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Insurers face substantial losses from planes grounded in Russia, may lead to hardening of premiums: Fitch Ratings
Multi-billion-dollar aviation insurance claims could have significant knock-on effects on the aviation insurance market. ``We would expect insurers and reinsurers to respond by increasing premiums, incorporating more exclusion clauses in their contracts, and cutting...
GIC Re’s Madhulika Bhaskar appointed as acting CMD of New India Assurance
Madhulika Bhaskar Unlike the old practice, where normally two general managers of a PSU general insurance company, where the vacancy is occurring, are given charge as an interim arrangement till a regular CMD is appointed, this is for the first time, a general manager...
Star Health launches exclusive cover for people above 50 years
The Star Health Premier Insurance Policy offers benefits such as Home Care Treatment for specified conditions (up to 10% of the sum insured subject to a maximum of Rs.5 lakhs), cover for inpatient hospitalization expenses and day care treatments under Ayush Treatment,...
SUD Life, Vakrangee join hands to sell insurance policies in smaller towns
Star Union Dai-ichi Life Insurance (SUD Life) will tap customers living in smaller towns and rural areas through a partnership with Vakrangee.SUD Life is a joint venture between Bank of India, Union Bank of India, and Dai-ichi Life Japan. ''With the help of Nextgen...
GKB Opticals ties up with Toffee Insurance for eyewear-cover
GKB Opticals, India’s oldest and largest retailer of optical products, has partnered with Toffee Insurance to provide innovative vision and eyewear-related insurance solutions for its customers. Insurance solutions will include eyewear theft and damage, and also...
Parliamentary panel for framing price control regime for COVID medicines, medical devices
''The Committee recommend that all medical devices critical to COVID-19 treatment like ventilators, oxygen concentrators etc. should be covered under the National List of Essential Medicines for effective price control,'' the report said New Delhi: Parliamentary panel...
New Zealand enacts a new law to modernise natural hazard insurance
The Bill’s name - Natural Hazards Insurance Bill - recognises the fact that EQC’s mandate extends further than just helping people recover from earthquakes. In fact, its insurance scheme also covers landslips, volcanoes, tsunami and hydrothermal activity. Making this...
Global Facebook interest declines about 90% in last 10 years: Report
From 1.93 billion daily users in Q3 2021, the number of users further fell to 1.929 billion in Q4, the report said. Several advertisers have moved away from Facebook, and TikTok is becoming extremely popular since it's more affordable from a cost-per 1,000 impressions...
No country met WHO air quality standards in 2021 – data
India's overall pollution levels worsened in 2021 and New Delhi remained the world's most polluted capital, the data showed. Bangladesh was the most polluted country, also unchanged from the previous year, while Chad ranked second after the African country's data was...
Global Covid caseload tops 472 mn, fatalities surge past 6.09 mn
The US continues to be the worst-hit country with the world's highest number of cases and deaths at 79,775,780 and 972,603, according to the CSSE The second worst hit country in terms of cases is India (43,009,390 infections and 516,510 deaths), followed by Brazil...
Telemedicine booms in S.Korea amid COVID,President-elect Yoon backs practice
A total 2 million people are under home care for COVID in the country. While there are two doctors per 1,000 people on average in South Korea, only six of 17 cities and provinces meet the average, showing how health care is thinner in many parts This gap in...
Boeing’s tenuous recovery shaken by 737 Jet crash in China
It’s too soon to know what caused the China Eastern accident, and investigations can take months or years to unfold. The lost airplane was relatively young, flying commercially for about seven years. Leading causes of such accidents tend to be maintenance issues,...
RBI Guv allays stagflation fears, says Ukraine war to have minimal impact on India
Shatikanta Das,Governor,Reserve Bank of India Firmly ruling out the prospects of the economy falling into stagflation -- a situation of prices shooting over the roof and growth plunging -- Reserve Bank Governor Shatikanta Das on Monday instead said prices are set to...
DGCA puts Boeing 737 on ‘enhanced surveillance’ after China plane crash
When asked what steps the Directorate General of Civil Aviation (DGCA) is taking following Monday's crash, Kumar told PTI, "Flight safety is serious business and we are closely studying the situation. In the interim, we are focusing on enhanced surveillance of our 737...
EPFO interest rate better than other schemes, reflects today’s realities: FM in RS
Finance Minister Nirmala Sitharaman cited the comparative prevailing interest rates of other schemes saying Sukanya Samriddhi Yojana offers 7.6 per cent, Senior Citizen saving scheme (7.4 per cent) and PPF (7.1 per cent), while SBI's 5-10 year fixed deposits attracted...
Govt should construct trauma centres near highways: Chowdhury
Every hour there are 35 accidents and one death in every four minutes and ''this is quite untenable,'' he said adding how many trauma centres are being set up to deal with the road accident cases. New Delhi; Expressing concern over road accidents and deaths, Congress...
Govt yet to choose PSU general insurers to be privatised: Karad
Bhagwat Karad, minister of state, ministry of finance As per inputs received from Department of investment and Public Asset Management(DIPAM), the government has not yet decided on the public sector general insurance companies that are to be privatised The government...
Berkshire Hathaway to buy Alleghany for $11.6 bn in return to dealmaking
Warren Buffett, chairman, Berkshire Hathaway Inc Buffett is diving deeper into the world of insurance with the Alleghany deal, an industry that has been key to the growth of Berkshire into a conglomerate with a market value of more than $750 billion With Alleghany,...