Acko General Insurance Fined ₹1 Crore by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI), India’s top insurance watchdog, has recently imposed a penalty of ₹1 crore on Acko General Insurance. The reason? Multiple violations of regulatory norms related to outsourcing practices and commission structures. Specifically, Acko was found to have engaged with…
Insurance Litigation Week in Review: The world of insurance litigation saw significant developments this week, particularly in cases involving American International Group (AIG) and its policyholders. In a notable ruling, a court determined that an AIG unit is not obligated to defend a firearms retailer accused of contributing to gun violence through the sale of…
Rs 1 Crore Accident Insurance Free: In a landmark move aimed at ensuring the financial security and welfare of its personnel, the Central Industrial Security Force (CISF) has signed a new Memorandum of Understanding (MoU) with the State Bank of India (SBI). As per the MoU, CISF personnel – both serving and retired – will…
Insurance Framework in Aviation: The Indian aviation industry, once heralded as the epitome of modern mobility, is now grappling with a new kind of turbulence—not just in the skies but in courtrooms and boardrooms. A recent incident involving Air India in Ahmedabad has served as a wake-up call, revealing the fragile balance between safety, financial…
General Insurance Councils Talking Dog Ad: In a sea of predictable insurance advertisements that oscillate between fear-based messaging and straight-up educational pitches, the General Insurance Council (GIC) has taken a refreshingly new route. With a campaign led by a talking dog named Barfi, voiced by the talented Brijendra Kala, the GIC breaks new ground in…
Insurers Adapt to Escalating Climate-Driven Hazards: As climate change continues to accelerate, the insurance industry finds itself at a critical juncture. With rising sea levels, intensifying hurricanes, unprecedented wildfires, and extreme weather events becoming more frequent, insurers are rapidly adapting to a new era of climate-driven risks. This evolution is reshaping the way insurance companies…
Reliance Health Infinity Insurance: Health is wealth, and safeguarding it has never been more important. With rising medical expenses and an increasing number of lifestyle diseases, having a robust health insurance plan is no longer an option—it’s a necessity. Reliance Health Infinity Insurance stands out as a comprehensive and affordable solution that caters to both…
Indias Health Insurance Boom: India’s health insurance sector is poised for a significant transformation, with forecasts indicating a growth from USD 15.99 billion in 2024 to USD 38.2 billion by 2032, registering a compound annual growth rate (CAGR) of 11.5%, according to research by SkyQuest. This expansion highlights a growing awareness and demand for health-related…
New York Life Insurance Company: In a significant move that reflects growing investor confidence in India’s real estate market, New York Life Insurance Company (NYL) has committed to invest Rs 550 crore across two upcoming projects by Max Estates in Noida. The announcement came via a regulatory filing by Max Estates, marking a pivotal development…
