In South Asia, Bangladesh is the most prone to the risk of...
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India providing security escort for container ships around Red Sea
Containers could face delays of 14 days in their turnaround time...
619 cases of Covid sub-variant JN.1 reported from 12 states till Jan 4
They said 199 cases have been reported from Karnataka, 148 from...
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,
ICICI Bank uses space images for farm loans to cut costs
BENGALURU: India’s ICICI Bank Ltd has begun using satellite images of farmland to help assess farmers’ credit-worthiness, a move the bank says is helping cut travel costs and make faster lending decisions in a world hit by the COVID-19 pandemic. The...
9 evacuated after fire at govt hospital in Jamnagar; no injuries
“All the nine patients in the ICU were rescued in time and shifted to other wards. Three of them were on ventilator while six were on oxygen support,” said Dr Deepak Tiwari ,Medical Superintendent of the hospital .
EU needs more proactive climate change adaptation plans – insurers
Industry trade body Insurance Europe said the EU strategy needs to shift to more preventative behaviour,said Industry trade body Insurance Europe.
Alphabet’s Verily targets employer health insurance with Swiss Re partnership
Alphabet Inc’s life sciences division Verily’s new subsidiary, Coefficient Insurance Company, will be backed by the commercial insurance arm of Swiss Re, which is also making a minority investment in the new company.
“Coefficient is aimed at reducing blind spots and providing greater cost control mechanisms for self-funded employers,” Verily Chief Executive Officer Andy Conrad said in a statement.
Self-insurance arrangements are increasingly commonplace among larger employers, who typically pay health insurers to manage their healthcare benefits, but cover the costs of those claims themselves.
Rs 14.58 lakh compensation to kin of woman killed in accident
The deceased was at that time self-employed and earned Rs 12,000 per month, the applicants said, adding that they were dependent on her for their livelihood and hence, were seeking compensation.
The tribual in its order said the accident took place solely because of the rash and negligent driving on part of the tempo driver.
The tempo’s insurer, Reliance General Insurance Company Ltd, contested the claim, but the tribunal rejected its arguments.
Validity of motor vehicle documents extended till Dec 30
On March 30, the ministry had announced the extension of the validity of fitness, permit (all types), driving license, registration or any other concerned document till June 30.
Later on June 9, the validity of motor vehicle documents was further extended till September 30 due to the pandemic.
Hedge Fund collects $3 billion as wildfire insurance claims
The payout yielded Baupost’s biggest profit generator last month and represented a sizable markup from what the firm had anticipated, it told investors Thursday. The fund bought $6.8 billion of subrogation claims against PG&E.
In a subrogation claim, an insurer sells the right to sue to recoup damages suffered by policyholders. Insurers offer the claims at a discount to investors in return for the certainty of being paid upfront.
Iran says black boxes from downed Ukraine jet show missiles hit 25 seconds apart
Iran’s investigation is being carried out under United Nations aviation rules calling for probes aimed solely at preventing future accidents, separately from any judicial process. But the probe has been swept up in regional and domestic tensions.
17th SIRC postponed to Nov, 2021
To fill the void this November, the Organising Committee is planning a virtual event – tentatively coined ‘SIRC 2020 Re-Mind’ – to mark the dates More details of this virtual event will be announced in mid-October.
All important international events like Monte Carlo Rendezvous,during second week of Sept,Baden-Baden Reinsurance Meet,during 4th week of Oct and East Asian Insurance Congress(EAIC), scheduled during last week of Aug, have been cancelled this year due to Covid-19 pandemic.