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PSU insurers’ shares see sudden spurt on Friday
After lying low in recent years, on Friday GIC Re's share price has...
Customer data with account aggregators completely safe in India: Sitharaman
“There is a need for insurance companies to become a lot more...
Insurers stare at a Rs 2000 crore hit from “Amphan” devastated WB and Orissa
Till Saturday, the general insurance industry had already received claims worth of Rs 945 crore from these two states with more than 90 per cent of the total claims originating from the economically developed WB, with higher insurable industral areas, where torrential rains coupled with strong winds caused severe flooding and wind related damages especially in the Kolkata metro region, resulting in inundation and damage of both public and private infrastructure.
Around Rs 836 crore of claims have been triggered by the property damages under fire policies from the WB and rest are from motor and other policies.
Crashed Pakistan A320 jet insured for $19.7 million: airline document
The Pakistan International Airlines (PIA) Airbus SE A320 jet that crashed into a crowded residential district of Karachi last week killing 97 people on board was insured for $19.7 million,The family of each victim is being provided Rs1m for making arrangements for burial. In addition, the legal heirs of those who died in the crash would get Rs5m each.
AXA agrees to pay Covid-19 Business Interruption claims to French restaurants after court ruling
Stephane Manigold, the owner of four Paris restaurants who brought the case against the French insurer, told Reuters that since the court decision his team had received calls from Britain, South Africa, Spain and the United States asking for details of his contract and the court’s ruling.“This decision in Paris has a global resonance,” he said.
Pakistan Jet crashed shortly after bizarre landing attempt at 327 KPH
It’s not yet clear why the two jet engines quit after functioning well enough for about two minutes to lift them about 3,000 feet (915 meters) above the runway. Engines have become so reliable that losing two at the same time is almost always because of some common factor, such as damage from hitting a runway or a problem with the fuel supply.
Lloyd’s of London considers part-virtual underwriting room
Underwriters and brokers say the market, which employs nearly 50,000 people, has run smoothly with greater use of existing electronic systems and they are in no hurry to return to the office.
Delhi-Moscow AI flight returns midway after pilot found COVID-19 positive
According to standard operating procedure, pilots and other crew members of any flight are required to undergo mandatory testing for coronavirus and are assigned duties if the laboratory results are negative.
The Director General of Civil Aviation has already begun an investigation into the case based on a preliminary report by Air India, the officials said.
Trump signs executive order aimed at regulating social media companies
Trump’s actions seek to blunt Section 230 of the Communications Decency Act which immunises websites from legal liability for the comments of their users. According to the President, Twitter’s fact checks amount to political activism and social media companies should not be shielded from lawsuits for what is posted on their platforms.
Calm before the storm for Japan suicides as coronavirus ravages economy
Kyoto University’s Resilience Research Unit has predicted 2,400 more suicides for each 1% rise in unemployment. If the virus subsides in a year, unemployment could peak at around 6% by March, lifting annual suicides to around 34,000, it estimated. If pandemic conditions persist for two years, a rise to 8% unemployment by March 2022 would see suicides spike over 39,000
Inside a COVID-19 hospital in India, doctors see no end in sight
NEW DELHI: It was barely noon on Thursday when the metal doors of the mortuary at a hospital in south New Delhi swung open and staff in white coveralls rolled out a stretcher. Mourning relatives looked on, as a body bag was loaded into an ambulance and taken away to a...
Trump executive order to reduce liability shield for social media giants
The companies’ protections against lawsuits apply when they act “in good faith” in taking down or limiting the visibility of inappropriate tweets, videos and other social media posts, but the law doesn’t define bad faith. The draft order would push the Federal Communications Commission to issue rules clarifying the issue, potentially allowing users to sue over takedowns if they were inconsistent with companies’ terms of service, did not provide enough notice or meet other suggested criteria.