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INSURANCE REGULATORY REFORMS INDIA
SBI Life partners with J&K Bank to offer insurance solutions across IndiaSBI Life and J&K Bank have partnered to offer comprehensive life insurance solutions. Over one thousand J&K Bank branches will now provide ...- Low insurance penetration, reforms to drive 'massive' growth in India's insurance sector: S&PIndia's insurance sector anticipates significant long-term expansion driven by reforms and low penetration. Favorable regulations are attra...
- Policy reforms speed up coal block operationalisation: Coal Secretary Vikram Dev DuttIndia's coal sector policy reforms have significantly reduced operationalisation timelines for explored blocks. These changes enable faster...
- Global Market: Prudential shares tumble as China offshore insurance tax report rattles investorsShares of Prudential plunged after reports that Chinese tax authorities had begun collecting personal income tax on returns from offshore i...
- Regulators weigh bringing insurance surety bonds under RBI's CRILCFinancial regulators are exploring adding insurance surety bond exposures to a central credit database. This move aims to provide banks and...
- No insurance, no fuel? Supreme Court proposes pilot project, extends tenure of third party insurance cover for new vehiclesThe Supreme Court has proposed new measures to address widespread non-compliance with mandatory motor insurance laws. Automatic e-challans ...
- SC proposes no fuel for uninsured vehicles, seeks tech-driven road safety overhaulThe Supreme Court has directed the Centre to design a pilot project denying fuel to uninsured vehicles. This initiative aims to improve roa...
- Supreme Court orders automatic challans for uninsured vehicles using cameras as over 50% are found uninsuredSupreme Court orders cameras to identify uninsured vehicles and issue automatic e-challans, tightening enforcement of mandatory vehicle ins...
- Irdai told to draw up plan to make 3rd-party cover must for fuel purchaseThe Supreme Court ordered Irdai to pilot compulsory third-party insurance for fuel purchases. New four-wheeled vehicles will require four y...
- IRDAI asks insurers to fast-track Assam flood claimsInsurers must expedite flood claim settlements for affected policyholders. The regulator has directed immediate deployment of surveyors and...
- Trade deals open new markets for Indian medical device makers, but import risks remain: AiMeDThe EU offers the biggest long-term opportunity for Indian medical device makers, while the UK has more immediate strategic value, says AiM...
- Surrender and withdrawals as a share of total benefits paid by life insurers rise to 39%Surrender and withdrawal benefits paid by life insurers have increased significantly. These benefits now exceed maturity benefits paid by t...
- IRDAI’s insurance reforms: Why fixing commissions matters more than tracking sellersSome carmakers sell vehicles without a spare wheel, offering just a puncture repair kit instead. Nobody proposes a register of the salesmen...
- India climbs 25 places to 57th in global rankings on back of structural, pro-competitive reformsIndia's position in structural and global rankings has improved from 82nd to 57th as per a statement by the Ministry of Commerce & Industry.
- State insurers quote low premiums to win NPCIL nuke insurance coverNuclear Power Corp of India (NPCIL) had budgeted Rs 30.13 crore, including taxes, for insuring Tarapur units 3 and 4 under a one-year prope...
- India 25 notches up on global competitiveness indexIndia advanced 25 places to rank 57th globally in a competitiveness index. This improvement reflects sustained efforts in reducing market d...
- Bank of Baroda may trigger cyber insurance claimBank of Baroda has filed a preliminary claim under its cyber insurance policy after a suspected data breach exposed nearly 1 TB of customer...
- Patanjali insurance? IRDAI approves Patanjali, DS Group's acquisition of Magma General InsurancePatanjali Ayurved and Dharampal Satyapal Group secured IRDAI approval for Magma General Insurance. This acquisition marks Patanjali's signi...
- ProTec gets insurance licence; Irdai revamps key guidelinesProTec General Insurance will be allowed to undertake general insurance business under the applicable regulatory framework. The four regist...
- LIC appoints Shatmanyu Shrivastava as new CFO, replacing Sunil AgrawalShatmanyu Shrivastava has been appointed as the new Chief Financial Officer of LIC. He replaces Sunil Agrawal, who resigned from the financ...
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