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More than 15 lakh lives covered under exclusive Corona policies:IRDAI chief

“We will be happy if more emphasis will be given by insurers on how to deal with the current pandemic and post pandemic.We will be delighted if more proposals come to deal with present situation,” Subhash C Khuntia, Chairman, IRDA

MR Kumar, chairman, Life Insurance Corporation, emphasized to focus on IDEAS- Investment opportunity, Distribution of insurance products, Economics and efficiencies, Administration of business & focus on technology and Solvency and soundness of the industry.

No more extension for the renewals of motor policies:GI Council

All vehicle owners are advised to get their insurance policies renewed on or before the due date of renewal for continued validity of the insurance policies, said the GI Council on Thursday. .

MoRTH had issued a letter on 24th August 2020 advising State Governments that in case the validity of fitness certificates, permits, driving licences, and registration certificates pertaining to vehicles have expired on or after 1st February 2020 and not extended due to the lockdown, such certificates may be treated as valid until 31st Dec 2020.

Bajaj Allianz Life launches Smart Assist

Tarun Chugh, Managing Director and CEO of Bajaj Allianz Life said, “The business environment has changed significantly since the pandemic, and it is essential to respond to changing customers behaviors. We are focused on building agile business processes to meet the new needs, and Smart Assist is yet another step in that direction. The innovative tech-enabled service is designed to deliver superior service experience. We are confident it will play an essential role in keeping life goals of our customers on track, irrespective of the limitations due to the pandemic.”

Indian Vaccine trial: Vital signs of volunteers normal, says doctor

Two men, aged 32 and 48, were given the first shot of the ‘Covishield’ vaccine, being manufactured by Pune-based Serum Institute of India (SII), at Bharti Vidyapeeth’s Medical College and Hospital on Wednesday. The dose will be repeated after one month, an official said.

“Since yesterday, our medical team is in touch with the two volunteers and both are fine. They do not have any pain, fever, injection-side reaction or systemic illness post-vaccination,” the medical college and hospital’s deputy medical director Dr Jitendra Oswal said.

Hurricane Laura slams Louisiana, kills six, but less damage than forecast

Laura was downgraded to a tropical depression by the NHC at 10 p.m., and the forecaster said it will move to the mid-Mississippi Valley later on Friday and then to the mid-Atlantic states on Saturday.

Laura caused less mayhem than forecasts predicted – but officials said it remained a dangerous storm and that it would take days to assess the damage. At least 867,000 homes and businesses in Louisiana, Texas and Arkansas remained without power on Thursday afternoon.
“This was the most powerful storm to ever make landfall in Louisiana,” Governor John Bel Edwards told a news conference. “It’s continuing to cause damage and life-threatening conditions.”

Bajaj Allianz General Insurance launches retail comprehensive cover for pet dogs

The premium for this policy starts from Rs 315 (excluding GST) and varies based on the age, size, gender, covers opted for, plan opted for and sum insured selected. A discount of 5% on premium is provided in case of RFID tagging. Pet dogs are classified into either of Small, Medium, Large or Giant sizes based on the breed of the dog.  The product has two plans, which differ based on specific inclusions and exclusions in each.Medical tests for pet dog is not mandatory even at higher ages subject to waiting period for covering certain diseases.

India risks decade of stagnation in income, quality of life if GDP doesn’t grow over 8% annually I

On the reforms front, it advocated attention to manufacturing, real estate, agriculture, healthcare, and retail sectors, unlocking land which can reduce prices by up to a fourth, creating “flexible” labour markets, enabling efficient power distribution to reduce tariffs for consumers by over 20 per cent and privatizing 30 top state-run enterprises.

Global protection gap for mortality, health and natural cat reach a new high of $1.24 trillion:Swiss Re

Globally, mortality resilience declined the most, driven by a widening of the mortality protection gap in the Asia-Pacific region, where China’s protection gap expanded due to rapidly growing household debt

Health resilience was stable despite some deterioration in emerging markets. 

The global health protection gap widened by more than 5% to USD 588 billion.Natural catastrophe resilience was lowest of the three risk areas. Swiss Re Institute expects that health and mortality protection gaps will widen as households grapple with lower incomes, higher healthcare costs and the financial consequences of losing a breadwinner as a result of the pandemic.