Bangladesh's interim government has appointed former senior secretary Mr M Aslam Alam as the new chairman of the Insurance Development and Regulatory Authority (IDRA), the finance ministry announced in a circular.
Dhaka Metro Rail, which was hit by vandals during student street protests in July 2024, did not insure its operations although insurance was acquired during the rail construction phase, according to Mr Jahangir Shah, the spokesperson and director of the Insurance Development and Regulatory Authority (IDRA).
InsureCow, a provider of livestock insurance and management services which was founded in 2022, is expanding its reach across Bangladesh, with plans to venture as well into other emerging markets.
Zenith Islami Life Insurance plans to raise BDT150m ($1.28m) through an initial public offering (IPO) to comply with regulatory requirements and expand its business.
A new company has applied for a life insurance licence in the Bangladeshi market where there are already 36 life insurers, several of which are loss-making.
The Insurance Development and Regulatory Authority (IDRA) has issued the "Insurance Claims Management Guideline, 2024", which is posted on the agency's website.
The Insurance Development and Regulatory Authority (IDRA) plans to amend the Insurance Act 2020 as a part of its efforts to develop the insurance sector, improve governance, and protect the interests of policyholders.
The Bangladeshi Cabinet has approved a draft law that would make insurance compulsory for all registered vehicle owners.
The insurance sector in Bangladesh faces significant challenges in extending coverage to the vast rural population, with only a small fraction currently insured.
The Kidney Awareness Monitoring and Prevention Society (KAMPS) has called for the introduction of specialised health insurance for kidney patients.