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16-30 of 97 results
Philippines central bank permits banks to sell life insurance
By IBR Staff Writer
The Bangko Sentral ng Pilipinas, the central bank of Philippines, has granted permission to lenders to sell life insurance policies as part of their day-to-day transactions.
Regulatory & Risk > News
Hong Kong's insurance authority prohibits indemnity commissions
By IBR Staff Writer
The Office of the Commissioner of Insurance, Hong Kong's insurance authority, has reportedly imposed a ban on charging upfront commission payments on long-term policies, as part of its strategy to control fraudulent sales practices.
Regulatory & Risk > News
Markel applies for Dubai insurance licence
By IBR Staff Writer
Markel International, the specialist insurer, has applied to the Dubai Financial Services Authority (DFSA) to establish a company to operate within the Dubai International Financial Centre (DIFC).
Regulatory & Risk > News
India's Cabinet approves 49% FDI in insurance
By IBR Staff Writer
The Indian Cabinet has approved increasing the foreign direct investment (FDI) in the insurance sector to 49% from the current level of 26%, meeting long pending demand of the industry to open up the sector to spur growth.
Regulatory & Risk > News
IRDA may permit five-year policies to simplify motor insurance renewals
By IBR Staff Writer
The Insurance Regulatory and Development Authority (IRDA) is reportedly considering to grant permissions for a five-year insurance cover to simplify renewal process for commercial vehicles.
Regulatory & Risk > News
ABI requests FCA to issue guidelines for information on insurance renewals
By IBR Staff Writer
The Association of British Insurers (ABI) has requested the Financial Conduct Authority (FCA) to issue guidelines prescribing a minimum standard of information to be provided to customers at the time of motor or home insurance policy renewals.
Regulatory & Risk > News
British insurers criticize EU's insurance Solvency II regulation
By IBR Staff Writer
Most of the UK's insurance companies have criticized the European Union's (EU) impending Solvency II for insurers, saying that the new capital rule will increase their financial burden.
Regulatory & Risk > News
Outlaw insurance payouts for whiplash injury before medical exams, urge MPs
By IBR Staff Writer
Members of Parliament (MPs) have urged to outlaw insurance payouts for whiplash injury before medical exams.
Regulatory & Risk > News
UK CMA proposes changes in PMI market
By IBR Staff Writer
The UK Competition and Markets Authority (CMA) has proposed the chnages it seeks to make in the country's private motor insurance (PMI) market, as part of its strategy to boost competition and slash motor insurance premiums.
Regulatory & Risk > News
India's IRDA to unveil insurance repository pilot for life insurers
By IBR Staff Writer
The Insurance Regulatory and Development Authority (IRDA) of India will launch a pilot on life insurance repository (IR) system, as it gears to digitalization of life insurance industry in the country.
Regulatory & Risk > News
Earthquake court approach misguided: ICNZ
By IBR Staff Writer
Lawyers will be the only winners from the Labour Party's decision to set up an Earthquake Court that would be funded by everyone who takes out insurance in New Zealand and potentially Cantabrians may have to wait even longer to have claims resolved, the Insurance Council chief executive Tim Grafton said.
Regulatory & Risk > News
Senate Banking Committee passes TRIA reauthorization
By IBR Staff Writer
The US Senate Banking Committee approved S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, by a unanimous vote of 22-0. This bill extends the existing TRIA program for seven years while taking steps to further protect taxpayers.
Regulatory & Risk > News
Singapore MAS plans to implement risk-based capital 2 framework from 2017
By IBR Staff Writer
The Monetary Authority of Singapore (MAS) is planning to complete the calibration factors and features of the (RBC 2) framework by 2014 and formally implement the regulation from 1 January 2017.
Regulatory & Risk > News
Allstate awarded $3.8M in fraud judgment
By IBR Staff Writer
Based on a six-week jury trial, the United States District Court for the Northern District of Texas has entered a $3.8m judgment in favor of Allstate Insurance Company.
Regulatory & Risk > News
Canada OSFI issues rules for residential mortgage insurance practices
By IBR Staff Writer
Canada Office of the Superintendent of Financial Institutions (OSFI) has issued a set of new draft guidelines to promote and support ethical residential mortgage insurance underwriting practices in the country.
Regulatory & Risk > News
16-30 of 97 results