Xiang Junbo, chairman of China Insurance Regulatory Commission (CIRC), answers a question at a news conference on the sidelines of the National People's Congress (NPC), China's parliament, in Beijing, China, March 12, 2016.This month it suspended Evergrande Life, the insurance arm of conglomerate China Evergrande Group (3333.
The California insurance regulator announced on Monday that it was investigating new allegations by whistleblowers of fraud and misconduct at Wells Fargo WFC, -0.13% The allegations were made by former Prudential Insurance Co.
Currently, banks as corporate agents can sell policies of only one insurer each in life, general or health insurance sectors.The Indian insurance regulator's proposal to make banks sell policies of at least two insurers of each category - life, general and health - has thrown up an unexpected brand equity challenge for the banks, insurance experts say.
Investment in this area will be the sole prerogative of the IRDA.He asked if the change indicated that the IRDA has lost its credibility.
RBI Governor Urjit Patel on Wednesday made a case for setting up a unified regulator and a world-class legal framework for International Financial Services Centres (IFSCs) to expeditiously deal with dispute resolution and other issues.Speaking at the Vibrant Gujarat Global Summit, Patel said a high-level working group needs to be set up to look into the existing laws governing financial contracts in India.