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72 dead in Bengal, have never seen such devastation: Mamata appeals to PM

by | May 21, 2020 | , , , ,

The chief minister also announced a compensation of Rs 2 lakh to Rs 2.5 lakh for the family members of each of the deceased.

“So far as per the reports we have received, 72 people have died in the state due to Cyclone Amphan. Two districts North and South 24 Parganas are completely devastated. We have to rebuild those districts from scratch. I would urge the Central government to extend all help to the state,” West Bengal Chief Minister Mamata Banerjee said after conducting a review meeting with officials.

Not expecting significant growth for insurance industry this year due to coronavirus impact: Bajaj Life Insurance

by | May 21, 2020 | ,

“Virtualisation will be very critical, customers are already doing a lot of things on a virtual basis. And they will prefer those brands and distributors who are willing to work virtually and be able to provide solutions virtually. So that being the end point, we are basically therefore re-learning, re-training ourselves as we go forward,” Chugh said.

Corporate revenues drop over 25% during lockdown; normalcy may take over 1 year to return: Survey

by | May 21, 2020 | , , ,

Nearly 67 percent of top bosses, business owners and founders surveyed said that company revenues have already declined by more than 25 percent during the lockdown.

Further, all respondents believe that business will return to normal only by 2021, while 22 percent business leaders expect it to take more than a year, from when the lockdown ends.

IRDA to revamp Trade Credit Insurance regulations,to make it more MSME friendly

by | May 21, 2020 | , , , ,

In the Indian context, the present guidelines on TCI, issued in 2016, do not allow the insurance companies to offer full fledge benefits that provides much needed protection to suppliers and restricts TCI covers to banks and financial institutions.

With the Govt. of India’s initiative to improve businesses for the MSMEs, which are considered as the backbone of the national economic structure, it is also imperative to relax the trade credit insurance guidelines to support the business environment.

Decide corruption cases in time involving retiring bank, govt officials: CVC

by | May 20, 2020 | , , , ,

“Further, it was also conveyed that all such retirement cases should be received by the first week of the month of superannuation of the officer(s) concerned,” said the directive, issued to secretaries of central government departments and the chairman and managing directors of public sector banks, undertakings and autonomous organisations.

Tata AIA Life records 26% rise in new premium during Apr

by | May 20, 2020 | ,

Rishi Srivastava,MD & CEO,Tata AIA Life Insurance said,“The first step was to transition to complete remote working enabled by end to end digital capabilities so that we can continue to be of service to policyholders and consumers 24×7.We ensured there was no break in our online availability through SMS, whatsapp, website, online chat. The next step was to ensure that the health of our employees and agents is taken care of. ‘’

Cyclone Amphan tears into India,Bangladesh,destroys homes,whips up storm surge

by | May 20, 2020 | , ,

West Bengal Chief Minister Mamata Banerjee said at least 10 people had died in the state, and two districts been completely battered by one of the strongest storms to hit the region in several years.

“Area after area has been devastated. Communications are disrupted,” Banerjee said, adding that although 500,000 people had been evacuated, state authorities had not entirely anticipated the ferocity of the storm.

Another 650,000 people have been moved to safety in the eastern Indian states of Odisha and West Bengal, authorities said, an operation carried out amid surging coronavirus infections.

It was too early to estimate a toll on life or damage to property.

Cyclone Amphan began moving inland with winds gusting up to 185 kph, Mrutyunjay Mohapatra, director general of the India Meteorological Department, told reporters.

Total global Covid-19 cases may reach 50 million,644,000 deaths expected in next 4 weeks:AIR Worldwide

by | May 20, 2020 | , , , ,

“Underreporting is driven by the fact that as much as 60-80 per cent of people infected with COVID-19 may exhibit no symptoms or only mild symptoms and, most likely, do not get tested. The cases of COVID-19 that are reported, therefore, represent at best only 20-40 per cent of the total population. Therefore, in all likelihood, underreporting is substantively higher. Testing more widely in the general population would lead to more accurate numbers of cases and deaths being reported. The projections from the Verisk COVID-19 Projection Tool account for underreporting,”Doug Fullam, director of life and health modeling, Verisk.