The regulator is aiming to study and propose improvements for the channel, as one of ' reaching the last mile' and making insurance products available to 'every nook and corner' of the country.
The deal would be the largest foreign investment in India’s insurance sector and follows regulatory changes in 2021 which made foreign ownership possible in the space.
The Insurance Regulatory and Development Authority of India (IRDAI) is mandating a revised CIS for all insurers, aimed at simplifying policy details and enhancing transparency for insureds.
The NSW Minns Government has ceased further development in flood-prone areas of Sydney's north-west, a move seen as a strong measure to help protect families and businesses from future flood events.
Japanese insurer Mitsui Sumitomo is preparing to launch an artificial intelligence-powered camera service for home security, potentially bundled with insurance solutions.
The IRDAI is enforcing the removal of the arbitration clause for General Insurance retail lines, while prescribing the specific clause to be used for GI commercial lines.
The floods, which occurred between 12 to 28 October 2022, caused record rainfall and led to pluvial and riverine flooding across the Murray-Darling basin of VIC and NSW, and later in Tasmania.
