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Eco/Invest/Demography

IRDAI panel makes various suggestions on retail engineering insurance products

On sum insured definition for retail segment for engineering products, it said: “Considering a near unanimous view from all stakeholders, the panel suggests Sum Insured limit of up to Rs 50 crores is recommended for retail segment”.

The group, as per the report, opined that the retail products with standard wordings with uniform coverage of a good range of essential covers are needed to give a comprehensive protection boost to the SME and MSME sector entities and units.

The products should be offered by all Indian insurers without any changes or modifications, it said.

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Levels of air pollutants on rise in Indian cities, says study

“We were surprised to see the increase in formaldehyde above Delhi, Kanpur and London” a clue that emissions of other volatile organic compounds may be changing, potentially driven by economic development and changes in domestic behaviour. Our results emphasise the need to monitor our air for the unexpected, and the importance of ongoing enforcement of measures for cleaner air, the study’s co-author Professor William Bloss, also from the University of Birmingham, said.

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One out of four people experienced mild side effects like headache, fatigue after receiving Pfizer or AstraZeneca Covid-19 vaccine

“The data should reassure many people that in the real world, after effects of the vaccine are usually mild and short-lived, especially in the over 50’s who are most at risk of the infection,” Tim Spector, Professor of Genetic Epidemiology at the varsity.

“The results also show up to 70 per cent protection after 3 weeks following a single dose,” Spector said.

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India’s coronavirus infections cross 18 million; record number of daily deaths

India reported 379,257 new COVID-19 cases and 3,645 new deaths on Thursday, according to health ministry data. It was the deadliest day so far for any country hit by the pandemic. India’s best hope to curb its second deadly wave of COVID-19 was to vaccinate its vast population, said experts, and on Wednesday it opened registrations for everyone above the age of 18 to be given jabs from Saturday.

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Bombay HC refuses to hear PIL seeking uniform rate of COVID-19 vaccines

The HC, however, said the petition should have been filed before the Supreme Court which, while taking up suo motu (on its own) cognisance of matters pertaining to COVID-19, had said it would hear all pan-India issues.

”The Supreme Court has said issues that have pan-India effect will be dealt with by them and pricing is a phenomenon applicable all over India. We are not entertaining it (PIL) as the apex court has fairly covered it,” the court said.

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Tackling climate change through emerging hydrogen industry: Managing complex risks

Driven by climate change, the possibilities of energy storage, use as a fuel and the long-term intention to replace reliance on coal and oil, hydrogen has the potential to morph from a niche power source into big business.
New bulletin from Allianz Global Corporate & Specialty (AGCS) highlights operational risks that need to be addressed in hydrogen projects, including fire and explosion hazards, impact of embrittlement and business interruption exposures.
AGCS sees increasing demand for insurance coverage for hydrogen solutions in future.

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UN offered its integrated supply chain to help India fight Covid: Spokesman

Farhan Haq, Deputy Spokesman for the UN chief said 11 help desks and on-site counselling activities on COVID-19 prevention and business continuity were set up by the UN Development Programme (UNDP), the UN Industrial Development Organization (UNIDO) and the International Labour Organisation (ILO) and these have benefitted over 140,000 employees.

UNIDO also developed an online platform to help companies bounce back from the crisis, tailored to smaller businesses, while ILO helped over 100,000 self-employed workers to access social security measures and training on safety and health.

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