New Safety standards for factories
The labour ministry has proposed a high-level board that will work upon to set standards for occupational safety and health. The board would also oversee the implementation of standards for…
Mr. Pravin Kutumbe, joins as Member (Finance & Investment), IRDAI
Mr. Pravin Kutumbe assumed charge as Member (Finance & Investment) in Insurance Regulatory and Development Authority of India (IRDAI) on 12th March 2018. Prior to joining IRDAI, he was Executive Director (Finance & Accounts) in…
3rd Annual Insurance India Summit & Awards 2018
The “3rd Annual Insurance India Summit & Awards 2018” is scheduled during 21-22 June 2018 at The Lalit Mumbai, India. The theme of this year summit is "BlockChain, AI &…
LIC has booked record Rs.25,000 crore profit in FY18 share sales
LIC has booked record equity share trading profits of Rs.25,000 crore in the financial year 2017-18, up from Rs.19,000 crore a year ago, according to sources. LIC held equity assets…
Cover for Insolvency professionals
Insurance Companies are designing policies to cover individual insolvency professionals against charges of sabotage and negligence during the time bound resolution of bankruptcy cases. The insolvency resolution professional is appointed…
IRDAI asks reinsurers to pass on GST benefit to stakeholders
IRDAI has asked insurers to pass on the benefit of GST to stakeholders. The GST Council, in January, had exempted reinsurance schemes from the purview of GST on the condition…
LIC to give Rs.5000cr loan for railway project
LIC has decided to lend Rs.5000 crores for the Railways projects at a cost of 30 bps over the 10-year government bonds. This funding will be guaranteed by the Finance…
ICICI Lombard in race to aquire Star Health Insurance
ICICI Lombard General Insurance is in the forefront to acquire standalone health insurance company Star Health and Allied Insurance Co, edging past the competing consortium of WestBridge Capital and stock…
PSU insurer’s merger likely to be completed in early 2019
The proposal to merge the three general insurers National Insurance Company, United India Insurance and Oriental Insurance Company is likely to be completed not before early 2019, depending on the…
The difference between grounding stranding, sinking and capsizing of the vessel
The difference between stranding and grounding of the vessel was necessary when F.P.A. warranty or policy franchise did not apply to the claim for stranding of a ship but did…