Asia: Insurance

Issued by the Department for Promotion of Industry and Internal Trade (“DPIIT”) in April 2020, Press Note 3 required prior Government approval for investments coming from countries sharing a land border with India, as well as investments where the beneficial owner was connected to such jurisdictions.

In the wake of the COVID-19 pandemic, the Department for Promotion of Industry and Internal Trade (“DPIIT”) had issued Press Note 3 of 2020 (“PN3”), mandating prior Government approval for investments originating from entities or citizens of countries sharing land borders with India (“LBCs”), or where the beneficial owner of the investment was situated in or was a citizen of such countries.

In commercial insurance disputes in India, one practice continues despite attracting repeated judicial criticism. After a major loss, the insurer appoints a surveyor, the claim is assessed at a substantially reduced amount, and the insured, at times, is forced to sign a discharge voucher accepting a reduced amount towards “full and final settlement.”

由于机构业务扩张、办公成本考量及地方政策吸引等原因，保险机构（指保险公司及分支机构，下同）会面临登记的住所与实际经营地分离的情况

In our previous article on Managing General Agents (“MGAs”) in India, which can be accessed here, we noted that the statutory recognition of MGAs under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act 2025 (“2025 Amendment”) raised important questions for the GIFT City framework.

Due to the ongoing turmoil in the Middle East, many supply chain contracts are in disarray. The Strait of Hormuz has been cordoned off, through which approximately 20% of global petroleum liquids transit daily, driving up war-risk premiums and energy prices.