SIRC 26
Indian
Pent-up demand to push auto dealer volumes up by 10-15% in FY22: CRISIL
Dealers of two-wheelers, passenger vehicles and commercial vehicles expect sales to increase 10-15 per cent this fiscal on a low base of last fiscal, driven by new model launches, pent-up demand, and festive season sales, the survey revealed.
However, a possible third wave of COVID-19, spurt in fuel prices and supply constraints of original equipment manufacturers (OEMs) are seen among factors that could slow the sector down, CRISIL said on Monday.
After July, August too set to record less than normal rainfall: IMD
Ez4EV to soon launch on-demand mobile charging stations for EVs
The transition from IC (internal combustion) engines to e-mobility requires efficient charging infrastructure. The Ez4EV plans to solve the problem of inadequate infrastructure by deploying a network of autonomous EzUrja charging stations. With this, the company aims to become a key player in the innovative charging infrastructure market by providing ‘Infra-as-a-Service’ for the Indian EV sector.
PhonePe receives insurance broking licence from IRDAI
With over 300 million registered users,Phone Pe’s ‘direct broking’ license will allow it to distribute insurance products from all insurance companies across India.
Gunjan Ghai, vice president & head of insurance at PhonePe said, “This licence is a big milestone in our insurance journey as this move to broking will give us further momentum and accelerate our growth in this space. We are building a robust, full-service platform for our deeply engaged customer base through products in partnership with high quality insurers.”
International
SCOR acquires a majority stake in Brazilian AgroBrasil,strengthens expertise in agriculture
Laurent Rousseau, Deputy Chief Executive Officer of SCOR Global P&C, and CEO of the Specialty Insurance business, comments: “Through this acquisition, SCOR is further building its Specialty Insurance franchise and MGA platform. SCOR will also strengthen its expertise in agriculture insurance, a highly complex specialty: being at the forefront of technical risk-knowledge and fostering product innovation for the benefit of our clients around the world is an integral part of our DNA.”
Insurers rush to exclude Coronavirus epidemic from event-cancellation protection
Coronavirus leads companies with supply chain disruptions to invoke ‘Force Majeure’
-Force majeure refers to unexpected external circumstances that prevent a party to a contract from meeting their obligations.
-The underlying event must be unforeseeable and not the result of actions undertaken by the party invoking force majeure. Natural disasters, strikes, and terrorist attacks can all be force majeure events.
-Declaring force majeure may allow a party to a contract to avoid liability for nonperformance.
Etiqa Insurance Singapore protects customers with Financial Assistance Benefit amid COVID-19 Outbreak
Staying committed to their mission to make the world a better place, the Etiqa Insurance Singapore will provide hospitalisation benefits of S$100 daily (up to 10 days) for patients in stable condition and S$200 daily (up to 5 days) for those in the Intensive Care Unit (ICU), including a lump sum payment of S$50,000, in the event of death, as a result of the COVID-19 viral infection.
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