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Automobile retail sales soar to record high in festive season this year: FADA
''Record-breaking sales were reported in several categories, with...
Sitharaman to address global reinsurance meet in Mumbai on Thursday, to promote India as a global reinsurance hub
The power packed event will be addressed by Vivek Joshi, secretary,...
Self-driving sector contends its cars can prevent many more crashes than insurance study says
Jack Weast, vice president of autonomous vehicle standards at Intel Corp’s Mobileye, in an interview on Friday said the auto industry was assembling a vast list of likely road scenarios and human behavior that every driverless car should be able to navigate safely. Government agencies and insurance companies are part of that process, Weast said.
IOC seeks insurance compensation for delayed Tokyo Olympics
An “open discussion” is under way with insurance brokers, the IOC’s Olympic Games operations director Pierre Ducrey said Thursday. The aim is “to try and find the right level of compensation to help us bear the cost of having to wait another year,” Ducrey said.
The IOC pays for insurance against the cancellation of an Olympics but it has been unclear if its policy covers the one-year postponement forced by the coronavirus pandemic.
Ocean shipping shrinks as pandemic pummels retailers
Many are also cutting down the number of voyages and providing short-term storage for clients as the industry, which includes heavyweights like Maersk, MSC and Hapag-Lloyd, faces its biggest downturn since the 2008 financial crisis.
Endeavour to cut accidents, deaths on roads by 25% by March next year: Gadkari
The Ministry of Road Transport and Highways has identified over 5,000 black spots, and the process for their rectification including temporary and permanent measures is being carried out on urgent basis, he said.
Standard Operating Procedures (SOPs) regarding procedure for rectification of black spots for taking up short-term and long-term permanent measures have already been issued, as per the ministry and till date, temporary measures on 1,739 newly identified black spots and permanent measures on 840 newly identified black spots have already been taken.
Govt issues draft rules for manufacturing, using drones
“No UAS shall operate in India unless there is in existence a valid third party insurance policy to cover the liability that may arise on account of a mishap involving such UAS,” the draft rules added.
Tata AIG offers telematics-based motor insurance tracking app
Available on all policies offering personal accidental cover to the tune of Rs. 15 lakhs for owner and driver, this app also tracks distance traveled by the vehicle, live speed and other driving pattern parameters and offers bonus kilometers for good driving behavior at the time of the renewal, thus, promoting safe driving habits.
UK offers 10 billion pounds in guarantees for trade credit insurance
Several countries including France, Germany and the Netherlands have introduced similar schemes, and Britain has also expanded its export credit guarantee scheme, which typically supports trade in developing markets, to cover developed markets.
COVID-19 Pandemic: Emerging risks and trends
•Intergenerational tensions, supply chain disruptions and the fragility of public healthcare are among the risks and trends amplified by the COVID-19 pandemic, 2020,
•The coronavirus outbreak showed that societies weren’t sufficiently prepared, and that broad risk awareness is crucial for proper risk management;,
•The current crisis shouldn’t overshadow the need for the world to transition to a more sustainable economy and a low-carbon future, and the insurance industry can play a pivotal role in this
Self-driving cars could only prevent a third of U.S. crashes – study
Companies developing self-driving vehicles, including traditional automakers and technology companies, have repeatedly positioned fully automated driving as a tool to drastically reduce road deaths by taking the human driver out of the equation.But the IIHS study outlined a more nuanced picture of human driver error, showing that not all mistakes can be eliminated by camera, radar and other sensor-based driverless technology.
IRDA asks general and health insurers to launch exclusive Covid-19 cover by June 15
Room Rent, Boarding, Nursing Expenses all inclusive as provided by the Hospital / Nursing Home up to 2% of the sum insured subject to maximum of Rs.5000/- per day.
•.Intensive Care Unit (ICU) charges/ Intensive Cardiac Care Unit (ICCU) charges all inclusive as provided by the Hospital / Nursing Home up to 5% of the sum insured subject to maximum of Rs.10,000/-, per day
• Ambulance: Rs 2000/- per Hospitalization.