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Shipping: Losses hit all-time low despite increasing risks for the sector: Allianz Report
The number of shipping incidents reported globally declined...
Who undertakes film certification for OTT, social media platforms: HC asks Centre
The court has asked the Centre and Central Board of Film...
Mobile app-based payments rise 163% to $287 billion in 2019: Report
The report said UPI processed nearly 11 billion transactions in 2019 and based on a monthly rate of USD 31 billion in February, UPI payments are already clocking more than USD 373 billion in annualised payment value in 2020.
It added that Google Pay and PhonePe-led UPI payment apps handled over 7 billion transactions in total, representing more than two-thirds of UPI transactions in 2019.
HDFC ERGO launches first-ever on-demand ‘Pay As You Fly’ insurance for drones
“Today, drones are becoming more and more popular in events and other outdoor commercial activities, which require skilled professionals to operate them. But, mistakes in operating and equipment failure may cause damage to third parties. Considering this we are launching this cover under our aviation insurance, which is a first in the industry, to safeguard drone owners and pilots from any third-party liability while flying a drone commercially.”Ritesh Kumar, MD & CEO, HDFC ERGO General Insurance Company
U.S. insurers use lofty estimates to beat back coronavirus claims
The industry has warned it could cost them $255 billion to $431 billion a month if they are required, as some states are proposing, to compensate firms for income lost and expenses owed due to virus-led shutdowns, an amount it says would make insurers insolvent.
IRDA asks insurers to allow telemedicine facilities for their policyholders
Provision of allowing telemedicine will be part of claim settlement of policy of the insurers and need not be filed separately with the IRDAI for any modification. However, the norms of sub limits, monthly/ annual limits etc. of the product shall apply without any relaxation, said IRDAI .
Aon’s partners with GK8 for providing insurable digital-asset storage tech
“We have worked hard to demonstrate the validity of GK8’s solution to insurers so that the company’s clients can benefit from pre-negotiated insurance coverage to protect the digital assets in their care, custody, or control,” says Tom Davis, Client Director of Aon UK Ltd.
ICICI Lombard launches Rs 5 lakh domestic multi-trip cover for an anuual premium of Rs 499
For domestic travelers who may be worried about stepping out during the COVID-19 pandemic, this unique, all-in-one insurance product offers a comprehensive bouquet of benefits that cover losses arising from trip cancellations, home burglary while travelling, missed connecting flights, lost baggage and more
Eelectric Cars:Emerging risks and claims scenarios for manufacturers,suppliers and insurers
“From supply chain networks to production processes to the product itself – the automotive industry will have to respond to many emerging risks to make the transition to electric vehicles happen,” says Daphne Ricken, Senior Underwriter Liability at AGCS. “The anticipated growth of electric cars brings the prospect of new defect or performance issues; more expensive repair costs; new fire and cyber threats; and even reputational issues around sustainable sourcing and disposal of critical components and raw materials for batteries.”
IBM gets out of facial recognition business
The company will stop offering facial recognition software and oppose any use of such technology for purposes of mass surveillance and racial profiling, Krishna said.
Israeli tech firm to sell $32.4 million in medical watches in India
The company said the agreement is for 150,000 watches – which can monitor vital signs like temperature, blood pressure and blood oxygen saturation – to be used in hospitals, home hospitalizations and patient monitoring.
Singapore plans wearable virus-tracing device for all
Singapore will soon roll out the device, which does not depend on a smartphone, and “may then distribute it to everyone in Singapore,” Vivian Balakrishnan, the minister in charge of the city-state’s smart nation initiative, said on Friday.