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Addressing ethical challenges of AI, making social media accountable on fake news: Ashwini Vaishnaw
Addressing the Parliament, Union Minister of Electronics and...
China targets Nvidia with antitrust probe, escalates US chip tensions
The statement from the State Administration for Market Regulation...
More S.African insurers yield to customer demands to pay COVID BI claims
The FSCA and the Prudential Authority, which oversees the strength of the financial-services industry, last week struck a deal with insurers to consider once-off payments to help keep customers afloat, while courts decide whether insurers are correctly interpreting the terms of contracts.
Germany prepares “action plan” to reform banks, insurers and payment companies post Wirecard scandal
Financial watchdog BaFin, which reports to Scholz’s ministry, was sued by Wirecard investors who say the regulator turned a blind eye to widespread evidence of an accounting scandal.
Govt amends certain Indian Accounting Standards amid Covid-19 pandemic
Leading consultancy EY India’s Partner and National Leader (Financial Accounting Advisory Services) Sandip Khetan said the amendment was keenly awaited by Indian companies who were gearing up for their quarterly results.
After US directive,DGCA tells airlines to inspect Boeing B737s in fleet
The US aviation regulator Federal Aviation Administration asked the airlines to inspect their B737 aircraft that had not flown for seven days or more and the ones that had operated not more than 10 flights after return to service.
A senior DGCA official said the Indian regulator had asked Indian carriers SpiceJet, Vistara and Air India Express to inspect their B737 aircraft as directed by the FAA.
The emergency directive was “prompted by four single-engine shutdowns” that happened due to compromised air check valves in the engines of the certain B737 aircraft, said the FAA in its emergency directive.
Insurers should pay UK businesses over ‘cataclysmic’ pandemic, court hears
A ruling against the insurers could mean tens of millions of dollars in additional claims, hitting a sector that is already facing its biggest test to date. Lloyd’s of London, the world’s largest insurance exchange, estimated the global pandemic could cost insurers more than $200 billion.
China raises equity investment cap for insurers to 45%
Ensure ban on petcoke,furnace oil; use cleaner fuels,NGT directs CPCB
The tribunal was hearing pleas filed by Sumit Kumar and Amarjeet Kumar seeking a ban on the use of all forms of petcoke, as it emits fine particulate matter (PM) which is harmful to human health.
According to the plea, the objection to the use of petcoke and furnace oil, which has already been banned in certain states, is causing of huge emission of sulphur dioxide and other pollutants.
China takes over companies linked to disappeared financier
Among the companies being taken over are Huaxia Life Insurance Co., Tianan Life Insurance Co., Tianan Property Insurance Co., New Times Trust Co., Yi’An Property Insurance Co., and New China Trust Co., the China Banking and Insurance Regulatory Commission said in a statement on its website Friday.
Russia requires firms to develop financial/insurance contingency plans for oil spills
The law makes it mandatory for companies to have sufficient financial reserves to prevent potential spills or clean them up if they occur. The financial reserves can take various forms, including an insurance contract or a letter of guarantee to pay the damage from a given accident.The law also requires companies handling hydrocarbons to draw up plans to prevent and clean up spills by Jan.1, 2024.
Network Hospitals have to provide cashless facility to policyholders:IRDAI
,it is clarified that the policyholders are entitled to cashless facility at all such network providers (hospital) with whom the Insurance company/TPA has entered into an agreement in accordance to the norms of SLA.
In the event of denial of cashless facility at any such enlisted network providers (hospitals) the aggrieved policyholders may send a complaint to the concerned insurance company.