Indemnity Insurance – As Travel OFFL http://astraveloffl.com/ Mon, 21 Jun 2021 20:26:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://astraveloffl.com/wp-content/uploads/2021/04/cropped-icon-32x32.png Indemnity Insurance – As Travel OFFL http://astraveloffl.com/ 32 32 June-July risk management calendar: No holidays https://astraveloffl.com/june-july-risk-management-calendar-no-holidays/ https://astraveloffl.com/june-july-risk-management-calendar-no-holidays/#respond Mon, 21 Jun 2021 18:00:22 +0000 https://astraveloffl.com/june-july-risk-management-calendar-no-holidays/ Dairy risk management doesn’t take vacations, although it can take federal vacations. Here is an overview of the current conditions and the risk management schedule for the early summer of Progressive dairy products. Dairy Market News: Milk Supply The USDA has delayed the release of the May Milk Production Report until last weekend due to […]]]>


Dairy risk management doesn’t take vacations, although it can take federal vacations. Here is an overview of the current conditions and the risk management schedule for the early summer of Progressive dairy products.

Dairy Market News: Milk Supply

The USDA has delayed the release of the May Milk Production Report until last weekend due to the new federal holiday on June 15. Check back later for a summary to be released Monday afternoon, June 21. Due to the report’s delay, Dairy Revenue Protection (Dairy-RP) coverage will not be available after markets close on June 21.

According to the USDA Dairy market news for the week ending June 18, the northeast milk supply is fairly stable in the northeast and the mid atlantic milk production is stable. Class I sales are stable to slightly lower. Although the school year is over, local dining programs are available for the summer.

Milk production in the Southeast continues to decline. Class I sales are somewhat mixed, with some bottlers ordering additional milk supplies for their immediate needs, while others have reduced milk loads.

In the Midwest, milk supplies for the spring hunt have lasted all season, even with a noticeable increase in temperatures in recent weeks. Finding takers for extra milk has been daunting. Last year’s milk spot prices were 75 cents to $ 2 compared to Class III, compared to-$ 6 to – $ 4 under Class III for the week ending June 18.

Western milk supplies remain plentiful. The transportation problems plaguing the country, including significant shortages of freight and tankers, are worse in the West. Central California has been warned of potential water cuts, and more widespread cuts are expected. USDA contacts report that, so far, June production tends to increase year over year and decline slightly from last month.

Milk production in the Pacific Northwest is strong but starting to decline in some areas, following typical seasonal patterns. Overbase programs are in place to help control the milk supply.

Dairy margins weaken from June

Dairy margins continued to deteriorate through the first half of June, as continued weakness in milk prices more than offset the impact of stable to weaker feed markets, according to Raw Material and LLC Ingredient Coverage. While demand for dairy products remains quite strong in domestic and export markets, increased milk production is putting pressure on prices. The recent intense heat in the western and northern plains may begin to moderate milk production throughout the summer.

Click here or on the calendar above to see it in full size in a new window.

Risk management options

  • Milk-RP: Dairy-RP coverage is generally available for milk produced four or five quarters in the future. Dairy-RP is available daily except statutory holidays and USDA reporting days which may impact the markets (see calendar). Dairy-RP is also not available on days when applicable futures contracts increase or decrease the limit.
  • LGM-Dairy: The last scheduled monthly sales period for Livestock Gross Margin for Dairy Products (LGM-Dairy) is Friday June 25th. With the new crop insurance year starting July 1, LGM-Dairy’s sales are shifting to weekly. The price discovery period for LGM-Dairy is Tuesday through Thursday of each week. LGM-Dairy factors are calculated using the average closing prices of Chicago Mercantile Exchange (CME) Class III milk, corn and soybean meal futures on those days. The policy sales period will begin Thursday at 4:30 p.m. and end at 9:00 a.m. (2:00 a.m. Central Time) on Friday. Unlike Dairy-RP, which is not available on the day of major USDA dairy reports (milk production, cold storage, or dairy), LGM-Dairy is available weekly, even if a sales window falls. the day of a USDA report. Coverage is available for 12 months, excluding the first month. You must select coverage in two month increments to obtain a premium grant from the USDA Risk Management Agency (RMA). Subsidized premiums range from 18% to 50%. For example, a zero deductible policy has an 18% premium subsidy. A deductible of 50 cents per cwt has a subsidy of 28% and the deductible of $ 1 per cwt (cwt) has a subsidy of 48%. Premiums are due at the end of the coverage period. There are no transaction fees.

