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SC asks Centre to consider enhancing compensation in hit-and-run accidents
The bench noted that in the last five years, there were 660 deaths...
Ahead of IPO, Medi Assist mobilises Rs 351 crore from anchor investors
Those who participated in the anchor bidding include Goldman Sachs,...
China’s Anbang Insurance Group to apply to disband, liquidate
After the Anbang take-over, China has tightened regulations on the country’s financial holdings companies to defuse risks accumulated by a group of non-financial firms that it says expanded blindly into the financial sector.
On Sunday, the People’s Bank of China (PBOC) issued related new rules, setting requirements on registered capital, total assets, and assets under management on eligible financial holdings firms.
Parliament passes bill to give statutory status to aviation regulators
The Bill also proposes to increase the fine amount for violations of new rules from Rs 10 lakh to Rs 1 crore.
Forecasts of heavy rains raise fear for summer crops in India
Spurred by monsoon rains, which deliver about 70% of India’s annual rainfall, farmers have planted a record acreage with summer crops such as rice, corn, cotton, soybeans and sugarcane.
But heavy rains could cause extensive damage later this month when the crops ripen.
Novavax aims for 2 billion COVID-19 vaccine doses with expanded India deal
Novavax’s vaccine is currently in mid-stage trials after an early-stage study showed it produced high levels of antibodies against the novel coronavirus. The company plans to begin late-stage trials in the third quarter.Last month, Novavax said it will supply 60 million doses of its coronavirus vaccine candidate to the UK beginning as early as the first quarter of 2021.
Civil aviation recovery to be faster due to market size: Airbus India Prez
“We haven’t reached the pre-Covid situation yet but we are improving. There are several segments that are offering good opportunities. Chartered flights too are offering great support,” IndiGo’s Chief Strategy and Revenue Officer Sanjay Kumar said.
Victory for UK firms in court battle over COVID-19 BI insurance claims
UK High Court rules in policyholders’ favour in landmark business insurance case
Some 370,000 firms which lost earnings as a result of lockdown could expect up to £1.2billion in damages
However, insurers are expected to appeal the decision – meaning firms will likely have to wait months before seeing any payout
Hannover Re anticipates significant price increases in property and casualty reinsurance
Hannover Re is looking ahead with optimism to the upcoming renewals as at 1 January 2021 and 1 April 2021 in the Asia-Pacific markets, even though price movements will likely vary from region to region depending on the burden of losses. The impacts of the Covid-19 pandemic must be kept in mind here as an element of uncertainty.
Hannover Re has launched a strategic initiative intended to maximise even more intensively the growth potential offered by its business in the APAC region.
Business in the area of structured reinsurance continues to develop in line with expectations in the current year. Going forward, too, Hannover Re expects to see further growth in demand for innovative and tailor-made reinsurance solutions.
Same sex marriages not recognised by our laws society and our values Centre to HC
The submission was made before a bench of Chief Justice D N Patel and Justice Prateek Jalan by Solicitor General (SG) Tushar Mehta during hearing of a PIL seeking a declaration that same sex marriages be recognised under the Hindu Marriage Act (HMA) and Special Marriage Act.
He said the plea to grant recognition to or permit registration of such marriages was “not permissible” for two reasons — firstly, the petition was asking the court to legislate and secondly, any relief granted “would run contrary to various statutory provisions”.
Slovenian woman sentenced for cutting off her hand for insurance payout
Prosecutors said that days before the incident, Adlesic’s partner searched for information on the internet about how artificial hands work. They claimed that this was another proof that it was done deliberately.During the trial, the woman claimed innocence, saying she would never have cut off her hand deliberately.
End of combustion engine moves closer with EU climate plan
Under a new climate target for 2030, European automakers would need to embrace tougher pollution standards, with new rules that could retire combustion engines to science museums. Energy will grow increasingly cleaner, with an additional 350 billion euros ($415 billion) per year required for investment in production and infrastructure. And to help cut greenhouse gases in agriculture, Europeans would be encouraged to eat less meat.