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Eco/Invest/Demography

India bars virus vaccine maker from exporting

The company also has been barred from selling the vaccine on the private market.

As a result, Adar Poonawalla, Serum Institute’s  CEO said, the export of vaccines for COVAX — the ambitious initiative created to ensure equitable access to COVID-19 vaccines set up by the World Health Organization, vaccines alliance GAVI and CEPI, a global coalition to fight epidemics — won’t begin until March or April.

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5% obligatory cession for GIC Re in general insurance business to continue in 2021-22:IRDA 

Percentage of commission on obligatory cession for different classes of business will  be as follows:
i) Minimum 5% for Motor TP and Oil & Energy insurance.ii) Minimum 10% for Group Health insurance iii) Minimum 7.50% for Crop Insurance.iv) Average Terms for Aviation insurance.
v) Minimum 15% for all other classes of insurance business.

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