LGM-Dairy and Dairy-RP insurance policies are sold and issued only through private crop insurance agents. A list of crop insurance agents is available online using the RMA Agent Locator.

DMC Update 2021

The USDA will release the May 2021 Dairy Margin Coverage (DMC) program and potential indemnification payments on June 30. Until April, DMC compensation payments had been distributed each month of 2021, totaling $ 446.1 million as of June 7. Agriculture Secretary Tom Vilsack has announced additional details regarding USDA pandemic financial assistance for dairy farmers to be implemented within 60 days. The announcement included a mention of the long-awaited DMC additional payments for small and medium-sized producers.

A COVID-19 relief bill signed late last year included language directing the USDA to allow smallholder dairy farmers to update their historical milk production credentials and receive an additional DMC payment on a portion of any increase in milk production, up to the Level I cap of 5 million pounds of milk per year. According to the USDA, the expense for additional DMC payments is approximately $ 580 million. It is expected that the additional payments to eligible producers will be retroactive to January 2021 and end at the end of 2023.

Other resources

  • The CDE “Protecting Your Profits” webinar will take place on June 23. Although Class III milk futures prices have declined since last month, Dairy-RP still deserves consideration, according to Zach Myers, head of risk education at the Pennsylvania Center for Dairy Excellence (CDE). . He will discuss market volatility and risk management strategies in his monthly “Protect Your Profits” webinar on June 23, starting at noon (Eastern Time). Jud Heinrichs, dairy nutritionist at Penn State University, will also discuss managing high feed costs. Prior registration is not necessary. To participate in the webinar, click here or by phone: (646) 558-8656. When prompted, enter Meeting ID 848 3416 1708 and Passcode 474057.
  • Farm Credit East will host its “2020 Dairy Farm Summary & 2021 Mid-Year Dairy Outlook” webinar on June 23 starting at 11 a.m. (Eastern Time). Chris Laughton, editor of the report, will review and discuss the year that has been for dairy. Going forward, Jeremy Forrett, Director of Crop Growers LLP, will discuss risk management options for current market conditions, and finally, Catherine de Ronde of Agri-Mark will present a price and market outlook for the latter. semester 2021. Click here for registration information.
  • Marin Bozic, dairy economist at the University of Minnesota, provided a milk and feed market outlook webinar with Northwest Farm Credit Services in early June.
  • Find a summary of Rabobank’s Global Dairy Quarterly here. end mark
Dave natzke



Source link

]]>
https://astraveloffl.com/june-july-risk-management-calendar-no-holidays/feed/ 0
Jamoh launches campaign to end war risk insurance on shipments to Nigeria https://astraveloffl.com/jamoh-launches-campaign-to-end-war-risk-insurance-on-shipments-to-nigeria/ https://astraveloffl.com/jamoh-launches-campaign-to-end-war-risk-insurance-on-shipments-to-nigeria/#respond Sun, 20 Jun 2021 21:58:31 +0000 https://astraveloffl.com/jamoh-launches-campaign-to-end-war-risk-insurance-on-shipments-to-nigeria/ Amid the decline in the incidence of piracy in Nigerian waters and the Gulf of Guinea since February, when the Nigerian Maritime Administration and Security Agency (NIMASA) deployed the Integrated Security Infrastructure National Waterways Protection and Protection Agency, known as the Deep Blue Project, the Managing Director of Nigerian Maritime Administration and Security Agency (NIMASA), […]]]>


Amid the decline in the incidence of piracy in Nigerian waters and the Gulf of Guinea since February, when the Nigerian Maritime Administration and Security Agency (NIMASA) deployed the Integrated Security Infrastructure National Waterways Protection and Protection Agency, known as the Deep Blue Project, the Managing Director of Nigerian Maritime Administration and Security Agency (NIMASA), Dr Bashir Jamoh expressed concern over the continued insurance against the risks of war on cargoes bound for Nigeria, calling for its abolition.

This came as it was revealed that Nigeria’s maritime trade is at risk, to say the least, due to the increase in war risk insurance premiums currently being paid by ships bound for Nigeria.

Although, according to Dr Jamoh, piracy in Nigerian waters is on the decline, industry stakeholders fear that offshore underwriting companies still insist that very high premiums be paid by those transporting cargo to the United States. Nigeria.



