The Insurance Development and Regulatory Authority (IDRA) has initiated steps to clear unpaid claims and improve governance and accountability in the insurance sector.
The Department of Banking and Insurance at the University of Dhaka and Insurance News BD have signed a MOU to jointly conduct a comprehensive study on the country's insurance sector.
The Insurance Development and Regulatory Authority (IDRA) plans to bring major reforms in the country's insurance industry, including a crackdown on data manipulation as part of its broader plan to protect policyholder interests, reported the Financial Express.
The Bangladesh insurance regulator, Insurance Development and Regulatory Authority (IDRA) plans to introduce new rules for filling CEO positions that remain vacant for more than six months, reported the New Age.
The new chief of Insurance Development and Regulatory Authority (IDRA) of Bangladesh has said that the settlement of unpaid claims totalling around BDT70bn ($568m) will be her top priority, according to a news report in the financial daily, The Financial Express.
Bangladesh's insurance sector requires comprehensive structural reforms, stronger regulations and governance, and measures to bring back public confidence in the industry.
Chairman of Bangladesh's Insurance Development and Regulatory Authority (IDRA), Dr M Aslam Alam, has resigned from his post.
Former President of the Bangladesh Insurance Association (BIA) and architect of the country's insurance sector, Sheikh Kabir Hossain, passed away on 14 February at the age of 84.
A newly signed trade deal between the US and Bangladesh requires Bangladesh to remove the 50% mandatory cession to national reinsurer Sadharan Bima Corporation and opening the market to full competition.
Bangladesh's insurance regulator Insurance Development and Regulatory Authority (IDRA) has imposed a ban on agent commissions in the non-life insurance sector. This move implies that there will be no agents serving the non-life branch.