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IRDA forms panel to examine relaunching of Index-linked products by life insurers

by | Sep 1, 2020 | , , ,

Currently, IRDAI, product regulations do not specifically permit insurers to sell index linked products and life insurers have been requesting the IRDAI to allow them to offer index linked products.

The working group will examine the need for index-linked products in India , availability of various indexes and how it will better serve the needs and interests of customers relative to traditional savings product.

Google, Apple roll out built-in COVID-19 exposure notifications to phones

by | Sep 1, 2020 | , , , ,

The new system – called Exposure Notifications Express – will allow public health officials to submit a small configuration file to Apple and Google. The two tech companies will then use the file to set up systems that phone owners can opt in to in order to determine whether they have been near someone who has tested positive for the novel coronavirus

Religare Health rebrands itself as Care Health Insurance,plans IPO

by | Sep 1, 2020 | ,

The rebranding is aimed at further building on opportunities to deliver the best possible ‘Care’ to its consumers.Officials of the company also said that they would be looking to go public going forward. However, no timeline was announced regarding the initial public offer (IPO). The institutional shareholders of the health insurer include Union Bank of India anf Kedaara Capital 

New mobility revolution:Japanese tech company test ‘Flying Cars’

by | Aug 31, 2020 | , , ,

The company, SkyDrive, said in a news release on Friday that it had completed a flight test using “the world’s first manned testing machine,” its SD-03 model, an electrical vertical takeoff and landing (eVTOL) vehicle. The flight time was four minutes, the company said.

The aircraft has one seat and operates with eight motors and two propellers on each corner. It lifted about 3 meters (or about 10 feet) into the air and was operated by a pilot, the company said.

Female fund managers beat men at stock picks: Goldman Sachs Group

by | Aug 31, 2020 | ,

Women are still a small minority in the industry. Only 3% of the mutual funds tracked by Goldman have an all-female fund manager team, collectively managing just 2% of total assets. In contrast, 77% are managed by an all-male team, with these funds accounting for 57% of assets.
Female-managed funds are benefiting from a preference for technology stocks, an industry that has dominated gains. Male managers lean toward financial shares, the second-worst performer in the S&P 500. Also helping widen the gap is Tesla Inc., which is more widely owned by female managers.

Mutated coronavirus strain found in Indonesia as cases jump: Report

by | Aug 31, 2020 | , , , ,

Syahrizal Syarif, an epidemiologist with the University of Indonesia, warned Indonesians must remain vigilant, as his modelling suggests the country may see its caseload rise to 500,000 by the end of the year.

“The situation is serious …. Local transmission currently is out of control,” Syarif said, adding that the number of infections found daily could have been much higher if laboratories were able to process more specimens in a day.

Uber Vows Better Disclosure of Safety Data on Self-Driving Cars

by | Aug 31, 2020 | , , ,

The National Transportation Safety Board voted in 2019 that the probable cause of the crash was “the failure of the vehicle operator to monitor the environment and the operation of the automated driving system because she was visually distracted throughout her trip by her personal cellphone.”

The board also cited three shortcomings by Uber: the company’s inadequate safety risk assessment procedures; ineffective oversight of vehicle operators; and lack of adequate mechanisms to address complacency by operators as the cars drove themselves.Voluntary Approach

Climate change bigger economic risk than Pandemic, ECB’s Schnabel says

by | Aug 31, 2020 | , , , , , ,

With climate change posing an even bigger risk, the ECB must keep this issue high on its agenda as it reviews its policy framework, Schnabel told Reuters in an interview.

“Climate change is probably the biggest challenge we are facing, much bigger than the pandemic,” Schnabel said.

“Even though this health shock was entirely unrelated to monetary policy, it nevertheless has huge implications for monetary policy,” she said. “The same is true for climate change and this is why central banks cannot ignore it.”

COVID-19 tally breaches 35-lakh mark,record single-day spike of 78,761 cases,4.14 crore tests conducted

by | Aug 30, 2020 | , , ,

With a record over 10.5 lakh tests conducted for detection of COVID-19 in a single day, the number of such tests performed in the country has crossed 4.14 crore, the Union health ministry said on Sunday.
Of the 948 fresh deaths, 328 are from Maharashtra, 115 from Karnataka, 87 from Tamil Nadu, 82 from Andhra Pradesh, 62 from Uttar Pradesh, 53 from West Bengal, 41 from Punjab, 22 from Madhya Pradesh, 16 from Jharkhand, 15 from Delhi, 14 from Odisha, 13 each from Gujarat and Rajasthan, 12 from Puducherry, 11 each from Chhattisgarh and Uttarakhand.

The health ministry stressed that more than 70 per cent of the deaths occurred due to comorbidities.