Source link

]]>
https://astraveloffl.com/jamoh-launches-campaign-to-end-war-risk-insurance-on-shipments-to-nigeria/feed/ 0
Texas judges say motorist can dismiss insurer employees https://astraveloffl.com/texas-judges-say-motorist-can-dismiss-insurer-employees/ https://astraveloffl.com/texas-judges-say-motorist-can-dismiss-insurer-employees/#respond Sat, 19 Jun 2021 01:53:00 +0000 https://astraveloffl.com/texas-judges-say-motorist-can-dismiss-insurer-employees/ Law360 (June 18, 2021, 9:53 p.m. EDT) – The Texas Supreme Court on Friday allowed a motorist to dismiss his insurer’s employees for liability and damages alleged in his auto accident insurance claim, saying contentious matters are discoverable while questions about the language of the police contract are not. The state’s high court said the […]]]>


Law360 (June 18, 2021, 9:53 p.m. EDT) – The Texas Supreme Court on Friday allowed a motorist to dismiss his insurer’s employees for liability and damages alleged in his auto accident insurance claim, saying contentious matters are discoverable while questions about the language of the police contract are not.

The state’s high court said the USAA General Indemnity Co. had failed to demonstrate that the deposition would be cumbersome and delay the litigation process. But the judges said the trial court abused its discretion by allowing the insured to remove the carriers’ employees on any issues he proposed.

The insured has the right to have USAA personnel testify on …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific case articles and topics and more!

TRY LAW360 FREE FOR SEVEN DAYS



Source link

]]>
https://astraveloffl.com/texas-judges-say-motorist-can-dismiss-insurer-employees/feed/ 0
Lonmar Professions Appoints Divisional Director of Gallagher | Latest news https://astraveloffl.com/lonmar-professions-appoints-divisional-director-of-gallagher-latest-news/ https://astraveloffl.com/lonmar-professions-appoints-divisional-director-of-gallagher-latest-news/#respond Fri, 18 Jun 2021 07:56:28 +0000 https://astraveloffl.com/lonmar-professions-appoints-divisional-director-of-gallagher-latest-news/ Financial lines firm Lonmar Professions, part of brokerage firm Lloyd’s Lonmar, owned by GRP, has appointed Sean Trent as division manager, effective June 2021. Trent, who has 30 years of industry experience, first started his insurance career at Lucas Fettes and Partners as Director of the Equity Board and Group Head of Professional and Financial […]]]>


Financial lines firm Lonmar Professions, part of brokerage firm Lloyd’s Lonmar, owned by GRP, has appointed Sean Trent as division manager, effective June 2021.

Trent, who has 30 years of industry experience, first started his insurance career at Lucas Fettes and Partners as Director of the Equity Board and Group Head of Professional and Financial Lines. This business was later bought by Stackhouse Poland in 2017 – Trent remained with the business after the acquisition.

In 2019, Stackhouse Poland was in turn acquired by Gallagher, where Trent then led the Profin team within its retail division in London before accepting the position at Lonmar Professions.

In his new role, Trent will work alongside Lonmar Professions Managing Director Alan Newall and his team.

Speaking of the appointment, Newall said, “Sean’s appointment underscores our commitment to grow both the retail and wholesale business for professional compensation, cyber, management liability, medical malpractice and related fields.

“In today’s tough market, however, there are good opportunities for growth if we take the right approach.

“Sean brings with him a tremendous amount of experience and excellent relationships with the market and retail and he adds significantly to the strength of our team.”

Ambitious growth plans

Lonmar Professions specializes in professional liability insurance for a wide range of professions and trades, including accountants and surveyors.

The company also offers risk placement facilities to UK regional brokers through its parent company Global Risk Partners (GRP) and its Hedron Networks division, which it bought in May from Marsh UK.

Trent added, “It’s great to work with Alan and his team, whom I already know well from my previous placements in the market.

“My main focus will be on the retail side and I really look forward to working with such a valued and experienced unit and playing my part in delivering our ambitious growth plans. “

Lonmar was formed in August 2018 after the merger of Lonmar Global Risks and Ropner Insurance Services following their acquisition by GRP in 2016 and 2015 respectively.

The company now has a global customer base in 70 countries and provides access to specialist underwriters and insurance capacity in London and other leading markets. worldwide.



