
Mumbai: Mutual funds' asset base rose to Rs 22.23 trillion by October-end, a slight increase of 1 per cent from the preceding month, as the industry showed resilience despite the recent market events like IL&FS default. According to Amfi...
