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Full functional autonomy for PSU general insurers not privatisation: Unions
On Friday, Sitharaman also said the private general insurers have greater penetration and raised more money from the market and therefore give a better premium for public and innovative covers. On the other hand, the government insurers are not able to perform as they are short of resources.
Responding to that Jha said: “In 2019-20 the four PSU general insurers issued about 7.33 crore policies. The numbers of last fiscal will be similar. One should compare this with the number of policies issued by the private players to calculate insurance penetration.”
Bengal finance minister Amit Mitra questioned the “anti-people policy” of privatising public sector insurance companies LIC and United India Insurance Company, urged her to stop the privatisation attempt that will jeopardise investments of crores of people.
Estimated loss worth Rs 632 crores occurred due to rain, cloudburst, landslide in Himachal
While speaking to ANI, State Disaster Management Authority Director Sudesh Kumar Mokhta said, “So far, 211 people and 438 animals have died in incidents related to rain, cloudburst, and landslide in Himachal Pradesh during this monsoon season.”
“109 houses are fully damaged. Estimated loss worth Rs 632 crores has occurred”, said SDMA Director SK Mokhta. This development comes hours after various incidents of floods, landslides following heavy rainfall were reported in the State.
Delhi: Water level in Yamuna rises again; over 100 families moved to safer areas
On Friday, the Delhi administration had sounded a flood alert and expedited efforts to evacuate people from vulnerable areas, as the river in the capital breached the danger mark of 205.33 meters amid heavy rains in the upper catchment areas. The water level was recorded at 205.30 meters at the Old Railway Bridge at 9 am.
Leading auto makers post double-digit sales growth in July
Similarly, Honda, Nissan, MG Motor, and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors.
The country’s largest carmaker Maruti Suzuki India’s (MSI) domestic sales increased by 39 percent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
International
Trov and Sompo partner to expand global mobility solutions
Catering to the needs of new transportation businesses such as micro-mobility, car-sharing, ride-hailing, and autonomous vehicle fleets, the partnership will leverage Trov’s Vehicle Activity API to identify risks and create new experiences for the operators and customers of the mobility platforms, all based on data received from connected vehicles and devices.
Insurtech, Data help Canadian farmers cut lending, insurance costs
Canadian farmers — grappling with with lower crop income,...
Calpers says one-fifth of public holdings exposed to climate risk
Key appointments made for governance and delivery of the Future at Lloyd’s
John Neal, Lloyd’s Chief Executive Officer, said:“Since the launch of Blueprint One, we have focused on designing a carefully structured and managed approach to planning and execution to allow regular delivery of value to the market. With robust governance and oversight now in place, and the funds for delivery secured, we have every confidence in the successful delivery of the Future at Lloyd’s.”
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