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New India Assurance net profit at Rs 530 crore,up 61 % in Q2 2019-20

Atul Sahai, chairman cum managing director,NIA, said, “It is heartening that the company has recorded encouraging results despite a challenging operating environment. These results are despite the company incurring significant losses to its net, to the tune of Rs 335 crores during the quarter due to floods in different parts of the country. There is slow down in motor segment. Provisions towards bad debts and dimunition in value of certain equity investments further impacted profitability by Rs 40 crores in the quarter.’’

Australia braces for another week of Devastating Bushfires

While bushfires have been an important part of Australia’s ecology, some scientists have expressed concern that the season is getting longer. The drought gripping parts of Australia has created hazardous conditions in many regional communities, where some residents have complained that insufficient back-burning has taken place during the winter months, leaving a fuel load of fallen trees and undergrowth.

IRDA frames regulations on wellness benefits in health insurance products

Insurers will also ensure that the service providers under wellness / preventive programs have put in place appropriate mechanism to discharge their obligations by offering the agreed services or products under wellness program of every health insurance product. Other than the monetised value of the rewards points redeemed by the policyholders, no payments shall be made by insurers to the third party merchants.