by AIP Online Bureau | Jul 23, 2025 | Indian News, Regulation
“Applicable to all insurers (except reinsurers) with more than three years of operations, the framework mandates the appointment of an internal insurance ombudsman to address complaints involving claims up to Rs 50 lakh,” it said. New Delhi: Irdai on...
by AIP Online Bureau | Jul 23, 2025 | Briefs, Disaster & Management, Non-Life, Reinsurance
ICICI Lombard in collaboration with Amazon Web Services (AWS), has completed a major upgrade of its disaster recovery (DR) infrastructure from AWS Asia- Pacific (Mumbai) Region to AWS Asia Pacific (Hyderabad) Region, backed by a fully automated, cloud-native setup....
by AIP Online Bureau | Jul 23, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance
Complementing the Bengaluru expansion, FM will also open a new sales office in Mumbai later this year. The Mumbai office will help the company strengthen its presence in the country’s financial capital, bringing it closer to key clients and decision-makers Bengaluru:...
by AIP Online Bureau | Jul 23, 2025 | Eco/Invest/Demography, Indian News, Risk Management
The number of Indians living in cities is projected to nearly double to 951 million by 2050 from 480 million in 2020. But erratic rainfall, heatwaves, and rising sea levels are leaving urban areas in the world’s most populous nation increasingly vulnerable, the...
by AIP Online Bureau | Jul 22, 2025 | Briefs, Non-Life
The government on Tuesday has cleared the appointments of five executive directors(EDs) in different PSU general re/insurance companies. Anjana Saxena and Amandeep Singh Grover have been posted as EDs in Oriental Insurance Company, Jayashri Balkrishna in GIC-Re,...
by AIP Online Bureau | Jul 22, 2025 | Banking & Bancassurance, Briefs, Life
Shriram Life Insurance Company (SLIC) has partnered with ESAF Small Finance Bank as a corporate agent to expand the reach of life insurance products to the underserved segments across India. The bank has 788 branches, 713 ATMs, and 1,095 customer service centres...
by AIP Online Bureau | Jul 22, 2025 | Indian News, Intermediaries, Life
Pankaj Chaudhary, minister of state ,Ministry of Finance LIC has already paid Rs115.13 crore to 2,05,896 Bima Sakhis in the country till July 14 New Delhi: Life Insurance Corporation (LIC) has provided a budget of Rs 520 crore for the government’s Bima Sakhi-...
by AIP Online Bureau | Jul 22, 2025 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Life, Non-Life, Regulation
It captures the level of financial inclusion using data from different sectors, including banking, insurance, investments, pensions and postal services. Mumbai: The Reserve Bank of India (RBI) on Tuesday said that the country’s financial inclusion index...
by AIP Online Bureau | Jul 22, 2025 | Data, Disaster & Management, Eco/Invest/Demography, Non-Life, Reinsurance, Risk Management
The survey highlighted that 41 per cent of the respondents in last 6 months consider natural calamities such as floods, earthquakes, and storms as the primary reason to purchase home insurance. These events have made people realise the importance of securing their...
by AIP Online Bureau | Jul 22, 2025 | Eco/Invest/Demography, Indian News, Life, Non-Life, Regulation, Risk Management
Key outcomes were urgent transition to 1600-Series for Commercial Calls, regulators, discussed setting up timelines for migration to the dedicated 1600-number series for transactional and service calls in the banking, financial services, and insurance (BFSI) sectors....
