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IFSCA cancels license of Prowess Insurance Brokers
GIFT City based the IFSCA has cancelled the license granted to...
Govt planning to use AI for identifying mule accounts to check cybercrime: Amit Shah
Amit Shah, Union Home Minister Union Home Minister Amit Shah said...
Retail to insurance: Amazon, Ambani’s Jio prep for ‘one fierce battle’
The US giant is fanning out at a pace not seen elsewhere in the world. Amazon is now delivering prescription and over-the-counter medicines and herbal remedies in Bangalore. It started last month selling car and motorbike insurance–a first for the Seattle-based online giant–claiming to finalise policies in under two minutes without paperwork.
“This is going to be one fierce battle,” said Satish Meena, senior forecast analyst at Forrester Research Inc. “Amazon and Reliance want to meet a person’s every need from online retail to financial services to entertainment. It’s a fight for the household’s spending.”
Covid-19: India’s flimsy antigen testing regime ‘like flipping a coin’
With one of the world’s fastest-growing epidemics but also one of the lowest testing rates, India in late June started to use quick antigen tests to ramp up detection. But the tests, which can report false negatives as much 50 per cent of the time, threaten to obscure the true picture of its outbreak, further challenging containment efforts.
Amazon starts online drug sales in Bengaluru
Amazon had last month decided to open 10 new warehouses in India and start offering auto insurance. It had also secured clearance for alcohol delivery in the Indian state of West Bengal, Reuters reported in June.
Oneglobal Broking sets up Asian operation in Hong Kong
Jonathan Palmer-Brown,cairman, Oneglobal commented, “This is an exciting moment for Oneglobal as we extend our reach into Asia. I’m proud that we are one of the first broking businesses in Hong Kong to be authorised by the Insurance Authority, which is testament to our strong business plan and outstanding leadership. Anthony Langridge is known to many Asian business leaders and his appointment is a vital building block in our campaign to grow across Asia, which will see new colleague and location announcements in the coming months.”
AstraZeneca to be exempt from coronavirus vaccine liability claims in most countries
With 25 companies testing their vaccine candidates on humans and getting ready to immunize hundred millions of people once the products are shown to work, the question of who pays for any claims for damages in case of side effects has been a tricky point in supply negotiations.“This is a unique situation where we as a company simply cannot take the risk if in … four years the vaccine is showing side effects,” Ruud Dobber, a member of Astra’s senior executive team, told Reuters.
“In the contracts we have in place, we are asking for indemnification. For most countries it is acceptable to take that risk on their shoulders because it is in their national interest,” he said, adding that Astra and regulators were making safety and tolerability a top priority.
Guy Carpenter appoints MD of global risk solutions
Piatti will be responsible for originating and driving opportunities to better serve our clients in the customized reinsurance space across Europe and MENA, including structured reinsurance treaties and capital management/solvency-related transactions. As clients look to further optimize their reinsurance programs, Guy Carpenter is continuing to enhance its ability to create such customized products
“Arogya Sanjeevani”policy can be offered as a group cover:IRDAI
The group policy is expected to provide protection to a large number of employees engaged in manufacturing, services, SMEs, MSMEs,logistics sector and migrant workers, catering to their medical needs, said IRDAI
Govt notifies new rules for e-commerce entities
According to the new rules, the e-commerce players will have to display the total price of goods and services offered for sale along with a break-up of other charges.
Under the rules, e-commerce players have to display details about return, refund, exchange, warranty and guarantee, delivery and shipment, and any other information that may be required by consumers to make informed decisions.
Amazon to offer auto insurance in India
Amazon Pay, the India unit’s payments arm, has partnered with private firm Acko General Insurance to offer car and motor-bike insurance, the company said in its blog.
Twitter shares rise on record yearly growth in daily users
Twitter’s average monetizable daily active users (mDAU) increased 34% year over year to 186 million, above analysts’ estimate of 176 million, in a rise it said was primarily driven by external factors such as shelter-in-place requirements and increased conversation around the COVID-19 pandemic.Chief Executive Jack Dorsey opened a conference call with analysts by apologizing for the hack that compromised the accounts of high-profile users last week, saying “we feel terrible.” In a statement, Dorsey said Twitter had taken steps to improve its security and “resiliency against targeted social engineering attempts.”