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Automobile retail sales see 9 pc growth in August: FADA
The total retail sales across segments rose to 18,18,647 units last...
Precarious employment conditions may increase risk of early death: Study
“This is the first study to show that changing from precarious...
Ex-AIG employees, seeking back-bonuses of $100M, win British court ruling
Judge Andrew Baker ruled Tuesday that the insurer can’t assert that its AIG Financial Products unit would have rather gone bankrupt than pay the bonuses to the 23 ex-employees. An earlier ruling said the unit improperly withheld the payments, and the insurer wanted to make the case for bankruptcy in a new trial deciding the damages.
Discovery of new risk with Boeing 737 to prolong grounding
The risk was discovered during a simulator test last week and it is not yet clear if the issue can be addressed with a software upgrade or will require a more complex hardware fix, sources with knowledge of the matter told Reuters.
US-bound Air India plane gets bomb threat, escorted to UK by fighter jets
“An Air India Boeing 777 diverted into London Stansted Airport at approximately 1015 and landed safely with Essex Police in attendance. It is parked on an isolated stand away from the normal airport operations,” the airport said.
Lloyd’s underwriters team up to “insure the uninsurable” with a £53m capacity
The market-led solution, led by senior underwriters from Tokio Marine Kiln, Beazley, MS Amlin, Talbot, Liberty Specialty Markets, Hiscox, Ascot, Chubb, Chaucer, Brit, Antares and Apollo will trial new types of insurance for complex and non-standard risks, including, but not limited to, intangible assets and supply chain risks, or mishaps caused by artificial intelligence.
Rivals ride rising rates as Lloyd’s abandons some ship insurance
Premiums for marine insurance, which until 2018 had fallen for years due to rising competition and lower claims, are increasing after a surge in catastrophe losses in the past two years and growing geopolitical tensions..
Insurance Australia Group in talks over SBIG stake sale
IAG’s stake in SBIG was worth about 30 billion rupees ($433.2 million), valuing the entire firm at about $1.73 billion.
Govt approves Motor Bill; steep penalties for traffic offences proposed
As per the Bill, driving without insurance will be punishable with Rs 2,000 fine, while driving without helmets will attract Rs 1,000 fine and 3-month suspension of licence. As per the new provisions “guardian/owner shall be deemed to be guilty and there will be a penalty of Rs 25,000 with three years imprisonment and cancellation of registration of the Motor Vehicle”.
Trump moves to force hospitals, insurers to disclose Prices
The Trump administration has advocated for bringing down health-care costs by making prices more visible, boosting competition and reducing regulation. The approach contrasts with proposals from many Democratic presidential candidates to expand Medicare, the government health-insurance program for older Americans, to the broader population.
Universal smart card driving license on the anvil
This ministry through its flagship application called SARATHI (for driving licence) developed by NIC (National Informatics Centre) have a common countrywide database of all driving licence holders.
Govt mulls various options for consolidation of PSU general insurers
New Delhi: The government is exploring various consolidation options including merger of state-owned general insurance companies with New India Assurance with a view to create synergy and unlock value. The Department of Investment and Public Asset...