by AIP Online Bureau | Jan 4, 2024 | Indian News, Non-Life, Reinsurance
Indian insurance industry sources said GIC Re will be paying around Rs18 crore while three other PSU general insurers, New India Assurance(NIA), Oriental Insurance Company(OIC) and National Insurance Company(NIC)will have fork out Rs 5 crore each to meet their part of...
by AIP Online Bureau | Jan 4, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
The Japan Airlines policy mainly covers damage to the hull, one of the sources said. U.S. insurer AIG was the lead insurer on a $130 million “all-risks” policy for the Japan Airlines airplane which collided with another plane at Tokyo’s Haneda airport, two insurance...
by AIP Online Bureau | Jan 4, 2024 | Data, Eco/Invest/Demography, Health
The total active caseload of the viral disease was logged at 4,423, a decrease of 17 since Wednesday morning, according to the Ministry of Health and Family Welfare. (MoHFW) New Delhi: A single-day rise of 760 new cases of Covid were recorded in the country as two...
by AIP Online Bureau | Jan 4, 2024 | Indian News, Pension & Social Security, Workplace/Employee Benefits
Under the OPS, a government employee gets a monthly pension equivalent to 50 per cent his/her last drawn salary. There was no need for contribution by employees. The OPS was discontinued in the state in 2005 Mumbai: The Maharashtra cabinet on Thursday cleared a...
by AIP Online Bureau | Jan 4, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
The report revealed that, in contrast to 12 months earlier, the key renewal period proceeded ‘relatively smoothly’, as a rebound in profitability and capital positions, and greater availability of retrocession capacity, encouraged many reinsurers to display increased...
by AIP Online Bureau | Jan 4, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
“As boardrooms prepare for risks on the horizon, it is encouraging that 37% of boardroom executives in Singapore are planning to explore insurance options that include risk and crisis management. In 2024, the insurance industry has a large role to play in helping...
by AIP Online Bureau | Jan 4, 2024 | Data, Eco/Invest/Demography, Health, Policy, Regulation
Finance Minister Kanubhai Desai had also announced to double the insurance cover under the revamped Pradhan Mantri Jan Arogya Yojana-Mukhyamantri Amrutam (PMJAY-MA) scheme from Rs 5 lakh to Rs 10 lakh in the state budget presented last February Ahmedabad: Gujarat...
by AIP Online Bureau | Jan 4, 2024 | Eco/Invest/Demography, Features, Policy, Regulation, Technology
Countries including India, Indonesia and Bangladesh have recently passed laws to more closely police online content and penalise social media sites for content deemed misinformation, so platforms are “holding their punches”, said Raman Jit Singh Chima,...
by AIP Online Bureau | Jan 4, 2024 | Data, Eco/Invest/Demography, Technology
”Delhi records a massive 19.5% EV sales of the overall vehicles sold in Dec 2023. It is the HIGHEST ever among any state in India till date. Overall in 2023, Delhi registered a total of 6,57,312 vehicles out of which 73,610 were Electric,” Gahlot said on X...
by AIP Online Bureau | Jan 3, 2024 | Indian News, Life
The demand pertains to wrong availment of Input Tax Credit (ITC) and non-payment on tax on turnover wrongly declared as non-GST supply in GSTR-1 for 2017-18, and 2018-19, it said Mumbai: Life Insurance Corporation of India (LIC) on Wednesday said tax authorities have...