Source link

]]>
https://astraveloffl.com/lonmar-professions-appoints-divisional-director-of-gallagher-latest-news/feed/ 0
2021-28 Professional Liability Insurance Market Company Analysis | Allianz, Tokio Marine Holdings, XL Group – KSU https://astraveloffl.com/2021-28-professional-liability-insurance-market-company-analysis-allianz-tokio-marine-holdings-xl-group-ksu/ https://astraveloffl.com/2021-28-professional-liability-insurance-market-company-analysis-allianz-tokio-marine-holdings-xl-group-ksu/#respond Thu, 17 Jun 2021 07:17:32 +0000 https://astraveloffl.com/2021-28-professional-liability-insurance-market-company-analysis-allianz-tokio-marine-holdings-xl-group-ksu/ the Professional liability insurance market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2021-2028 report provides professional liability insurance market analysis for the period 2021-2028, where 2020 to 2028 is the forecast period and 2019 is taken into account because the base year. The information of the Professional Liability Insurance report for 2016 […]]]>


the Professional liability insurance market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2021-2028 report provides professional liability insurance market analysis for the period 2021-2028, where 2020 to 2028 is the forecast period and 2019 is taken into account because the base year. The information of the Professional Liability Insurance report for 2016 has been attached as historical information and 2028 forecast. The report covers all the trends and technologies that play an important role in the growth of the Japanese liability insurance market professional calendar throughout the forecast period. It highlights the drivers, restraints, and opportunities that are expected to influence the expansion of the market throughout this era. The Professional Liability Insurance study report provides a holistic perspective of the market growth in terms of revenue and volume in completely different countries. The Professional Liability Insurance Market report highlights key trends shaping the market on a global scale.

Free Sample Report 2021 Professional Liability Insurance Market: https://calibreresearch.com/report/global-professional-indemnity-insurance-market-113385#request-sample

NOTE: The Professional Liability Insurance market research includes the analysis of the impact of COVID-19 on this industry. Our new sample is updated to match the new report showing the impact of Covid-19 on trends in the professional liability insurance industry. Also we are offering 20% ​​discount

The report analyzes and forecasts the professional liability insurance market on a global and regional level. The report additionally contains narrow value chain analysis which provides a comprehensive reading of the global professional liability insurance market. Porter’s 5 Forces Model has been joined to help perceive the competitive landscape in the professional liability insurance market in Japan. The study includes a market attractiveness analysis, in which the end users’ area unit compared supported the size, growth rate and overall attractiveness of their professional liability insurance market.

The major market players included in this report are:

Chubb (ACE)
AIG
Hiscox
Allianz
Tokio Marine Holdings
Group XL
AXA
Travelers
Assicurazioni Generali
Society of Doctors
Marsh & McLennan
Mutual Freedom
Medical Protective
Aviva

2021 Professional Liability Insurance Market Segments by Product Types:

Medical indemnity insurance
Lawyers compensation insurance
Construction and Engineering Compensation Insurance
Other indemnity insurance

The application of the global professional liability insurance market 2021-2027 as follows:

Up to $ 1 million
$ 1 million to $ 5 million
$ 5 million to $ 20 million
Over $ 20 million

Global Professional Liability Insurance Market Regional segmentation

• North American professional liability insurance market (United States, Canada and Mexico)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• European professional liability insurance market (Germany, France, United Kingdom, Russia and Italy)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)
• Professional liability insurance market in South America (Brazil, Argentina, Colombia, etc.)
The market report provides the competitive landscape of the market and a corresponding elaborate analysis of the major vendors / key players in the market. This report is divided into four distinct sections. the first half consists of the introduction to the world market of professional liability insurance. The following section includes global marketing research and forecast by material type, applications, end-use industry, and region. The final section of the report highlights the competitive landscape of the global Japan Professional Liability Insurance Market and provides the list of key players operating during this lucrative market.

Complete Professional Liability Insurance Market Report for Better Understanding: https://calibreresearch.com/report/global-professional-indemnity-insurance-market-113385#request-sample

study offers information regarding the business profiles of all the companies mentioned. the information associated with the product manufactured in the factory by the companies is provided in the professional liability insurance report. Details regarding the application as well as the specifications of the unit area of ​​goods inculcated in the professional liability insurance report. Information associated with business expansion margins, production expenses and product prices is provided in the Professional Liability Insurance report. The analysis of the regional average rating for the year 2021 is also mentioned here. Information regarding the value chain analysis of the global professional liability insurance market is also provided in this section of the report.

Contact us:

CALIBER SEARCH
Email: sales@calibreresearch.com
Website: https://calibreresearch.com
Address: 3626 North Hall Street (Two Oak Lawn), Suite 610, Dallas, TX 75219 USA.



