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18% GST on premiums: a significant deterrent to insurance purchase and penetration
Experts argue in favour of removal of 18% GST on Health covers to...
CM’s pharmacy stores’ on the anvil to make generic medicines available to people: Stalin
M K Stalin,Chief Minister,Tamil Nadu In his Independence Day...
Pfizer in final stages of agreement to supply vaccine doses to India: CEO
Pfizer, he said, has made a specific plan that the mid and low-income countries, which includes India, will receive at least two billion of those doses. There would be at least one billion doses this year, said Pfizer’s CEO Dr Albert Bourla
Gujarat govt announces policy to promote electric vehicles
The state government will provide a subsidy up to Rs 20,000 on the purchase of an electric two-wheeler, Rs 50,000 for three-wheeler and Rs 1,50,000 on the purchase of a four-wheeler, he said.
As per a rough estimate, the new policy will help in saving fuel worth Rs 5 crore every year, Rupani said, adding that carbon dioxide emission will be reduced by six lakh tonnes annually.
‘If we are disciplined, then we can stay safe,’ says Health Ministry on COVID third wave
Speaking about rural vaccination, Paul said, “More than half of the doses administered over the last few weeks were inoculated in rural areas, which makes it clear that rural outreach is possible. We are fully hopeful and confident that it is completely possible for us to cover rural areas.” Dr Paul emphasised that gender balance in inoculation needs to be focused and said, “46 per cent of the people who received the vaccine yesterday were women and 53 per cent were men. We have to work on this imbalance, create awareness among women and bring them forward.”
India’s electric vehicle sales to grow at 26% in FY21-23: Fitch Solutions
In the overall Asia region, EV market will continue to grow at a fast pace as more countries look to support EV uptake, reduce emissions and attract EV related manufacturing investment.
New compensation offer made over Suez canal blockage
The Suez Canal Authority (SCA) demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue, before publicly lowering the request to $550 million.The Ever Given’s Japanese owners Shoei Kisen and its insurers have disputed the claim and the ship’s detention under an Egyptian court order.
Karnataka to set up system at dams to get real-time water data, to prevent floods
This system, once set up in Karnataka’s Almatti and Narayanpur dams, will help the officials of both the states overcome the possibility of floods. In case Maharashtra has to release water from its dams as a precautionary measure, it will inform the Karnataka officials who would accordingly lower their water level in Almatti and Narayanpur dams. This alleged lack of communication in 2019 had resulted into Maharashtra releasing lakhs of cusecs water into river beds that flooded the villages on the banks.
UK financial sector urges caution over any ‘work from home’ law
“This is going to evolve, clearly, and that’s why legislation would be inappropriate,” Bruce Carnegie-Brown, chairman of the Lloyd’s of London insurance market, told City & Financial’s City Week event.
“We have to allow different sectors of the economy to adapt in different ways to address this opportunity, frankly, for a more mixed economy of remote and physical work. The return to the office should be treated carefully so those working from home did not feel excluded.” Carnegie-Brown said
Italy’s Generali agrees to buy Axa’s insurance assets in Malaysia
Italy’s top insurer will buy the majority stakes that France’s Axa holds in two local joint-ventures with Malaysia’s Affin Bank, Generali said in a statement.The total consideration for the combined deals is around 262 million euros ($312 million), Generali said.
CFC Syndicate 1988 opens for trading
Unlike traditional syndicates, Syndicate 1988 will be futuristic – it will not have a box at Lloyd’s and through the application of technology will be operated with a lower level of resources than traditional syndicates. Matt Taylor, of CFC, is the Active Underwriter.
European Insurers’ Body warn about market access barriers in India, Argentina, Brazil, Indonesia and Canada
Removing these barriers is vital to reduce protection gaps and to avoid dangerous concentrations of risk in these jurisdictions. Furthermore, to avoid a build-up of climate-related risks in any one jurisdiction and to facilitate the sharing of natural catastrophe risk across (re)insurance markets, it is more important than ever that discriminatory barriers to trade and market access be removed.