India launches maritime insurance pool with sovereign guarantee
Indian maritime operators can route war-risk cover through the new domestic pool
Insurance
11 briefs
Dubai Financial Services Authority prohibits and fines reinsurance broker for misleading conduct
DIFC reinsurance brokers must evidence premium and brokerage accuracy
DFSA consults on Islamic finance framework enhancements
DIFC firms must assess Islamic endorsement and Takaful disclosure changes before the June 19 consultation deadline
India establishes sovereign maritime insurance pool with ₹12,980 crore guarantee
State-backed insurance available for India-linked shipping risks
IRDAI mandates Ind AS accounting for insurers
Insurers must shift to new reporting framework
Prudential Regulation Authority fines U K Insurance for Solvency II reporting failures
UK insurers must evidence Solvency II reporting controls and data accuracy
US provides up to $20bn reinsurance for Gulf maritime trade
Government-backed cover supports shipping operations
General Insurance Corporation of India withdraws marine hull war cover in high-risk regions
General Insurance Corporation of India (GIC Re) ceased providing Marine Hull War Risk cover for specified high-risk zones effective 7 pm India time on March 3.
UK sanctions Maritime Mutual entities under Russia sanctions regime
Asset freeze and service restrictions apply to designated insurer entities
India introduces risk-based deposit insurance premiums for banks
Banks shift from flat-rate to risk-based premium system
India's IRDAI approves risk-based capital norms and new insurance accounting rules
Insurers must shift to risk-based capital and new accounting standards