Minister of State for Finance Pankaj Chaudhary informed the House...
Category:
Non-Life
Latest
RBI approves Central Bank buying stakes of Generali group’s Indian companies
The Reserve Bank of India (RBI) has approved state owned Central...
AM Best maintains outlook for global reinsurance industry to positive
Property reinsurance rates and terms have been relatively stable...
Need to step up efforts to tackle climate change impact on agriculture, entire ecosystem: PM
Modi said, “Not only agriculture, climate change is a big challenge to the entire ecosystem. …Due to climate change, new types of pests, new diseases, epidemics are coming. Due to this, there is a big threat to the health of humans and livestock and crops are also being affected.?
Climate change impact is on fish production and animal health and output. As a result, farmers and fishermen have to bear the losses, he said
National Consumer Court asks NIA to pay Rs 1 lakh health claim linked to alcohol consumption
Clearly, nothing is mentioned in the policy relating to exclusion that treatment expenditure of any disease caused by use of alcohol or arising out of the use of alcohol will not be admissible, said the National Consumer Court..
New India Assurance had rejected the claims saying that disease of of the patient (claimant) was due to the alcohol consumption that IS not covered in the company’s policy.
Centre extends nationwide COVID-19 containment measures till Oct 31
The home secretary said there should be a continued focus on the five-fold strategy i.e. Test-Track-Treat-Vaccination and adherence to COVID-appropriate behaviour, to safely navigate through the festive season and avoid the possibility of a surge in COVID-19 cases.
MS Amlin launches new agriculture reinsurance offering with strategic hire
The agriculture reinsurance offering will be available globally and coverage includes five core products: crop insurance, livestock insurance, aquacultural insurance, forestry and weather index products. The launch comes as part of MS AAG’s wider global diversification strategy, with Bektleuov leading the new offering.
Active COVID-19 cases in country lowest in 194 days
The death toll climbed to 4,47,751 with 378 fresh fatalities, according to the data updated at 8 am.
Investors with $4 trln assets aim to tackle Asian firms on climate change goals
The six investors include BMO Global Asset Management EMEA, Fidelity International, Dutch pension fund PGGM, Britain-based Local Authority Pension Fund Forum, Aviva Investors and Legal & General Investment Management.
Initial engagement will focus on carbon risk and coal at banks and coal-exposed power companies, the group of investors, facilitated by Singapore-based advisor Asia Research & Engagement (ARE), said in a statement.
The move comes as investors become more active in the field of environmental, social and corporate (ESG) governance, helping to shape firms’ climate commitments to better manage that risk for their clients. ESG-related steps they have taken include backing activist shareholder resolutions and voting on board members and remuneration.
UN development arm launches disaster insurance programme
The facility will also have funding from other sources, including the UNDP itself, a spokesperson said. The UNDP is aiming to help create insurance protection from socio-economic, climate and health-related disasters in more than 50 developing countries by 2025, it said.
“Insurance and risk-finance products, tools and services can secure our critical infrastructure, protect our agriculture and businesses, and preserve critical ecosystems that make life on earth possible,” said UNDP Administrator Achim Steiner.
AXA XL appoints Head of Climate to accelerate sustainability efforts
“As a signatory of the UN Principles for Sustainable Insurance, AXA XL is committed to taking a leading role in working with our clients and business partners to raise awareness of climate issues, manage risk and develop solutions to create a more sustainable society.Andy’s expertise and knowledge of our business will allow us to further advance our understanding and response to climate change by ensuring we continue to understand how the climate is evolving and how this impacts our overall strategy. Andy is charged with embedding our climate strategy across AXA XL from underwriting to claims, to risk and operations ensuring that we meet our climate leadership ambitions,” said Scott Gunter, CEO of AXA XL
Amazon to start offering insurance to UK businesses: Broker
Members of Amazon’s Business Prime program will be able to buy cover from Superscript such as contents insurance, cyber insurance and professional indemnity insurance, which a Superscript spokesperson said would be underwritten by “major UK insurers.” They will be offered a discount of 20% to current rates as a way of enticing businesses over to them.
Gulab impact: Heavy crop damages reported in Andhra Pradesh
“An ex gratia of Rs 5 lakhs to the families of the deceased and Rs 1,000 should be given to each family while returning home from relief camps,” said Andhra Pradesh Chief Minister YS Jagan Mohan Reddy.
Agricultural and horticultural crops in over 1.63 lakh acres suffered damaged due to the heavy downpour in Srikakulam, Vizianagaram, Visakhapatnam, East Godavari, West Godavari and Krishna districts, Agriculture Minister K Kanna Babu said while citing preliminary estimates.