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WMO report shows 2023 shattered climate records experts highlight concerns for India
“Greenhouse gas levels are record high. Global temperatures are...
Centre approves Rs1658 cr recovery and reconstruction plans for Joshimath
Joshimath was hit by landslide and ground subsidence and the...
Insurers rush to exclude Coronavirus epidemic from event-cancellation protection
“As things stand at the moment, you would struggle to get coronavirus cover for any event, until we know where we are with this virus,” said Rebecca Mitchell, contingency underwriter at ArgoGlobal.
FPIs turn net buyers; put in $6.3 billion in December quarter
According to a Morningstar report, foreign investors started the quarter on a subdued note as they turned risk-averse with fears of a global recession and trade wars gaining momentum.
Coronavirus leads companies with supply chain disruptions to invoke ‘Force Majeure’
-Force majeure refers to unexpected external circumstances that prevent a party to a contract from meeting their obligations.
-The underlying event must be unforeseeable and not the result of actions undertaken by the party invoking force majeure. Natural disasters, strikes, and terrorist attacks can all be force majeure events.
-Declaring force majeure may allow a party to a contract to avoid liability for nonperformance.
Etiqa Insurance Singapore protects customers with Financial Assistance Benefit amid COVID-19 Outbreak
Staying committed to their mission to make the world a better place, the Etiqa Insurance Singapore will provide hospitalisation benefits of S$100 daily (up to 10 days) for patients in stable condition and S$200 daily (up to 5 days) for those in the Intensive Care Unit (ICU), including a lump sum payment of S$50,000, in the event of death, as a result of the COVID-19 viral infection.
Coronavirus outbreak in China disrupting global tech sector: S&P
“Our base case is that the virus will be contained globally in March 2020 (no new transmissions in April), allowing travel and other restrictions to be unwound by the middle of the second quarter,” an Asia economist of S&P Global Ratings said. S&P said it has not taken any rating actions related to the outbreak.
IAI to host 3-day 21st Global Conference of Actuaries in Mumbai from Feb 17
“The Global Conference of Actuaries provides a platform where the actuaries and non-actuaries from all across the globe gather and share their views and opinions on matters that impact the financial services Industry, particularly in the area of Insurance,pensions, risk management, data science and analytics. With such an event, we create opportunities for actuaries all over the globe to learn/contribute papers/presentations on the financial aspects that affect the financial industry as a whole. This year is special as we complete 75 years of the Indian Actuarial Profession and celebrate platinum jubilee year,” said Sunil Sharma, President Institute of Actuaries of India.
Renewable insurance plays an important role in Asia’s energy transition:Willis Towers Watson
with the renewable energy industry particularly susceptible to weather volatility, index-based solutions are being increasingly used to address power generation risks, wind and low solar as well as power price volatility and power outages not linked to physical damage.
Prolonged slide in financial health of Indian firms comes to end
Care Ratings Debt Quality Index, which tracks credit metrics of 1,604 rated firms on a scale of 100, inched up 0.04 points to 88.02 in January, after eight straight months of decline. The prolonged downswing in credit ratings, triggered by liquidity stress in the shadow banking sector, had worsened earlier as companies struggled to raise funds and sell assets to pare debt, according to the rating firm
Cabinet approves Rs 2,500 cr of capital infusion in 3 PSU gen insurance cos
The Cabinet approves the proposal for capital infusion and immediate release of Rs 2,500 crore for three public sector general insurance companies in the light of the critical financial position and breach of regulatory solvency requirements,” an official statement said.
I-T Dept to share taxpayers’ PAN, other data with SEBI to help in stock market-related probes
Name and PANs of partners in partnership firm and LLPs, KYC information contained in IT Return like email id, mobile number, address, IP address appearing on the acknowledgement of the filed IT Return, financial particulars of the business as filed in ITR and tax audit report, including income from trading in securities, bank account details.