Source link

]]>
https://astraveloffl.com/2021-28-professional-liability-insurance-market-company-analysis-allianz-tokio-marine-holdings-xl-group-ksu/feed/ 0
Peach Pi launches insurance product for health and wellness SMEs https://astraveloffl.com/peach-pi-launches-insurance-product-for-health-and-wellness-smes/ https://astraveloffl.com/peach-pi-launches-insurance-product-for-health-and-wellness-smes/#respond Wed, 16 Jun 2021 05:26:10 +0000 https://astraveloffl.com/peach-pi-launches-insurance-product-for-health-and-wellness-smes/ Peach Pi, an insurance company that offers niche coverage products, offers tailor-made insurance coverage for the self-employed and SMEs operating in the health and wellness industry. The new offering, through a partnership between Peach Pi and the managing general agent Tapoly, includes coverage for professional liability, civil liability and treatment risk. It also has an […]]]>


Peach Pi, an insurance company that offers niche coverage products, offers tailor-made insurance coverage for the self-employed and SMEs operating in the health and wellness industry.

The new offering, through a partnership between Peach Pi and the managing general agent Tapoly, includes coverage for professional liability, civil liability and treatment risk. It also has an option to include employers’ liability.

“We are constantly monitoring the needs of our clients to ensure that we continue to provide new and innovative flexible commercial insurance products,” said Tapoly Founder Janthana Kaenprakhamroy (pictured above).

Kaenprakhamroy said Tapoly had identified a number of specialist and niche professions in the health and wellness industry that would value the option of purchasing insurance online; these professions included art therapists and even Zumba instructors. Tapoly then approached Peach Pi to develop a solution, Kaenprakhamroy said, because the insurer has “a real understanding of both the health and wellness industry and the specific needs of our customers.”

Allison Hughes, Peach Pi Distribution Manager

“We created Peach Pi to work collaboratively with like-minded insurance professionals. We are therefore delighted to partner with Tapoly to deliver a bespoke product that will meet the unique requirements of this specific set of community professionals, ”said Allison Hughes, Peach Pi Distribution Manager (pictured above). “Our in-house team of qualified claims adjusters will work closely with Tapoly to provide their clients with the level of service they deserve to protect and strengthen their business ambition. “

The new product is available online via the Tapoly technology platform. In addition to coverage, customers can also access Peach Pi’s claims service as part of the health and wellness insurance solution.

Read more: Peach Pi Launches Accountability Product For Freelancers

Peach Pi previously introduced a similar insurance product for the self-employed and SMEs in the lifestyle industry in March. The product is available via the Acturis platform for brokers.



Source link

]]>
https://astraveloffl.com/peach-pi-launches-insurance-product-for-health-and-wellness-smes/feed/ 0
Construction and manufacturing sectors among the main users of credit to cover insurance costs – Premium Credit | Latest news https://astraveloffl.com/construction-and-manufacturing-sectors-among-the-main-users-of-credit-to-cover-insurance-costs-premium-credit-latest-news/ https://astraveloffl.com/construction-and-manufacturing-sectors-among-the-main-users-of-credit-to-cover-insurance-costs-premium-credit-latest-news/#respond Tue, 15 Jun 2021 07:31:11 +0000 https://astraveloffl.com/construction-and-manufacturing-sectors-among-the-main-users-of-credit-to-cover-insurance-costs-premium-credit-latest-news/ The construction and manufacturing industries have been among the top sectors to rely on credit to pay for their insurance, according to the latest research from Premium Credit. The premium finance provider’s latest analysis for 2019 and 2020 found that construction companies accounted for 8% of all premium credit net advances in 2020, while manufacturing […]]]>


The construction and manufacturing industries have been among the top sectors to rely on credit to pay for their insurance, according to the latest research from Premium Credit.

The premium finance provider’s latest analysis for 2019 and 2020 found that construction companies accounted for 8% of all premium credit net advances in 2020, while manufacturing accounted for 7% of advances.

Next are the transportation, professional, scientific, retail and wholesale sectors – these five industries together accounted for nearly 31% of all net advances.

Owen Thomas, Director of Sales and Marketing at Premium Credit, said: “The cost of commercial insurance has increased dramatically and that, coupled with the fact that many businesses saw their cash flow deteriorate during the coronavirus crisis, means more of them are using credit to pay for their coverage.

