“Heavy rains in the Indian upstream region mean that the suffering...
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HDFC ERGO starts processing its health claims through National Health Claims Exchange (NHCX) platform
Developed by the National Health Authority (NHA), the NHCX platform...
Budget FY2024-25: Indian Insurance Industry’s Wish-list
The upcoming Budget 2024-25 is crucial for advancing insurance...
General Insurance industry likely to grow cautiously in FY2022; underwriting losses set to rise : ICRA
The private sector players had a higher growth trajectory in FY2019 and FY2020; and have gained market share from the PSU players. The private sector reported a 8% Y-o-Y increase in GDPI at Rs. 1.1 trillion in FY2021. Private sector players were able to adapt to the changing business dynamics in CY2020 at a faster pace compared to the PSU players. Private sector with a relative better risk framework was able to increase the market share in fire segment, and health segment. In addition, the private sector also has a higher share in crop insurance underwritten in FY2021.
Govt sets maximum price of vaccines for private hospitals: Covishield Rs 780 a dose, Covaxin Rs 1410
”The private hospitals may charge up to a maximum of Rupees 150 per dose as service charges. State governments may monitor the price being so charged,” the ministry said.
The ministry also requested states and union territories to regularly monitor the prices being charged by the private CVCs from the citizens.
Lamborghini launches Huracán EVO Rear-Wheel Drive Spyder in India at Rs 3.54 cr
On the significance of the model, Lamborghini India Head Sharad Agarwal said, ”India is one of the strategic markets for Lamborghini and we consistently invest to create unique bespoke experiences for our customers.” The Huracán EVO RWD Spyder has an aluminum and thermoplastic resin body that sits on a lightweight hybrid chassis in aluminum and carbon fiber. It has a dry weight of 1,509 kg, the company said.
Emerging risks set to shape a post-COVID-19 world:Swiss Re
COVID-19 to worsen income inequality; growth in the global middle class slowed and poverty levels rose in 2020
• Government support programmes have kept alive unviable zombie companies, leading to increased credit and financial market risks
• Electric vehicles and other decarbonised means of transport can
cut up to 24% of current C02 emissions from fuel combustion
Women falling behind in India’s COVID-19 vaccination drive
Health officials say rumours about vaccines disrupting women’s menstruation cycle and reducing fertility have also contributed to the skewed data. The government has rejected the concerns.
Free vaccine, foodgrains to cost govt up to Rs 1.45 lakh cr
Prime Minister Narendra Modi’s announcement of providing free inoculation to all adults will entail total spending of anywhere between Rs 45,000 crore and Rs 50,000 crore. This is higher than Rs 35,000 crore that the government had budgeted.Extending 5 kg of wheat or rice and 1 kg of pulses every month to nearly 80 crore beneficiaries till November will cost between Rs 1.1 lakh crore to Rs 1.3 lakh crore.
Global insurance industry faces IFRS 17 costs estimated at $15 to $20 bn:Willis Towers Watson
Kamran Foroughi, Global IFRS 17 Advisory Leader at Willis Towers Watson, said: “This is an extraordinary figure that will naturally lead to many questions from Boards and investors.
“For many, significant improvements will also be required in business processes and finance operations to deliver IFRS 17 efficiently and link with other metrics. With smart investment and the right people, an insurer’s IFRS 17 programme has the potential to help deliver long-term annual savings to show against the daunting up-front costs.”
Labour codes : Companies’ PF liability to go up, workers’ take-home pay to shrink
The labour ministry had envisaged implementing the four codes on industrial relations, wages, social security and occupational health safety & working conditions from April 1, 2021. These four labour codes will rationalise 44 central labour laws.
The ministry had even finalised the rules under the four codes. But these could not be implemented because many states were not in a position to notify rules under these codes in their jurisdiction.
Centre to provide free COVID vaccines to states for all above 18; Service charge for pvt hospitals capped at Rs 150/dose: PM
The change in the government’s vaccine strategy comes days after the Supreme Court asked the Centre to place on record all relevant documents and file notings reflecting its thinking culminating in the COVID-19 vaccination policy, and states questioning the central government over the alleged shortage of vaccines.
While India will have 53.6 crore doses between January and July, the availability of vaccines will increase to 133.6 crore doses between August and December with more firms supplying jabs and ramping up of production from the existing companies..
In another major announcement, the prime minister said a decision has been taken to extend Pradhan Mantri Garib Kalyan Anna Yojna till Deepawali.
This means that till November, 80 crore people will continue to get a decided amount of free foodgrain every month.
17 dead in fire at Pune chemical firm, rescuers search for missing staff
“The fire broke out during plastic packing, smoke was so much that female workers could not find an escape. We have recovered 17 charred bodies – 15 women and 2 men. Cooling and search operation is underway,” said Devendra Potphode, Chief Fire Officer, PMRDA Pune.