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TATA AIG General launches India’s first satellite in-orbit 3rd-party liability policy
The Indian space industry is experiencing phenomenal growth, with a...
ADB’s $1.70 mn study to develop multi-hazard early warning system for glacial lake outburst floods(GLOFs) in Himalayan region
Pushpendra Johari, senior vice president, sustainability,...
Swiss Re launches Elevate to improve the insurance experience for the middle market
“Customers and trading partners want a simple, reliable insurance experience. We designed Elevate to address their needs and provide a better way of protecting businesses in the middle market,” said Walt Sykes, Head Middle Corporate Business NA, Swiss Re Corporate Solutions.
Vehicle scrapping policy will be ‘win-win’ policy; to help reduce pollution: Nitin Gadkari
Making a statement regarding vehicle scrapping policy in the Lok Sabha, the Road Transport, Highways and MSMEs Minister said the policy will also lead to an increase in the country’s automobile industry turnover to Rs 10 lakh crore from the current Rs 4.5 lakh crore.
Hospitalisation due to any adverse reactions to Covid-19 vaccination covered under health policies:IRDAI
“There have been reports raising doubts whether any adverse reactions to Covid-19 vaccination that require hospitalization will be covered by the health insurance policies.It is clarified that in the unlikely event of hospitalization following adverse reaction to covid-19 vaccination, hospitalization is covered under the health insurance policies subject to the specific terms and conditions of the policy.” said IRDA in a press release.
Rajya Sabha passes bill to raise FDI in insurance to 74%
“Majority of directors in the board and key management persons to be resident Indians which means every law of the land will be applicable on them. And a specific percentage of the profits is to be retained as general reserves. It cannot be (taken away),” Sitharaman said
India received FDI worth Rs 26,000 crore in the insurance sector after 2015 when the foreign investment limit was raised to 49 per cent from 24 per cent.
Nearly 40k coronavirus cases in India: Govt
The daily rise in infections (39,726) was the highest recorded in 110 days, while the death toll increased to 1,59,370 with 154 daily new fatalities, the data updated at 8 am showed.
India reports 35,871 new COVID-19 cases in last 24 hours
Total infections have now risen to 11.47 million, the highest after the United States and Brazil. Deaths rose by 172 to 159,216, data from the health ministry showed.
Climate-change linked downgrades could cost countries $270 billion-a-year
The estimates comes amid warnings by policy makers from around the world that financial markets are underpricing the risk of climate change on asset prices, with potentially costly future corrections.
EU regulator: Astra jab benefits outweigh risks
The European Medicines Agency (EMA) said it was investigating reports of 30 cases of unusual blood disorders out of 5 million recipients of the AstraZeneca vaccine. In total, 45 million Covid shots have been delivered across the region.
The EU regulator will release its findings on Thursday but its head, Emer Cooke, said she saw no reason to change its recommendation of AstraZeneca — one of four vaccines that it has approved for use.
Magma Fincorp to sell stake in insurance venture Magma HDI in Rs 525-cr deal
Following the latest Rs 525 crore-transaction, the Poonawalla Group will become the main promoter with around 30 per cent direct and indirect stake in Magma HDI while HDI will be the single largest shareholder with 17.1 per cent stake. HDI’s remaining stake will be offloaded through a secondary sale.
ICICI Venture will become the third largest shareholder with 16.7 per cent in Magma HDI.
Airlines face headache over ‘use-by’ date on some jet parts as pandemic grounds fleets
In the highly regulated world of airplane maintenance, the frequency of many tasks is determined by the number of take-offs and landings or flight hours. But others, such as life vests and portable oxygen bottles, have a fixed schedule for replacement.