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Indian
1.71 cr workers from unorganised sector registered on e-Shram portal in a month: Labour Ministry
Data analysis based on the last week showed that a substantial proportion of women workers in domestic work are getting themselves registered on the portal. This is one category of occupation where women outnumber men.
Besides, women form substantial proportion of workforce in sectors like agriculture as labourers, food industries as helpers and machine operators, apparel industry as helpers and tailors and also in small scale units of tobacco/ beedi rolling and as ASHAs/ ANMs in the healthcare industry.
Therefore, it would not be wrong to assume that most vulnerable groups of women are insured under various protection schemes accruing from registration at the portal, the ministry said. Since week one, Odisha and Bihar have competed with each other to maintain the first position, it stated.
DIPAM shortlists Cyril Amarchand Mangaldas as legal advisor for LIC IPO
ICICI Pru Life in discussion for onboarding Account Aggregator system: Official
Earlier this month, the government unveiled the Account Aggregator (AA) network to allow sharing of financial data of individuals, which can be used by various financial services providers such as banks, insurers, fintech companies.
”It is a big enabler and there are some discussions. We will have to see operationally where exactly we are,” Deepak Kinger, Chief – Risk and Compliance, ICICI Prudential Life Insurance Company (ICICI Pru Life), told PTI.
Cyclone Gulab to make landfall today, IMD issues alert for Andhra, Odisha
International
Germany sets up protective shield for credit insurers
Swiss Re can manage Covid-19 crisis,chairman
Swiss Re’s Chairman Walter B. Kielholz said“Despite the current circumstances, business is running without interruptions at Swiss Re as we continue to handle claims, renew contracts,share our knowledge and innovate. While at this point we assess the financial impact of the current crisis on Swiss Re as absolutely manageable, we run our business and allocate capital with the prudence that current volatility calls for.”
Chubb CEO Greenberg Warns Retroactive Measures Would ‘Bankrupt’ Insurance Industry
Greenberg said that a potential way to handle pandemic risks in the future would be to create a public-private partnership, where insurers could start covering that risk for a proper price and the government could take on the tail-risk exposure. That model would echo efforts by the government and insurance industry to deal with terrorism risks after the Sept. 11, 2001, attacks.He cautioned, however, that affordability would become a major question. Insurers will need to set prices to appropriately account for the heightened risk, but that could mean policyholders might shy away from coverage because of the higher cost.
Hiscox says UK lockdown not covered under business interruption policy
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