The Contracts of Insurance Bill, which aims to shift disclosure responsibilities to insurers and prevent unfair claim denials, passes its first reading in Parliament.
India's 'Bima Vistaar' product includes insurance coverage for life, health, personal accident, and property, and a parametric claims process for property.
Representatives from both cities look to strengthen financial market ties, with Belt and Road risk management, captive insurance, and ILS identified as key areas within insurance.
Individuals 65 and older can now acquire health insurance, as IRDAI broadens coverage inclusivity and reduces waiting periods for pre-existing conditions.
