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Indian insurance regulator IRDA has said the guidelines for listing of non-life insurance companies will be issued by March, 2012. “General/non-life insurance listing rules will be issued by March,” IRDA Chairman J Hari Narayan told reporters here Friday. According to the Insurance Act, promoters with 26 per cent stake can offload equity after 10 years [...]
Insurance Firm Sues CPA for $5.7 Million
An insurance company claims that relying on false financial statements has cost it $5.7 million. Travelers Casualty & Surety Co. of America has filed a federal lawsuit against the CPA, H. Neal Privitt of Little Rock, who provided the financial statements in an attempt to recover the money. Travelers was the surety bonding company for [...]
ASIAN-BASED IGATE’S Q3 NET INCOME UP 60% AT US$14.3 MLN
US-based, Indian-focused IT outsourcing firm iGATE on Wednesday said its net income jumped by 60.67 per cent to US$14.3 million in the quarter ended September 30, 2010. The company, which earns 80 per cent of its revenue from North American markets, had registered a net income of $8.9 million in the third quarter last year. [...]
Flood Insurance Among Australia’s Worst Products: Consumer Grp
November 1st, 2011 
gary Flood insurance is so confusing it’s been named as among Australia’s worst products, alongside a weight-loss nasal spray and quail eggs to cure erectile dysfunction. Consumer group Choice has awarded eight lemon trophies this year for dodgy, dubious and deceitful goods and services as part of its sixth annual Shonky Awards. In the wake of [...]
India’s Karnataka State Govt Loans To Lic For Issue Of Bonds
November 1st, 2011 gary BANGALORE – India’s Karnataka state government has released Rs 436 crore (US$87.71 million) to LIC for issuing bonds to beneficiaries selected under ‘Bhagaylakshmi’, the girl child insurance scheme. The amount was released a fortnight ago, state’s Minister for Women and Child Development C.C Patil told reporters here.
H.I.M. On Call Introduces New AvianceHealth Technology Solution
October 5th, 2011 gary H.I.M. On Call announced the availability of its latest AvianceHealth technology solution, Aviance DNFB Management at the American Health Information Management Association (AHIMA) Convention and Exhibit at the Salt Palace Convention Center in Salt Lake City, Utah. The announcement was made by Joseph J. Gurrieri, RHIA, CHP, Vice President and COO. According to customers already [...]
Heffernan Insurance Brokers VP Speaks at California Women’s Network Meeting
October 5th, 2011 gary Julie Davis, VP of Heffernan Insurance Brokers, provided a keynote speech at Stanford University during the quarterly California Women’s Network meeting in July 2011, according to a release. She spoke about the growing area of Collaborative Consumption. Latitude and Shareable Magazine released findings of “The New Sharing Economy Study,” which uncovered new opportunities for entrepreneurs, [...]
Malaysian General Insurance Agents Forecast To Grow 26% This Yr
October 5th, 2011 gary The number of general insurance agents in Malaysia is expected to grow by 26 per cent this year, from more than 35,000 in the industry in 2010. The Chief Executive Officer of the Malaysian Insurance Institute (MII), Khadijah Abdullah said this is based on the average trend of about 800 candidates per month, who sat [...]
Australian Union Concerned By Suncorp Offshore Reports
October 5th, 2011 gary Queensland-based insurer Suncorp (ASX:SUN) is planning to send thousands of jobs offshore after its hard-working employees raised its reputation in the wake of the summer floods, an Australian union claims. Finance Sector Union national secretary Leon Carter says Indian-based outsourcing companies World Network Services and Genpact are in Australia assessing Suncorp workplaces for jobs suitable [...]
Indian Govt Looks For New Chief Of Insurance Firm
October 5th, 2011 gary The Indian Finance Ministry is to start searching for a regular chairman and managing director for state-owned New India Assurance following the suspension of chief, M. Ramadoss. New India Assurance, the largest public sector unit (PSU) general insurance company, the government has to appoint a regular CMD. Also, it is difficult for the interim chairman [...]
