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India needs to evolve into a pensioned and insured society: Arun Jaitley
PFRDA Chairman Hemant G Contractor said that his office is considering an auto enrolment system under the National Pension System (NPS) with an element of soft compulsion, in which all the employees working in government identified sector/industries in unorganised sector would be automatically covered unless they choose to opt out.
Officers’ Associations brace up for mergers of three PSU general Insurers
It was felt that IT would be the major challenge as far as merger is concerned since all the companies are working on completely separate system. Since New India Assurance Officers Association expressed their reservation on merger of four companies, so it was for the time being decided that strategies would be formulated keeping in view of the interest of the three companies
HDFC ERGO launches `Ticket Cancellation Insurance Policy’
The Sum Insured for the Policy will be the total cost of ticket(s) booked in one transaction of booking.Ticket Cancellation Insurance Policy will be offered for corporate and social events such as musical concerts, training workshops, sports matches, adventure and the likes. The policy will protect the event ticketing partners against financial losses in case the customer cancels a pre-booked ticket(s) of a scheduled event.
PNB Fraud: Banks for raising cover against fraud by staff
Punjab National Bank had only bought a basic banker’s indemnity policy, which covers employee fraud, to the extent of Rs 20 million (Rs 2 crore) which would not cover even 0.2 per cent of Rs 11.3 billion (Rs 11,300 crore) fraud done allegedly by Nirav Modi, Mehul Choksi and his associates in connivance with officials of a Mumbai branch.
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