Most people associate 'accident' with vehicles and the injuries if one is hit by them. But, an accident can be situations such as snake bites, electric shocks, drowning, injury by fire or a fall at home.In May 2019, an Insurance Regulatory and Development Authority (IRDAI) Working Group proposed that home insurance policies must cover accidental deaths due to gas cylinder explosion for a reasonable amount.Almost 4,000 lives are lost every year in India due to gas cylinder or stove blasts. More than a lakh individuals die in road accidents in India every year. The list can go on. Accidents happen and one can’t avoid emotional loss and the trauma arising out those accidents.Close Personal accident insurance policies offer financial protection to the insured person in case of accidental death, or partial or total disabilities arising out of the accident. A personal accident cover accounts for many types of accidents, in addition to those caused by a vehicle hit. related … [Read more...] about Explainer | Personal accident insurance: How does it work?
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Most non-life insurance policies−be it health, personal accident, auto or home−are contracts renewable yearly. Barring a few two- and three-year covers introduced by non-life insurers, most policy holders receive yearly renewal notices for the payment of their premiums to retain their insurance covers. With the advent of technology, it has become a hassle-free act in most cases. All you need to do is to read the text message from your insurer, click on the link given in it, tick the accept term and conditions box and make the payment online. Within a minute or two, the policy document hits your email inbox.Review your renewal notice It is a sacrosanct document, most experts say. It is the base of the contract you are entering into. Do check your name and other details. Check what you are insuring. For example, if you are renewing a personal accident insurance cover, do check the coverage offered for each event−accidental death, total permanent disability and … [Read more...] about Five factors to review before renewing your insurance policy
The Central Government recently reduced the contribution under the Employee’s State Insurance(ESI) Act to 4 per cent from 6.5 per cent. This revision is effective from June 1, 2019 and is expected to benefit 3.6 crore employees and 12.85 lakh employers. The recent reduction in the rate of contribution does not reduce the benefits offered under the scheme. But, the burden on employers and employees gets reduced. Employers’ cost of labour goes down accordingly and employees also get higher take-home salaries.The contribution from employers is reduced to 3.25 per cent from 4.75 per cent, while that from employees is cut to 0.75 per cent from 1.75 per cent. Like the EPF(employee provident fund), ESIC also gets contributions from employers and employees.The Employee’s State Insurance Corporation (ESIC) comes under the purview of the Ministry of Labour and Employment. This was the first act by the government to offer a social security net to the expanding labour class … [Read more...] about Explainer | Reduced contribution towards ESIC to reduce costs for companies, increase take-home salaries for employees
A bittersweet sort of punctuation to the global mourning of South African leader Nelson Mandela came this week with the news of Idris Elba’s Golden Globe nomination for his portrayal of the revolutionary politician in Mandela: Long Walk To Freedom. That film is only the latest mark that Mandela, and the struggles of apartheid-era South Africa, have made on art and pop culture since the 80s (Elba is the fifth actor to portray Mandela in a feature since 2007). advertisement advertisement A much earlier, musical, statement about apartheid in South Africa may have been forgotten among the tributes to Mandela–the song “Sun City,” recorded by Artists United Against Apartheid–but the project was remarkable for the sheer heft of the artists involved and, it turns out, for the ambitions of its creator. The song was recorded shortly after USA For Africa released “We Are The World,” but aside from the fact that both tracks were recorded by a … [Read more...] about Steven Van Zandt Tells The Story Of “Sun City” And Fighting Apartheid In South Africa
The USDA has announced that over 75,000 pounds of salad products are being recalled because the lettuce in the products may be contaminated with E. coli. The products were produced by Missa Bay between October 14, 2019 through October 16, 2019. Most of the products are of the pre-packaged salad type variety and were sold in stores including Sam’s Club, Aldi, and Giant Eagle, reports Consumer Reports. The affected products, though produced in mid-October, have “best buy/use by” dates between October 29, 2019 and November 1, 2019. All the products subject to the recall have an “EST. 18502B” establishment number. The items are known to have shipped to locations in the following states: Alabama, Connecticut, Florida, Georgia, Illinois, Indiana, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia and Wisconsin. Though the … [Read more...] about Serious E. Coli outbreak sparks national salad recall: Here’s the full list of products to avoid