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Insurance industry slammed by earthquake in Nepal

April 30, 2015April 28, 2015 Nordstrom

6.7 quake causes severe property damage in Nepal Nepal, a relatively small country bordering India and Tibet, has been struck by a major earthquake that is expected to produce a large number of claims for the property insurance industry. Over the past weekend, the country suffered from a strong earthquake, which caused significant damage to property near its epicenter. The earthquake was recorded as a magnitude 6.7, with its epicenter being approximately 10 miles south of Kodari, the border crossing from Nepal into the Tibet Autonomous Region. Insurance industry works…

India’s government approved major insurance industry overhaul

March 16, 2015March 14, 2015 S.Vagus

Economic measure receives approval from the Indian Parliament India’s insurance industry is in for an overhaul, as Prime Minister Narendra Modi has passed his first major economic reform a year after coming to power. The Indian Parliament has voted to pass a measure that would have a major impact on the domestic insurance industry, allowing foreign investors to participate in the sector. The measure will increase the investments that foreign parties can make into local companies, which may be a boon for smaller companies that offer certain kinds of coverage.…

Indian government approves ordinance for the insurance industry

January 1, 2015December 30, 2014 Logan B.

Ordinance aims to allow foreign companies to hold a stronger position in the Indian insurance industry The Indian government has been mulling over an ordinance concerning the insurance industry for some time. The issue involves allowing foreign insurance companies to hold greater ownership over local domestic insurance endeavors. Some lawmakers had suggested that this would be a bad move for the domestic market, making it more difficult for domestic companies to compete in India or changing how these companies operate altogether. Supporters of the measure suggested that foreign companies could…

World’s largest health insurance program to take form in India

July 3, 2014July 1, 2014 Nordstrom

india online senior cashless health insurance

Indian government is working on transforming the country’s health care system The Indian government is planning to create the world’s largest health insurance program. A recent, significant shift in government has brought more attention to India’s health care sector, as well as other sectors. The new government is eager to address what it perceives to be problems in the country’s health care structure and will be working with the insurance industry in order to do so. Prime Minister Narendra Modi unveiled plans for this ambitious program during a recent conference…

Premiums set to grow throughout the insurance industry

July 2, 2013July 1, 2013 Logan B.

Swiss Re reports on the state of the insurance industry Swiss Re, a leading global reinsurance firm, has released a new report concerning the state of the insurance industry and the cost of coverage. The global insurance industry has been seeing a great deal of activity recently, some of which has been considered somewhat negative. The negative issues that the industry has had to deal with are largely associated with powerful natural disasters that have occurred in some parts of the world in recent months. The report shows that natural…