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LIC projects double digit growth in FY24, plans to launch innovative products: Chairman
"We are projecting double-digit growth over the last year. We are going to achieve that because a recent trend is showing uptick in individual retail business. In order to further reinforce our commitment, we are going to launch some new attractive products," LIC...
Liberty General launches insurance campaign in Delhi
Liberty General Insurance has commenced an 'Suraksha ka Vaada, Bima ke Saath' to bolster insurance awareness in Delhi. Parag Ved, CEO & Whole Time Director, Liberty General Insurance said, ''As the lead insurer for Delhi, we are poised to work in collaboration...
Economic models buckle under strain of climate reality
"But climate change is fundamentally different to other shocks because once it has hit, it doesn't go away," said Thierry Philipponnat, author of a report by Finance Watch, a Brussels-based public interest NGO on financial issues Record temperatures, droughts, floods...
Australia unveils cybersecurity ramp up after port cyberattack
Under the new cybersecurity strategy, the government will take measures to better protect consumer data and improve coordination on preventing hacking attempts. O’Neil has committed to work with businesses to create a mandatory reporting structure for ransomware...
BIS sees climate losses hitting governments as insurers exit
Financial watchdogs are stepping up scrutiny of insurers to monitor the developing risks as the industry retreats from markets deemed too risky to cover. BIS researchers are urging the industry, governments and regulators to work together to ensure there’s adequate...
In February, Mark Bova purchased a used 2018 Tesla Model S. Before leaving the dealer, he bought insurance from Tesla, finding the initial $93 monthly premium “really reasonable.” Sixteen days later, as he drove along the Capital Beltway to his Maryland home, he...
AM Best revises GIC Re’s Credit Rating outlooks to positive from stable, assigns National Scale Rating
Ramaswamy Narayanan, chairman and managing director, GIC Re The revision of the Long-Term ICR outlook to positive from negative reflects an improvement in AM Best’s view of GIC Re’s balance sheet strength and ERM fundamentals `With positive Credit Rating...
Sony facing $7.9 bln mass lawsuit over PlayStation Store prices
Sony Interactive Entertainment (SIE) was sued last year on behalf of nearly 9 million people in the United Kingdom who had bought digital games or add-on content through Sony's PlayStation Store. Alex Neill, a consumer advocate who has worked on previous campaigns, is...
NHAI to undertake safety audits of under-construction tunnels across India
With a total length of about 79 km, the 29 under-construction tunnels are spread across the country with 12 tunnels in Himachal Pradesh, six in Jammu and Kashmir, two each in Maharashtra, Odisha, Rajasthan, and one each in Madhya Pradesh, Karnataka, Chhattisgarh,...
Climate vulnerable nations could get insured for $10 mln a year each -research
With rich nations under pressure to fill the pot, researchers from the University of Cambridge's Institute for Sustainability Leadership said they had reached a "breakthrough" in understanding how to use this money to protect countries from the spiralling cost of...
1.3 million lives lost every year to cancers caused by tobacco smoking in 7 countries: Lancet study
The higher number of years of life lost to head and neck cancer in men in India could be explained by smoking habits being different to those in the U.K., with the general population smoking different tobacco products, according to the researchers. Over 1.3 million...
India wants private money for coal-fired plants despite Western opposition
Private power companies were told that the majority of the peak-hour electricity demand in India can be met by coal-based power stations, since storage technologies are costlier to support solar and wind-based energy generation, officials said. New Delhi: India on...
People with joint, muscle disorders expected to increase by 115 pc by 2050: Study
The projected figure of musculoskeletal disorder cases is an increase of about 115 per cent from that of 2020, and most regions were projected to have at least a 50 per cent increase in cases between 2020 and 2050, the international study by The Institute for Health...
France, US to propose ban on private finance to coal-fired plants at COP28 – sources
About 73% of electricity consumed in India is produced using coal, even though the country has increased its non-fossil capacity to 44% of its total installed power generation capacity France, backed by the United States, plans to seek a halt to private financing for...
UCO Bank recovers 79% of wrongly credited amount after technical glitch, reports to CBI
The state-owned bank is yet to clarify whether this technical glitch was due to human error or a hacking attempt New Delhi: UCO Bank on Thursday said the bank has retained or recovered Rs 649 crore or 79 per cent of the amount erroneously credited to some accounts of...
Electronic Health Records can speed up underwriting process by more than seven times: Swiss Re study
Swiss Re's extensive learnings emphasize the significance of digital Electronic Health Records (EHRs) for quicker and more accurate underwriting decisionsEHRs could replace Attending Physician Statements (APS) in nearly 50% of cases that originally relied on APS only...
Senior living offers huge growth opportunities as elderly share in total population to double by 2050: Report
''With current population of over 0.1 billion (10 crore) seniors in India, there is a significant untapped opportunity for investment and development in the senior living sector.'' New Delhi: Senior living market offers a huge potential for investment and development...
K’taka CM Siddaramaiah writes to Delhi to expedite releasing drought relief funds
Siddaramaiah,Chief Minister,Karnataka The chief minister pointed out that out of 236 taluks, 223 have been declared drought hit in Karnataka. Among them, 196 are categorised as severely drought affected Bengaluru: Karnataka Chief Minister Siddaramaiah on Wednesday...