SIRC 26
Indian
India eyes turning 3-wheelers into EVs
Mahua Acharya, MD and CEO,Convergence Energy Services Ltd said there are 5.5 lakh electric three-wheelers (E3W) on the road.
”After accounting for central government subsidy, the price of E2W comes to Rs 55,000 to Rs 1.3 lakh. If states give subsidies, the prices will come down further. At this, price is very competitive (compared to fossil-fuel-based two-wheelers),” she said.
IRDA revamps trade credit insurance norms, SMEs and project finance to benefit
Some of new kind of covers that will now available in India are:
“Project Cover”- insurance of receivables, against non-payment by the principal or buyer, provided to a contractor engaged in but not limited to long term infrastructure, civil and industrial projects and services. The project period should be more than six months.
“Protracted Default”- failure by a buyer to pay the contractual debt within a predefined period calculated from the due date of the debt.
“Reverse Factoring arrangement” where any arrangement in whatever name or form, between a borrower and a financer, wherein a borrower receives or is supposed to receive finance, either directly or indirectly, for borrower’s purchase of trade receivables, goods or services
IRDAI asks insurers to design innovative, tailor-made Cyber products for policyholders
The main objectives of new the guidance document on product structure for Cyber Insurance are;to enable insurers to evaluate new technologies posing heightened cyber risk, identify protection gaps in the existing products and address the changing needs of market,to facilitate insurers in developing stand-alone cyber insurance products, specifically designed to address the evolving cyber risks,to provide a set of recommendations on maximum possible coverages that could be included in the cyber insurance products, to encourage insurers to adopt best practices and provide additional covers in response to customer needs, to improve the development of the cyber insurance market with new products and enhance benefits for policyholders, explained the IRDAI.
India to post strong GDP growth in coming quarters: S&P
International
UK fines Cathay Pacific $639,000 for data-security lapses over 4-yr period
Between October 2014 and May 2018, Cathay Pacific’s computer systems “lacked appropriate security measures which led to customers’ personal details being exposed, 111,578 of whom were from the UK, and approximately 9.4 million more worldwide,” the UK Information Commissioner’s Office said in a statement on its website on Wednesday.
As India coronavirus cases spike, experts daunted by prospect of South Asia spread
Parametric insurance could offer hotels relief from Coronavirus cancellations
Coronavirus may force companies to rethink global supply chains: OECD Economist
The sprawling, continent-crossing supply chains of corporations have already come under pressure from trade tensions and climate concerns, and may face further stress as countries change global taxation rules. If and when the dust settles from the coronavirus, OECD’s chief economist Laurence Boone said firms will likely pause to reconsider what they do.
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