Navigating Global Reinsurance Challenges
The reinsurance sector, often regarded as the backbone of risk management, is grappling with profound challenges as the frequency and severity of natural disasters escalate globally. Climate change is no…
Focus on Climate Risk: How Climate Risks Are Shaping Insurance Models in India and Globally
The growing threat of climate change is reshaping industries around the world, with the insurance sector facing an especially pressing challenge. The frequency and severity of extreme weather events-such as…
Legal liability for fraud in digital payments
In the first four months of 2024, Rs. 1,750 crore has been lost to cyber criminals. Victims are being targeted using online investment and trading scams, fake digital arrests, and…
Insurance Regulatory and Development Authority of India (Insurance Fraud Monitoring Framework) Guidelines, 2024
Vide Circular Ref. No. lRDA/SDD/MISC/CIR/009/01/2013 dated 21st January 2013, IRDAI issued the extant Insurance Fraud Monitoring Framework to provide regulatory supervision and guidance on the adequacy of measures taken by…
How various insurtech startups are addressing the challenge of low market penetration in the Indian Life insurance sector
India's life insurance sector, despite being one of the largest markets in the world by population, faces a significant challenge in terms of market penetration. With a penetration rate hovering…
IT Editorial November 2024
IRDAI has extended the deadline for IFRS 17 implementation to FY27, providing insurers with additional time to adapt to this international financial reporting standard. IRDAI has been continuously extending the…
Climate risk insurance for MSMEs and farmers; Impact of natural disasters on insurance claims; Promoting sustainable insurance practices
As we face the growing challenges posed by climate change, the insurance sector is presented with an urgent call to action. Environmental shifts have led to more frequent and severe…
India: ECGC’s Operating Performance Strengthened by Improved Underwriting
The Export Credit Guarantee Corporation of India (ECGC), fully owned by the Indian government, has shown robust technical earnings during the fiscal years 2023 and 2024, according to a report…
Why Insurance is Important for Financial Security
In today’s unpredictable world, securing your financial future is more critical than ever. One of the most effective ways to do this is through insurance. Whether it's safeguarding your health,…
Pradhan Mantri Vaya Vandana Yojana from Life Insurance Corporation of India
Introduction: The Government of India has announced Pradhan Mantri Vaya Vandana Yojana for citizen aged 60 years and above. LIC of India has been given the sole privilege to operate…