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PSU General insurers to clear five-yr wage arrears without govt extra support on Nov 10

by AIP Online Bureau | Oct 26, 2022 | Indian News, Non-Life

“Yes, we have now got instruction from the government to clear the arrears of our employees at one shot on 10th November with or without any financial supports from it. If the government is not giving any additional funds, we will have our own internal source of...

IRDA forms Rakesh Joshi panel to suggest measures to expand health insurance

by AIP Online Bureau | Oct 26, 2022 | Health, Indian News, Non-Life, Regulation, Technology

The panel will arrive at ways and means to increase the penetration of health insurance in India including identifying issues and challenges in the entire value chain and making recommendations to overcome them Hyderabad: In a bid to achieve the goal of...
IRDAI allows repatriation of 20% excess assigned capital by FRBs and Lloyd’s once in a yr

IRDAI allows repatriation of 20% excess assigned capital by FRBs and Lloyd’s once in a yr

by AIP Online Bureau | Oct 26, 2022 | Indian News, Non-Life, Regulation, Reinsurance

Almost 10 FRBs along with Lloyd’s of London who are now operating in India for last fours years have an average capital of Rs 1000 crore and going by the new regulation after ensuring solvency ratio, the FRBs can return 20 % excess capital to their parent...
Govt nudges LIC to tweak product strategy for better investor return

Govt nudges LIC to tweak product strategy for better investor return

by AIP Online Bureau | Oct 26, 2022 | Indian News, Life, Wealth Management/ Philanthropy

The finance ministry in its performance review has been sensitising the LIC management about the steps that could be taken to better investor wealth and focus on non-participating products or term plans to improve profitability New Delhi: The government is nudging LIC...

Historic net-zero international flight goal agreed at UN conference

by AIP Online Bureau | Oct 26, 2022 | Eco/Invest/Demography, International News

To achieve this aim, several CO2 emissions reductions measures will need to be put in place, such as the accelerated adoption of new and innovative aircraft technologies, streamlined flight operations, and the increased production and deployment of sustainable...

Re/insurers face tough issues over large potential claims From Nord Stream Pipeline Blasts

by AIP Online Bureau | Oct 26, 2022 | International News, Non-Life, Reinsurance

Munich Re and syndicates within the Lloyd’s of London market are among the major underwriters for Nord Stream 1 and it was unclear whether they would renew its cover If the insurance is not renewed, the prospect of the pipeline bringing gas to Europe under the Baltic...

Fungal infection list launched by WHO flags global health threat

by AIP Online Bureau | Oct 26, 2022 | Climate, Environment, Renewable Energy, Eco/Invest/Demography, Health, International News, Non-Life

“Emerging from the shadows of the bacterial antimicrobial resistance pandemic, fungal infections are growing, and are ever more resistant to treatments, becoming a public health concern worldwide,” said Dr Hanan Balkhy, WHO Assistant Director-General for...

Australian health insurer says data of all customers hacked

by AIP Online Bureau | Oct 26, 2022 | Health, International News, Non-Life

“Our investigation has now established that this criminal has accessed all our private health insurance customers’ personal data and significant amounts of their health claims data,” Medibank chief executive David Koczkar said in a statement to the Australian...

Uber drivers declared as employees by New Zealand court

by AIP Online Bureau | Oct 26, 2022 | International News, Pension & Social Security, Technology

The Employment Court highlighted the need to adopt a purposive approach to determining the status of the drivers, having regard to the applicable legislation and its role in protecting vulnerable workers, regulating the labour market, and ensuring the maintenance of...

Heat-related deaths in India increased by 55% from 2000-2004 to 2017-2021

by AIP Online Bureau | Oct 26, 2022 | Data, Health, Indian News, Non-Life

Improvements in air quality will help to prevent deaths. In 2020, over 330,000 people died in India due to exposure to particulate matter from fossil fuel combustion New Delhi: Warning that health is at the mercy of fossil fuels, from 2000-2004 to 2017-2021...
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