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HDFC ERGO launches `Ticket Cancellation Insurance Policy’
The Sum Insured for the Policy will be the total cost of ticket(s) booked in one transaction of booking.Ticket Cancellation Insurance Policy will be offered for corporate and social events such as musical concerts, training workshops, sports matches, adventure and the likes. The policy will protect the event ticketing partners against financial losses in case the customer cancels a pre-booked ticket(s) of a scheduled event.
PNB Fraud: Banks for raising cover against fraud by staff
Punjab National Bank had only bought a basic banker’s indemnity policy, which covers employee fraud, to the extent of Rs 20 million (Rs 2 crore) which would not cover even 0.2 per cent of Rs 11.3 billion (Rs 11,300 crore) fraud done allegedly by Nirav Modi, Mehul Choksi and his associates in connivance with officials of a Mumbai branch.
RBI launches Ombudsman Scheme for NBFCs
“India is set to become the first and the only country to have a plan and strategies to reduce natural calamities losses’’
“The rapid and unplanned expansion tends to increase vulnerabilities in an event of natural calamity which together with low insurance penetration, leads to the large protection gap between economic and insured losses that could be as high as 80-90% or more. All these factors contribute to a situation where natural disasters seriously threaten India’s economy and growth, its population, environment and sustainable development”
China’s insurance Regulator seizes control of Anbang as chairman prosecuted
Swiss Re’s net profit declines to USD 331 million in 2017, USD 4.7 billion of natural catastrophe losses
Global cybercrime costs $600 bn annually: study
SCOR’s net income falls to EUR 286 mn in 2017, Gross premiums touch EUR 14,789 million, up 8.6 pc in 2017
India ranks 81st in global corruption perception index
Financial crime on the rise in India’s life insurance sector: EY report
According to the report, 56% of the life insurers stated upto 30% increase in fraud over the last two years; 7% confirmed upto 50% increase. 1 in 3 life insurers said their organizations did not have fully established whistle-blowing mechanisms, enhanced third party due diligence processes and robust fraud-response procedures.
Govt meets general insurers to chart out NHPS roll-out
More baby girls than boys die in India, as parents neglect healthcare: UN
Premium On Mega Healthcare Scheme To Be Rs. 900-1,000: NITI
EPFO cuts interest rate to 8.55% for 2017-18 from 8.65% for 2016-17
Indian companies lost $500,000 to cyber attacks in 1.5 years: CISCO
“In today’s zero perimeter world, where data is everywhere, defenders need to relook at cybersecurity from strategic point of view. It is important that security adopts new tools like Artificial Intelligence, Machine learning and incorporate best strategies to mitigate risks,” Vishak Raman, Director, Security Sales, Cisco India & SAARC said.
India 12th among 52 lower middle-income nations having highest infant mortality rates
ESIC draws plan to cover 10-cr formal sector workers by 2022
At present, the ESIC covers around 3 crore formal sector employees in the country, with a total beneficiaries of over 12 crore under its health insurance scheme.According to the statement, the “ESIC Vision 2022” was approved in-principal during the meeting. The vision envisages expansion of ESI Scheme in each district of the country with a target of covering 10-crore workers by 2022