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Citizens may soon be able to opt-out of Aadhaar as govt looks to amend the Act
Once implemented, the opt-out provision can be availed by all and their Aadhaar number and details including demographic and biometrics will be deleted from the servers of the UIDAI.
However, if a person opts out of the Aadhaar scheme, he/she won’t be able to avail many government schemes and subsidies where Aadhaar linkage is still mandatory.
Insured losses from California Wildfire Between $6 bn and $9 bn: AIR Worldwide
The fact that damage from fire, including wildfire, is included in standard homeowners’ policies in California informs the assumption of nearly 100% take-up rates. The range of loss estimates is based on the modeled loss within the burn scar and reflects uncertainty in the payment of additional living expenses resulting from mandatory evacuations, loss of some individual structures outside of the most affected neighborhoods, extra expense and ordinance losses, as well as loss due to smoke, loss of electricity, and damage from suppression efforts.
Actuaries face uncertainty amid encroachment by Data Scientists
Seasoned actuaries often earn more than $200,000, and the field perennially ranks near the top of “best career” surveys. A Bankrate.com survey from this summer called actuarial science the most valuable bachelor’s degree based on pay and employment. However, industry conventions are rife with warnings that data scientists are encroaching on actuaries’ turf, and that their lack of speaking skills keeps them locked in bookish roles at insurers.
Self-Driving Vehicle Regulation Bill gets late push in US Senate
Bombay HC asks New India to pay Rs 7.60 crore motor accident claim
The family members of the deceased, Ravindra Kulkarni, who was working as the chief executive officer of Tata Precision Industries — a Tata group company —based in Singapore and was earning more than 11,000 Singapore dollars (about Rs 3.34 lakh, as per the conversion rate relied by the HC) a month at the time, sought enhancement of the Rs 2.50-crore compensation amount granted by the Motor Accident Claims Tribunal, the insurance company pleaded for the rejection of the claim altogether.
Virtual Competition: Online Platforms, Consumer Outcomes and Competition in Insurance
The importance of platforms in insurance is likely to increase further, due to the deployment of new technologies and shifting consumer expectations. A global consumer survey (unpublished) by The Geneva Association and Edelman Intelligence revealed that 60% of respondents would go online to look for information about insurance. Platforms such as Google, Amazon, and Alibaba have entered into agreements with insurance companies or are otherwise weighing up their entrance to the insurance space.
Early diagnosis of disease to drive future life expectancy, Swiss Re
IRDAI proposes changes in registration norms for insurance marketing firms
India:Over 18.10 lakh registered companies, only 62% active at end of October: Official data
India has more than 18 lakh registered companies but only 62 percent of them were actively functioning at the end of October, according to official data. The majority of active companies were engaged in business services. With more than 6.46 lakh...
Marriott Data Breach highlights `Silent Cyber Risk’ in acquisitions
Hotels are especially vulnerable to security breaches, because many still swipe credit cards at check-in rather than implement chip readers, said Brian Krebs, a cybersecurity expert. Last year, he said, both Hyatt Hotels Corp. and the Trump hotels collection had security breaches and in 2016, he uncovered similar breaches at InterContinental Hotels Group.
Atul Sahai takes charge as CMD of New India Assurance
Govt not to participate in LIC’s open offer in IDBI Bank
ITR filing up 50%; will meet Rs 11.5-trn direct tax target: CBDT chairman
G Srinivasan appointed as director of Pune based NIA
Srinivasan had retired from New India Assurance, the largest Indian general insurer, in July end after heading company during 2013-2018 and likely to take over in Jan 2019. NIA is dedicated to Management Development Programmes catering to the insurance industry professionals to enhance the management skills and do main expertise and has now two year Post Graduate Diploma in Management course to fulfill the growing demand of skilled professionals in Insurance and Risk Management.
Modicare:Bajaj Allianz Gen bags J&K and Mizoram,Meghalaya goes to Reliance Gen
Under the scheme, a cover of Rs 5 lakh will be provided which includes secondary and tertiary health care. There is no cap on family size and all members in the family would be covered for all pre-existing diseases, maternity etc. from day one and beneficiaries can opt for the hospital of their choice from the list of empanelled hospitals across India.