Cyclone Remal: State initiates compensation for victims
A part of West Bengal, especially South 24-Parganas was severely affected by cyclone Remal.
A part of West Bengal, especially South 24-Parganas was severely affected by cyclone Remal.
For the first time, the ministry of road transport (MoRT) and Highways issued a notification on new premium rates for motor third-party insurance coverage for vehicles for the financial year 2023-24, without any hike in premium amount.
According to the IRDAI, to ensure sufficient reinsurance capacity in India and to attract more players for offering reinsurance at a competitive price, the free movement of assigned capital for foreign reinsurance branches is required.
According to the expert, the world over, there is multiple insurance data analytics companies providing competitive services to insurers.
A penalty of ₹1 crore recommended due to the repetitive nature of non-compliance by the private sector insurer by the officer.
Post demerger, Bharti AXA General Insurance will cease to be a going concern and both Bharti and AXA will be public shareholders.
It is mandatory for general and health insurers to provide the reimbursement-based standard COVID-19 product, while offering the benefit-based product is optional for all insurers.
IRDAI had on March 23 and April 4 announced an additional grace period of 30 days for policies where the premium was due in March and April.
The IRDAI circular, dated 6 September, came after the government emphasized that traffic violation history should be considered as a parameter to fix motor insurance premiums. Usually, up until now, the premiums were, typically, dependent on the car’s make, model and variant.
Even the Employees Provident Fund Organisation (EPFO), sources said, could pull back from NBFC investments to avoid default risks.