“This is reflected in the fact that the amount of premium funding we provided to businesses last year was 11% higher than in 2019.”

Underinsurance

The most recent research from the premium finance provider reveals the impact of underinsurance, with 9% of businesses sustaining property or property damage because they were unable to make a claim. reason for not having insurance or being underinsured.

However, last October, the Premium credit Insurance index found that 51% of SMEs had stopped paying for a range of business insurance policies, such as employer liability, business property coverage, professional liability and cybersecurity.

As a result, the average losses were around £ 2,000.

The latest data from Premium Credit also revealed that SMEs are increasingly borrowing to pay for their insurance, with total net advances for premium financing increasing by more than 11% in 2020 compared to 2019, while the number of fonts only increased slightly.

This is supported by independent online research conducted by Consumer Intelligence, which interviewed 291 SME owners and managers between April 1-3, 2021.

It found that nearly one in four SME owners and managers who use credit increased the amount they borrowed over the past year, to an average additional credit of £ 1,300.

Meanwhile, 73% of SME bosses who used credit to pay for their insurance said the Covid-19 pandemic was their main reason for borrowing, although premium increases were also blamed by 36% of companies.

Percentage of SMEs that rely on credit to purchase insurance and what insurance policies they have purchased

Source: premium credit

Insurance Percentage of SMEs that use credit to purchase insurance – what coverage have they purchased?

Car insurance

75%

Home Insurance

52%

Employer liability insurance

30%

Business interruption insurance

26%

Cyber ​​insurance

22%

Key man insurance

17%

Insurance of directors and officers

ten%



Source link

]]>
https://astraveloffl.com/construction-and-manufacturing-sectors-among-the-main-users-of-credit-to-cover-insurance-costs-premium-credit-latest-news/feed/ 0
ESB and NSE suspend trading in DHFL shares https://astraveloffl.com/esb-and-nse-suspend-trading-in-dhfl-shares/ https://astraveloffl.com/esb-and-nse-suspend-trading-in-dhfl-shares/#respond Mon, 14 Jun 2021 05:54:11 +0000 https://astraveloffl.com/esb-and-nse-suspend-trading-in-dhfl-shares/ Image source: PTI (FILE) ESB and NSE suspend trading in DHFL shares Major BSE and NSE exchanges will suspend trading in Dewan Housing Finance Corporation Ltd (DHFL) shares effective Monday. This decision, aimed at avoiding “market complications”, comes in the context of the approval by the National Court of Company Law (NCLT) of Piramal Group’s […]]]>


Image source: PTI (FILE)

ESB and NSE suspend trading in DHFL shares

Major BSE and NSE exchanges will suspend trading in Dewan Housing Finance Corporation Ltd (DHFL) shares effective Monday.

This decision, aimed at avoiding “market complications”, comes in the context of the approval by the National Court of Company Law (NCLT) of Piramal Group’s resolution plan for the bankruptcy of DHFL. The resolution plan under the Insolvency and Bankruptcy Code (IBC) was approved by the court on June 7.

In separate but similarly worded circulars published on Friday, BSE and NSE said they would suspend trading in DHFL shares effective June 14.

The approved resolution plan provides for the delisting of the company’s shares.

In accordance with the circulars, the company made an announcement on June 9, stating that “no value was attributable to equity shares according to the liquidation value of the company estimated by the registered appraisers appointed by the Indian Insolvency Board. and Bankruptcy (Insolvency Resolution Process for Legal Persons) Regulations, 2016 ”.

According to the circular published by the ESB, “to avoid market complications, trading in the securities of Dewan Housing Finance Corporation Limited will be suspended on June 14, 2021”.

In November 2019, the Reserve Bank of India (RBI) referred DHFL – then the third-largest pure-play mortgage lender – for resolution under the IBC. It was the first financial company to be referred to the NCLT by RBI using special powers under Section 227 of the IBC.

Latest business news

Read the original article here

Disclaimer! Toysmatrix is ​​an automatic aggregator around global media. All content is available free on the Internet. We just organized it into one platform for educational purposes only. In each content, the hyperlink to the main source is specified. All trademarks are the property of their rightful owners, all documents are the property of their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by E-mail – [email protected]. Content will be removed within 24 hours.



