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NCLT approves Hinduja Group firm IndusInd International Holdings’ resolution plan for Reliance Capital
However, no final decision on the matter can be taken by the...
Houthi attacks has led to an “environmental disaster” in the Red Sea, US says
The Houthi assaults have continued despite waves of airstrikes by...
HDFC Life & HDFC Ergo launch a combi protection plan with term & COVID-19 health cover in a single policy.
HDFC Life’s C2P3D Plus is one of the most flexible and customizable term plans in the market. HDFC Ergo’s Corona Kavach is an indemnity health policy that was launched earlier this year to offer cover against medical expenses incurred due to hospitalization of individuals seeking treatment for COVID-19, on a positive diagnosis for the virus, in a government authorized diagnostic centre
As India readies vaccine strategy, Modi warns of possible side-effects
The question of who pays any claims for damages for unexpected side-effects has been a tricky point in supply negotiations between countries and drug makers over potential vaccines. Some richer countries have agreed full or partial exemptions from liability for firms to secure shots.
Indian general insurance industry plunges into losses of Rs 1402 crore in 2019-20, sees higher FDI inflow
The total underwriting losses of the industry have surged by 4.4 per cent year on year(y-o-y) to Rs 22,859 crore in 2019-20. .
Shriram General Insurance, at 91 per cent and SBI General Insurance(93.5 percent) have earned the distinction of having very low combined ratio in the industry and are a very few companies which have seen underwriting profits in FY 2020-21.
UK FM says he hopes for a Brexit deal but not at any price
“If we don’t get a deal, why is that? It is because they are refusing to compromise on what are some completely reasonable and very transparent principles that we’ve laid out from the beginning. We are not asking for … super-special treatment.”
Howden acquiers cyber and tech specialist broker Safeonline
“Cyber as a class has been growing strongly for us over recent years and this acquisition supercharges our growth in this important market, In a stroke, it gives us the ability to service retail SME clients and enlarge our U.S. wholesale cyber book. It also means we can improve our service to large global retail accounts and grow further our Financial Lines retail capability.commented Charlie Langdale, managing director, Financial Lines.
Hamilton sets up a new Bermuda special purpose insurer ‘Ada Re’
“Ada Re will give investors immediate access to the improving pricing, terms and conditions, and expected returns in the retro market. The establishment of Ada Re is indicative of our ability to quickly capitalize on dynamic reinsurance market conditions for the benefit of third-party capital investors,” Tony Ursano, group CFO and head of Strategic Partnerships at Hamilton.
Giant wind turbine collapses in northern Sweden; no one hurt
Maria Roske, chief executive of windmill operator WPD, told the local Norran newspaper that there were no construction workers on site when the incident happened.
She added that she believed it was the first time such an incident took place in Sweden.Roske told Norran that Vestas will investigate the collapse because the group built the wind turbine. with Vestas, which is the manufacturer. It”s their power plant, their turbine.”
Lloyd’s first Digital Syndicate Ki goes live, announces list of broker trading partners
The creation of Ki was first announced in May 2020. Ki aims to significantly reduce the amount of time taken for brokers to place their follow capacity.
Ki’s algorithm, developed with support from University College London, will evaluate Lloyd’s policies and automatically quote for business through an always available digital platform, built by Google Cloud and accessed directly by brokers.
Google faces regulatory scrutiny in Britain over ‘Privacy Sandbox’ advertising data revamp
The complaint follows up on concerns about Google’s new system that the watchdog raised in a July report about online platforms and digital advertising. The report recommended the British government adopt a new regulatory approach to governing digital giants making big money from online ads.
Google said the new technology will increase privacy for users while also supporting publishers.
Meanwhile,Russia has opened a case against U.S. tech giant Google for failing to remove banned content from its search engine, communications watchdog Roskomnadzor said on Monday.
COVID-19 caseload in India breaches 91-lakh mark
The national recovery rate was recorded 93.68per cent,while the COVID-19 case fatality rate stands at 1.46 per cent