The Covid-19 pandemic has brought about a big shift in the insurance preference for customers. While the pandemic has made corporates take up the responsibility of providing insurance coverage to their employees by subscribing to group insurance plans, the financial uncertainty the pandemic has created has pushed back individuals from buying into insurance. In the month of July, group annualised premium equivalent (APE) has reported a strong performance, with 50.3 per cent year-on-year growth. APE is the sum of annualised first-year premiums on regular premium policies and 10 per cent of…

India’s long-established tea industry is struggling. Heavy rains and the absence of tea pickers because of lockdowns have hammered production and sent local prices spiraling to records, while top buyers are turning to Kenya where the market has dropped, said Azam Monem, director at Mcleod Russel India, one of the country’s biggest growers. Output in the world’s second-largest producer is set to shrink to the smallest in five years, falling 13 per cent to about 1.21 billion kilograms, while exports will drop 16 per cent to about 210 million kilograms, a…

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The rise in the number of Covid-19 cases in the country has led to a surge in health insurance claims. Non-life insurers, as of Tuesday, have received more than 100,000 claims to the tune of Rs 1,644 crore. Of the total claims received, nearly 66,000 claims amounting to Rs 628.95 crore have been settled so far. When policies were issued, insurers were caught on the wrong foot. “This explains why insurers were worried about hospitals fleecing patients. We wanted the cost to be reasonable and consistent,” said a senior insurance executive. “The gap in…

Adani Ports and Special Economic Zone (APSEZ) on Tuesday said its board has approved a proposal to raise up to Rs 3,000 crore through issuance of non-convertible debentures (NCDs). The fund will be raised in one or more tranches. “The Board has given its in-principle approval for issuance of Non-Convertible Debentures for an aggregate amount not exceeding Rs 3,000 crores in one or more tranches on private placement basis,” APSEZ said in a regulatory filing to the BSE. The debentures to be issued will be listed on BSE Limited and/ or…

August 7, 2020 5 min readOpinions expressed by Entrepreneur contributors are their own. I was recently referred to Robby Blanchard, an increasingly popular online marketer who got his start as a gym owner. Blanchard was perpetually looking for new and better ways to market his gym, and in the process, he developed a series of easy steps that every business can use to accelerate their desired marketing goals. He became familiar with the Clickbank online digital platform, and within five years became Clickbank’s top-selling affiliate. Following that success, he created an online program called “Commission Hero” to teach other…

When Isaac Newton published his third law of motion in 1687 — that for every action, there is an equal and opposite reaction — he unintentionally gave us a conceptual model that extended beyond the motion of physical objects. About 300 years later, the economist Albert Hirschman applied this action–reaction lens to the study of political, social, and economic progress and arrived at a provocative conclusion. He proposed in his book The Rhetoric of Reaction that opposition to progress is often “shaped, not so much by fundamental personality traits, but simply by the imperatives of argument, almost regardless of the…

In a massive crackdown against front-runners, market regulator Securities and Exchange Board of India (Sebi) imposed a stock market ban on more than two dozen individuals. Sebi also ordered impounding of their bank accounts to an extent of the alleged illicit gains made by these individuals. The market regulator passed a 55-page interim order in the matter of front running trading activity by dealers of Reliance Securities. Between December 2019 and April 2020, Sebi’s internal alert system generated front running alerts. Front running is a term used to describe a broker,…