Ergo-Fesco Insurance Brokerage and BMW (China) granted approval to set up operations, as the NAFR looks to increase foreign investment in the domestic (re)insurance industry.
Insurers should take advantage of automation to leverage the data the new standard will produce, said Martyn van Wensveen, a senior management consultant at EY.
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 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.
ICA report says building codes which mandate new homes can withstand extreme weather could save the nation an estimated AU$4bn per year, drastically reduce the cost of climate change to homeowners.
As part of India's 'Insurance for All by 2047' plan, regulatory changes to solvency, reinsurance, and accounting rules are underway, a move expected to spur sector growth and attract foreign investmen...