Source link

]]>
https://astraveloffl.com/esb-and-nse-suspend-trading-in-dhfl-shares/feed/ 0
Theaters set the stage for state-backed insurance plan https://astraveloffl.com/theaters-set-the-stage-for-state-backed-insurance-plan/ https://astraveloffl.com/theaters-set-the-stage-for-state-backed-insurance-plan/#respond Sun, 13 Jun 2021 14:30:00 +0000 https://astraveloffl.com/theaters-set-the-stage-for-state-backed-insurance-plan/ The greats of the theater are said to be on the verge of making a deal with the government for a state-backed insurance scheme allowing performances to take place. Top West End figures have a tentative deal with Culture Secretary Oliver Dowden for a taxpayer-backed compensation package, the Sunday Telegraph reported. The plans have now […]]]>


The greats of the theater are said to be on the verge of making a deal with the government for a state-backed insurance scheme allowing performances to take place.

Top West End figures have a tentative deal with Culture Secretary Oliver Dowden for a taxpayer-backed compensation package, the Sunday Telegraph reported.

The plans have now been forwarded to the Treasury, which will await Boris Johnson’s announcement on Covid restrictions tomorrow before giving the green light.

Sources told the newspaper that similar insurance plans will be offered to cover shows, concerts and music festivals.

A group of well-known theater leaders have reportedly been in talks with officials for more than a year to secure a government-backed insurance plan.

Lack of insurance has been a major obstacle to restarting live events in the UK, with Covid-related coverage effectively unavailable in the open market.

The industry has been pushing for the launch of a government-backed program, similar to that put in place for the film and television sector, to ensure events can take place.

According to the report, the program will guarantee ticket revenue if theaters or other events have to close due to a Covid outbreak within the production team or a new wave of restrictions.

Ministers were told that insurance covering the West End and major regional touring theaters would cost around £ 179million over the next year.

It is not known how much the program would cost for other live events.

The move comes after Andrew Lloyd-Webber said he was ready to be arrested to reopen his shows in London later this month.

Under the government’s roadmap to ease the lockdown, all restrictions were to be lifted from June 21, but ministers are now expected to delay this step for up to a month.

Liverpool Circus Nightclub - Mass Assistance Pilot

The alleged delay also angered bosses and hotel managers in the hard-hit nightlife sector.
City AM last week revealed that some UK nightclubs are planning to open their doors from June 21, regardless of the government’s decision on the restrictions.





Source link

]]>
https://astraveloffl.com/theaters-set-the-stage-for-state-backed-insurance-plan/feed/ 0
The curtain rises on state bailout for theaters https://astraveloffl.com/the-curtain-rises-on-state-bailout-for-theaters/ https://astraveloffl.com/the-curtain-rises-on-state-bailout-for-theaters/#respond Sat, 12 Jun 2021 18:00:00 +0000 https://astraveloffl.com/the-curtain-rises-on-state-bailout-for-theaters/ It will guarantee ticket revenue if theaters have to close due to an outbreak within the production team or a new wave of Covid restrictions, meaning companies can continue to schedule shows without fear of massive losses. Private insurance is almost impossible to find due to the uncertainty caused by the pandemic. The fate of […]]]>


It will guarantee ticket revenue if theaters have to close due to an outbreak within the production team or a new wave of Covid restrictions, meaning companies can continue to schedule shows without fear of massive losses. Private insurance is almost impossible to find due to the uncertainty caused by the pandemic.

The fate of the theaters came into the limelight this week after Andrew Lloyd-Webber said he was ready to be shut down to open four days after June 21, which had been dubbed Freedom Day. Ministers are now expected to delay the return to normal for another month.

Lord Lloyd-Webber said: “We will open, through thick and thin.”

These remarks are believed to have frustrated theater figures involved in the negotiations.

A source said: “I don’t know of anyone else who has taken this position. We are very aware of the volatility of public opinion at the moment. We can see that Andrew is planning to do his shows no matter what. He doesn’t expect insurance.

Ministers were told that insurance covering the West End and major regional touring theaters would cost around £ 179million over the next year.

Since shows are generally broadcast over a relatively short period of time, any interruptions make them vulnerable to significant losses. Usually, lenders would buy insurance to cover such an eventuality. However, the insurance market is largely reluctant to protect businesses from the economic fallout of the pandemic.

The government’s compensation will be similar to that offered to film production companies last September, insiders said.

Bosses estimated that the theater industry was at risk of missing 90% of sales if the program did not take place.



Source link

]]>
https://astraveloffl.com/the-curtain-rises-on-state-bailout-for-theaters/feed/ 0