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Miller continues Asia expansion, enters Korean market
Ron Whyte, Head of Asia at Miller, commented: “Today’s announcement...
McGill offers property war reinsurance for Ukraine
McGill said it had collaborated with local Ukrainian insurer ARX to...
Health and motor insurance renewal date further extended till May 15
“With a view to mitigate hardship to policyholders whose health&motor (3rd party) insurance policies are due for renewal during lockdown, Govt. has issued a notification allowing policyholders to make payments on or before 15.05.2020 towards renewal of their policies,” said Finance Minister N Sitharaman .
Hiscox says UK lockdown not covered under business interruption policy
The insurer said its “realistic disaster scenario” estimates a net loss of $175 million due to a global pandemic, mainly from losses on event cancellation, entertainment and travel insurance.
Covid-19: Govt to transfer financial assistance only through DBT mechanism
“India has JAM (Jan Dhan, Aadhaar, Mobile) based DBT mechanism for diff. schemes. Successfully deposited Rs. 28,256 Cr. to 31.77 Cr. beneficiaries bank a/cs under Covid relief. DBT is fulcrum for targeted delivery of such measures. Pls don’t believe any outlandish rumours!,” the Department of Financial Services said in a tweet.
Finance Minister Nirmala Sitharaman had last month announced that as many of 20.5 crore women Jan Dhan account holders will get Rs 500 per month for the next three months.
Covid-19 covers of ICICI Lombard and Digit Insurance to be available in Flipkart platform
‘Digit Illness Group Insurance’ offered by Digit Insurance allows consumers to avail a hospitalization cover up to a sum assured of Rs.1 lakh with an annual premium of Rs.511. Further, there is no limit on room rent or ICU. The policy covers 30 day pre and 60 days post hospitalization fee. Additionally, policyholders can also avail 1% of the sum assured for ambulance services.
Merging PSBs can continue their existing bancassurance partnerships for a year:IRDAI
Punjab National Bank (PNB) has absorbed Oriental Bank of Commerce and United Bank — which makes it India’s second-largest bank after State Bank of India (SBI).Similarly, Syndicate Bank merges with Canara Bank, Union Bank of India absorbs both Andhra Bank and Corporation Bank. Indian Bank and Allahabad Bank’s merger also comes into effect from April 1
IRDAI asks insurers to follow rules strictly in paying commissions to the intermediaries
The board approved policy should stipulate the specific proportion of rewards to commission/remuneration which sholud be reasonable and justifiable, to individual insurance agent/insurance intermediary subject to the overall limit as specified in the existing regulations-Reg 6(d)(ii) and 6(e)(ii) of IRDAI (Payment of commission or remuneration or reward to insurance agents and insurance intermediaries) Regulations, 2016.
Mega merger of state-run banks comes into force from April 1, says RBI
As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra and Corporation banks into Union Bank of India
Under this, the branches of Oriental Bank of Commerce and United Bank of India will operate as branches of Punjab National Bank from April 1, 2020, and branches of Syndicate Bank as that of Canara Bank, the RBI said in a separate releases.
21-day lockdown Care Ratings predicts Rs 7.2 lakh crore impact on economy
“Assuming 80 per cent production is lost, and 20 per cent of the economy (that constitutes the essential services and farming) still functions, Rs 35-40000 crore of GDP will be lost every day. Of the 21 days lockout, 14 days spill over to FY21, therefore potential total loss will be in the region of Rs 6.3-7.2 lakh crore assuming 18 working days will be split across the two years,” says the report.
Govt bans export of anti-malarial drug hydroxycloroquine
the country has also banned exports of all types of ventilators, including any artificial respiratory apparatus or oxygen therapy apparatus or any other breathing appliance or device.Last week, it had banned export of certain ventilators, surgical and disposable masks and textile raw material used for making masks.There is a shortage of hand sanitisers and face masks in the market amid the coronavirus outbreak as people resorted to panic buying.
Caronavirus Pandemic: Companies’ recruitment strategy shift to virtual platforms
Companies are checking the travel history (official and personal) of the past three months, also their medical history is getting checked. However, if they have any illness, status of illness, track of residence locations, any address update that need to be done is also done.