The exposure of insurance companies to the non-convertible debentures (NCDs) of debt-ridden Dewan Housing Finance (DHFL) will be written off using due process, said the Insurance Regulatory and Development Authority of India (IRDAI) Chairman Subhash Chandra Khuntia.While the exact figure is not publicly available, it is estimated that insurers have around Rs 50-70 crore worth DHFL NCDs. But the identity of these insurers is not known. A structured process of writing the exposure down will be followed in due course.Speaking on the sidelines of an Assocham event on December 6, Khuntia said that the insurance subsidiaries of DHFL have adequate solvency and that there is no cause for concern.Close According to the public documents of DHFL Pramerica Life Insurance, the solvency margin at the end of Q2FY20 stood at 338 percent while that of DHFL General Insurance stood at 230 percent. Regulatory requirement for solvency is 150 percent. related news CIL eases norms for coal … [Read more...] about Insurers’ NCD exposure in DHFL will be written-off: IRDAI Chairman Subhash Chandra Khuntia
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(Adds more detail, quotes, background) By Jan Strupczewski and Francesco Guarascio BRUSSELS, Dec 5 (Reuters) - Euro zone finance ministers reached a deal “in principle” on widening the responsibilities of the European Stability Mechanism, the euro zone bailout fund, but failed to tie off all loose ends or to make progress on a deposit insurance scheme, the group’s chairman said on Thursday, . The reform of ESM is one of the measures for deeper economic integration of the euro zone, along with a miniscule euro zone budget and setting up a European Deposit Insurance Scheme (EDIS). Changes to the ESM treaty are intended to reduce the risk of investors holding out for a better deal in a sovereign debt restructuring and give the bailout fund room to mediate between the sovereign and investors. They would also allow the ESM to lend to the euro zone’s bank resolution fund to wind down failing banks if, in a major bank crisis, the resolution fund runs out of money … [Read more...] about UPDATE 3-ESM reform done in principle, no roadmap for euro zone deposit insurance
Compliancy Group becomes a preferred vendor for HIPAA compliance with the Wyoming Medical Society. As a preferred vendor, Compliancy Group aims to educate and assist Wyoming Medical Society members on the importance of HIPAA compliance. HUNTINGTON, N.Y. (PRWEB) December 06, 2019 COMPLIANCY GROUP is proud to announce that they are now the preferred HIPAA compliance solution for the Wyoming Medical Society. Compliancy Group is dedicated to educating and assisting Wyoming Medical Society’s members on HIPAA compliance. Healthcare entities have an obligation to adhere to the standards set forth by the Health Insurance Portability and Accountability Act (HIPAA). Compliancy Group has created a streamlined process that enables clients to easily create custom HIPAA compliance programs that cover the full extent of the HIPAA regulation. Compliancy Group’s total HIPAA compliance solution, The Guard™, was developed by former HIPAA auditors, giving Wyoming Medical Society members … [Read more...] about Compliancy Group becomes a preferred vendor for HIPAA compliance with the Wyoming Medical Society.
Seven years ago, during a night of rioting in London, a 23-year-old student popped into his local Lidl and carried out the “opportunistic” theft of a £3.50 case of bottled water. He was sentenced to six months in jail. There was an outcry, but he still went to jail. The law was the law. And justice – though punitive and disproportionate – was served. But that was petty crime. What if the crime is bigger? Much bigger. Too big, possibly, to reckon with. Because last week we discovered other laws may have been broken. Not crimes against a person, or a property, but against our democracy. Crimes that may have been committed by the Vote Leave campaign during the EU referendum. On Wednesday, Matthew Elliott, the CEO of Vote Leave, the campaign headed by Boris Johnson and Michael Gove, both now government ministers, took the extraordinary step of leaking the interim report of an Electoral Commission investigation which is still under way. This found the campaign … [Read more...] about Electoral law has been broken – this is a fight for the soul of our democracy
Democratic presidential hopeful and former Vice President Joe BidenJoe BidenTrump to hold campaign rally in Michigan Castro hits fundraising threshold for December debate Buttigieg draws fresh scrutiny, attacks in sprint to Iowa MORE blasted President TrumpDonald John TrumpTrumps light 97th annual National Christmas Tree Trump to hold campaign rally in Michigan 'Don't mess with Mama': Pelosi's daughter tweets support following press conference comments MORE in a new wide-ranging interview, criticizing the president’s tax plans, foreign policy moves and a slate of other policy priorities, saying Trump has ripped the "soul out of this country."Biden told CNBC's John Harwood that Trump has “drastically weakened our standing around the world,” stating that America used to lead the world by “the power of our example.”“This president is the most unusual politician I’ve ever worked with,” Biden said. “And he doesn’t … [Read more...] about Biden: Trump is ‘ripping the soul out of this country’
Good morning, Bay Area. It’s Friday, Dec. 6, and San Francisco Opera has a new creative leader, and one of our writers found an old Market Street idea that’s new again. Here’s what you need to know to start your day. Fighting for expensive insurance When Sean Coffey and his wife, Elizabeth, bought their Oakland hills home in 2015, “it was a scramble” to get insurance. A year later, they got a nonrenewal notice and had to find another insurer. The next year, that company declined to renew. Their third company insured them for two years, then dropped them. So on Thursday, it was in front of Coffey’s house where California Insurance Commissioner Ricardo Lara announced a list of ZIP codes where state-regulated insurance companies will be prohibited from not renewing policies for homes in or adjacent to recent wildfire disaster zones for one year — and called on insurance companies to do more. Read more from Kathleen Pender. S.F. Opera’s new … [Read more...] about Bay Briefing: Three times insured, three times dropped