GIC Re set to participate in reinsuring Kudankulam units
GIC Re will be participating in reinsuring the Rs 43,200-crore insurance coverage of the under-construction units of Kudankulam nuclear power plant. It has quoted a 15 % share of the…
3rd party premium hike not enough: Industry
The much-anticipated upward revision in third-party (TP) motor insurance premiums, after almost three years, proposed by the insurance regulator in a draft notification a few days ago, has not enthused…
‘Cashless treatment’ scheme for NH crash victims set for launch
The National Highways Authority of India (NHA) has invited bids from insurance companies for the roll out of “cashless treatment” scheme for road crash victims on the Delhi-Mumbai-Chennai, Chennai-Kolkata, Kolkata-Agra…
Insurers seek equal bonding with lenders for infra surety
General insurance companies are seeking parity with banks and other lenders for them to be able to get into providing surety bonds for contractors bidding for large projects. The Union…
Motor third-party premiums to be revised after 2 years
The ministry of road transport and highways in consultation with the insurance regulator released a draft notification for revising the motor third party premium rates for the financial year 2023.…
Road safety a major challenge for developing countries: Gadkari
Road safety has become a challenge for developing countries like India, and artificial intelligence-based drones and robots can be used for forensic investigation of road accidents, Union minister Nitin Gadkari…
ECGC coverage withdrawal a huge setback
The Export Credit Guarantee Corporation (ECGC) has decided to withdraw coverage for shipments to Russia with effect from February 25, which is a huge setback for exporters, industry body FIEO…
Insurance cover category for Indian exports to Russia modified
As the Russia-Ukraine conflict intensifies, raising concerns among Indian exporters, the Export Credit Guarantee Corporation of India (ECGC) clarified coverage on export transactions to Moscow has not been withdrawn. It…
Centre to launch weather-based crop insurance scheme
Commerce Minister Piyush Goyal will launch a Weather based Crop Insurance Scheme for cardamom growers of Western Ghats. The Minister will launch the scheme in connection with the Coral jubilee…
Govt issues rules for displaying fitness certificate on vehicles
Vehicles will have to display validity of fitness certificate and registration mark in a prescribed manner, as per a draft notification issued by the Ministry of Road Transport and Highways…