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General insurance industry’s premium rises 15% to Rs 25k in Dec 2023
In a move that supported the growth of the industry, New India...
APAC sovereigns exposed to flooding risks, have limited capacity to adapt: Fitch
In South Asia, Bangladesh is the most prone to the risk of...
IRDAI asks applications for the 2nd cohort of the Regulatory Sandbox
The window for filing of applications shall open on 15thSeptember, 2020 and close on 14th October, 2020.
The IRDAI has created a Regulatory Sandbox whose objective is to use innovative ideas to foster growth and increase the pace of most innovative companies, in a way that provides flexibility in dealing with regulatory requirements and at the same time focussing on policyholder protection.
No more extension for the renewals of motor policies:GI Council
All vehicle owners are advised to get their insurance policies renewed on or before the due date of renewal for continued validity of the insurance policies, said the GI Council on Thursday. .
MoRTH had issued a letter on 24th August 2020 advising State Governments that in case the validity of fitness certificates, permits, driving licences, and registration certificates pertaining to vehicles have expired on or after 1st February 2020 and not extended due to the lockdown, such certificates may be treated as valid until 31st Dec 2020.
Assam Cabinet approves Rs 50-lakh insurance cover for journalists, home guards succumbing to COVID-19
The cabinet also decided to increase the upper age limit for state government jobs for Group-III and Group-IV by two years to 40 years.
COVID-19 deaths to cross 317,000 in U.S. by December 1
At least 179,725 Americans have died from the respiratory disease, while reported U.S. infections have breached 5.8 million cases, according to a tally by Reuters.
Hurricane Laura slams Louisiana, kills six, but less damage than forecast
Laura was downgraded to a tropical depression by the NHC at 10 p.m., and the forecaster said it will move to the mid-Mississippi Valley later on Friday and then to the mid-Atlantic states on Saturday.
Laura caused less mayhem than forecasts predicted – but officials said it remained a dangerous storm and that it would take days to assess the damage. At least 867,000 homes and businesses in Louisiana, Texas and Arkansas remained without power on Thursday afternoon.
“This was the most powerful storm to ever make landfall in Louisiana,” Governor John Bel Edwards told a news conference. “It’s continuing to cause damage and life-threatening conditions.”
Bajaj Allianz General Insurance launches retail comprehensive cover for pet dogs
The premium for this policy starts from Rs 315 (excluding GST) and varies based on the age, size, gender, covers opted for, plan opted for and sum insured selected. A discount of 5% on premium is provided in case of RFID tagging. Pet dogs are classified into either of Small, Medium, Large or Giant sizes based on the breed of the dog. The product has two plans, which differ based on specific inclusions and exclusions in each.Medical tests for pet dog is not mandatory even at higher ages subject to waiting period for covering certain diseases.
Global protection gap for mortality, health and natural cat reach a new high of $1.24 trillion:Swiss Re
Globally, mortality resilience declined the most, driven by a widening of the mortality protection gap in the Asia-Pacific region, where China’s protection gap expanded due to rapidly growing household debt
Health resilience was stable despite some deterioration in emerging markets.
The global health protection gap widened by more than 5% to USD 588 billion.Natural catastrophe resilience was lowest of the three risk areas. Swiss Re Institute expects that health and mortality protection gaps will widen as households grapple with lower incomes, higher healthcare costs and the financial consequences of losing a breadwinner as a result of the pandemic.
PUC certificate not necessary to settle motor claims:IRDAI
The IRDAI had issued a circular on 6th July, 2018 conveying the directive of Supreme Court in M.C. Mehta Vs Union of India to all general Insurance companies to ensure that the vehicle must have a valid PUC certificate at the time of renewal of motor vehicle insurance. This has been reiterated through another circular on 20th August, 2020.
Max Bupa expects 30-35% growth in current fiscal, says MD&CEO Ramachandran
As the pressure on health services rises, the insurer is likely to see an increase in telehealth services demand wherein consultancy to patients can be given via phone or through video services. This could have constructive long-term effects, helping healthcare reach more remote and less affluent populations including the under or uninsured said the official.
Change of over 100,000 crew members facilitated at ports:Shipping Ministry
Despite the maritime sector being one of the worst hit by the coronavirus pandemic, the statement said that all the Indian ports were operational and were providing essential services throughout the pandemic. They stood as main pillars ensuring smooth supply chain for India and the world,the Ministry of Shipping said in a statement,