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IRDAI tightens product and pricing regulations to check undercutting or inflating of premiums by general insurers

Analysts point out that, such regulations to check undercutting of premiums, that have been happening since detariffing was launched in the Indian general insurance industry in 2007 were overdue. Such cut throat unethical competition was generating huge underwriting losses in the domestic general insurance indstry which was not good for the financial viabilities of the players who are saddled with underwriting losses and even net losses even after so many years of operations..     

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Health Minister Vardhan approves National Policy for Rare Diseases, 2021

“The Rare Diseases Policy aims to lower the high cost of treatment for rare diseases with increased focus on indigenous research with the help of a national consortium to be set up with the Department of Health Research, Ministry of Health and Family Welfare as convenor,” it said.

The policy also talks about the creation of national hospital based registry of rare diseases so that adequate data is available for definition of such diseases and for research and development related to rare diseases within the country, it said.

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India’s daily COVID-19 cases surpass 100,000 mark for first time

Twelve states — Maharashtra, Chhattisgarh, Punjab, Karnataka, Delhi, Tamil Nadu, Madhya Pradesh, Gujarat, Haryana, Rajasthan, Uttar Pradesh and Kerala are displaying an upward trajectory in daily new cases, the ministry said. Fifteen states and UTs have lower tests per million population than the national average of 1,80,449, the ministry stated.

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Accident at power plant in UP’s Sonbhadra, 13 labourers injured

In a letter addressed to the district magistrate and Superintendent of Police of Sonbhadra, factory manager of Lanco Anpara Power Ltd SK Dwivedi said the accident took place around 2.45 am when the iron structure fell during maintenance work.

While eight laborers were discharged after treatment, another five are in a serious condition and have been admitted to a government hospital, he said.

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