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Govt and GIC Re are in talks to set up an exclusive mega Pool to reinsure country’s all hydropower plants
N Ramaswamy, CMD, GIC Re ``Currently, due to the huge catastrophic...
Burning cargo ship carrying 3,000 vehicles abandoned off Alaska
Smoke was initially seen rising from a deck loaded with EVs, the...
Cryptocurrency: Covering Losses
Lloyd’s recently announced a new policy to insure against losses stored on certain cryptocurrency wallets. Until the broader insurance market catches up with the rise of cryptocurrency and such insurance becomes more commonly used, most policyholders will need to look...
Rajasthan has 90 per cent health insurance coverage: CM
The state government's Chiranjeevi Health Insurance Scheme, which provides a Rs 10-lakh cover, has come as a relief for people. Against the national average of 41 per cent, Rajasthan has 90 per cent coverage of health insurance, while the coverage is 15.9 per cent in...
Surge in Covid cases strain Chinese hospitals
Wang Guangfa, a respiratory expert from Peking University First Hospital, told the Global Times on Saturday that as the virus spread to the communities in Beijing, more elderly people and those with underlying diseases have been infected and that the capital city has...
Reliance Capital: Hinduja Grp re-enters the fray with a higher offer of Rs 9,400 crore
Lenders will now take a call on whether they will accept Hinduja’s revised bid Analysts say Hinduja offer of Rs 9,000 crore cash upfront trumps Torrent bid of just Rs 4,000 crore cash and the balance to be paid to lenders in three equal instalments in year 3/4/5 with...
Epic winter storm brings frigid temps, snow and floods to US; over 200 million people affected
While it’s packing plenty of snow and frigid temperatures, the storm is mostly noteworthy for its size and speed. Snow, blizzard, freezes and flood warnings and advisories stretch across central and eastern US, its northern fringe and the Deep South, as well as into...
Monitor Influenza-like and Severe Acute Respiratory Illness district-wise: Health Ministry to States, UTs
Rajesh Bhushan,Union health secretary In a letter written to additional chief secretaries, Administrators of all the states and union territories, Union health secretary Rajesh Bhushan said, "Considering the upcoming festive season and New Year celebrations, there was...
Ministry asks banks to cease from using unethical practices to sell insurance policies
There have been instances where life insurance policies were sold to customers aged above 75 years in Tier II-III cities. Usually, branches of the banks push products of their subsidiary insurers. The department has already issued a circular wherein it has been...
Chinese EV firm Xpeng Aeroht’s $1,40,000 car can fly over traffic jams
“The flying car is approaching reality and we think it was the right time to chip in,” Brian Gu, Xpeng’s president, said on the sidelines of the Dubai event, called GITEX In fact, the model is designed to be driven on the road for more than 90% of the time and only...
China in a bind: Whether to recover economy or control Covid spike
Analysts have forecast China's economic growth to slump to 2.8-3.2 per cent this year, which would be the lowest in five decades. China has, for the first time, officially acknowledged Covid deaths in recent weeks. This has given credibility to reports of heavy death...
Rates to stay flat for Ukraine grain cargo insurance-Ascot
Aviation and marine war insurers are concerned that reinsurers – who insure the insurers – will exclude the whole Ukraine, Russia and Belarus region when reinsurance contracts come up for renewal on Jan. 1. A cargo insurance facility providing cover for shipments via...