VIEW: Increase in FDI limits leading to transformation of Insurance industry in India

Andreas Milano

The Insurance (Amendment) Bill, 2021, which seeks to amend the Insurance Act, 1938 and increase the foreign investment cap in Indian insurers from 49 percent to 74 percent has now been passed by both the houses of the Indian parliament.

The liberalization of foreign investment in the Indian insurance sector has been a subject of much debate for over a decade. In 2015, the sector was opened up substantially, when the FDI limit was increased from 26 percent to 49 percent. At the same time, the Government also introduced the ‘Indian Owned and Controlled’ requirement, which meant that the foreign

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Berea construction company says new hires aren’t showing up for work

Andreas Milano

LEXINGTON, Ky. (WKYT) – The pandemic has been hard enough on Devere Construction, and now hiring is proving to be another challenge.

“We’ve tried to hire people since December,” said Shannon Devere, president of Devere Construction.

Devere said there’s no shortage of applications, or hires, but the problem is that those people never actually show up for the first day.

“Most people are even giving me their information, all their Social Security numbers, and all that stuff and we’re spending the time filling it all out and getting them ready for taxes and everything and they’re not even showing up,”

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Corporations Are Not Friends, People

Andreas Milano

Although McConnell quickly and unconvincingly tried to walk his comments back (“I didn’t say that very artfully,” he said Wednesday. “They’re certainly entitled to be involved in politics”), it’s clear that his original view is gaining sway among Republicans. Governor Brian Kemp of Georgia called Major League Baseball’s decision to move the All-Star Game from Atlanta “cancel culture,” while Lieutenant Governor Dan Patrick of Texas was blunter.

“You’ve meddled in a lot of issues lately … Stay out of things you don’t know anything about, and if you want to get involved,

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What I’ve learned from working in insurance

Andreas Milano

My main challenge when I started at Insurance Business was wrapping my head around the complexities of this sector. While I had a background in business journalism, I had never focused in on the insurance space so intently, and knew very little about it, besides what I gleaned from buying auto and renters’ insurance. Suddenly, I was writing articles on personal and commercial lines, as well as reinsurance and all of the other developments that touch this industry – my first two articles were about the aftermath of the 2017-18 US wildfire season, and a tribute to a Canadian insurance

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Square Crypto’s New Grant Funds Popular Bitcoin Blockchain Explorer

Andreas Milano

Square Crypto and Gemini have doled out yet another grant, this time to two pseudonymous developers who maintain one of the most popular Bitcoin block explorers.

Pseudonymous Bitcoiners Wiz and softsimon will receive $100,000 from Square Crypto and $25,000 from Gemini to continue their work on the website. The two-man team will take the one-year grant in bitcoin.

Grants like these have become more ubiquitous over the past year as Bitcoin and crypto companies step up to the plate to fund projects that typically subsist on donations and volunteer work. In an open-source, distributed world like Bitcoin, these grants

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State College-Based Construction Company Accused Of Stealing Millions In Wages

Andreas Milano

Glenn O. Hawbaker Inc., a State College-based construction company, was accused Thursday of allegedly stealing more than $20 million in wages from its employees, according to Pennsylvania Attorney General Josh Shapiro.

Shapiro said the charges come after a three-year investigation into Hawbaker’s business practices. In a statement, the attorney general claimed it’s the largest prevailing wage criminal case in state history.

Hawbaker was awarded $1.7 billion

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