Finance Minister Nirmala Sitharaman in the Union Budget for 2021-22 on Monday proposed to liberalize foreign direct investment (FDI) in Indian insurance companies to 74% from the existing 49%. While…
General insurers have recorded around 12 per cent year-on-year (YoY) growth in gross premiums underwritten in December. This comes after low single-digit growth in November and contraction in September and…
Petrol pumps and gas dealerships may start distributing standardised insurance products if the sector regulator's efforts are successful. There are nearly 61,000 fuel pumps in the country and almost 25,000…
The Centre is set to go for mandatory scrapping of government vehicles which are more than 15 years old even as it moves to introduce a stringent fitness and emission-related…
The working group committee set up by the Insurance Regulatory and Development Authority of India (IRDAI), to examine and recommend the linking of motor insurance premiums with traffic violations, submitted…
In a bid to simplify travel insurance and expand its reach in the country, IRDAI issued guidelines or insurers to come up with standard travel policies to be offered from…
Natural disasters like wildfires which devastated parts of the United States and a record number of hurricanes in the Atlantic caused $76 billion in insured losses during 2020, Swiss Re…
IRDAI has maintained the obligatory cession of each general insurance policy that is to be reinsured with an Indian firm at 5 per cent for FY21. "The percentage cession of…
Farmers facing damage to their crops due to attack by wild animals can now file for claim under the central flagship crop insurance scheme. The participating states will have to…
Pandemic-enforced mindset has changed the insurance landscape. Enforced lockdowns or restricted movements in India have pushed consumers to begin looking digitally for insurance solutions that may not have been there…