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
Pharmacies will soon be flying drugs directly to you. On Monday, UPS announced that it’s partnering with CVS to launch drone delivery for the pharmacy, where drones will carry both prescriptions and other convenience products to people’s homes. UPS is currently working with the Federal Aviation Administration on possible locations for the program. advertisement advertisement The news follows an announcement last week that Walgreens would begin offering drone deliveries in Christiansburg, Virginia, through FedEx and Alphabet’s Project Wing drone airline. The three companies plan to ferry the most rudimentary pharmacy goods such as Band-Aids and Cheez-Its to a population of just over 22,000. For the time being, Walgreens will only deliver over-the-counter medications as well as convenience items like tampons, chips, and ibuprofen. The pharmacy will not be sending prescription drugs through the air—yet. UPS launched its first drone pilot with the … [Read more...] about Drones from CVS and Walgreens are finally here—and they’re bringing Band-Aids
Twitter has been testing its ‘Hide Replies’ feature for quite some time. The company has announced that starting today; all users will be able to hide replies.Twitter had started testing the moderation tool feature on its web and mobile platform. The initial test was limited to Canada in July but was extended to Japan within a couple of months.The company has made some changes in its moderation tool feature. The new feature will allow Twitter users to take further action after hiding a reply like blocking the replier too.Starting today, you can now hide replies to your Tweets. Out of sight, out of mind. pic.twitter.com/0Cfe4NMVPj— Twitter (@Twitter) November 21, 2019Close Twitter stated that while testing the feature, it was observed that people used to hide distracting and irrelevant replies. With the new moderation tool, Twitter wants to give more controls to the tweet author to hide responses from the main conversation that are off-topic. related news … [Read more...] about Twitter now allowing users to ‘Hide Replies’ worldwide