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Insurance claim cannot be denied on the ground of common lifestyle diseases: NCDRC to LIC

Insurance claim cannot be denied on the ground of common lifestyle diseases: NCDRC to LIC

Finance
NEW DELHI: The apex consumer commission has asked LIC India to pay Rs 5 lakh to the kin of a deceased diabetes patient and made clear that insurance claims cannot be denied on the ground of common lifestyle diseases. The National Consumer Disputes Redressal Commission (NCDRC), while setting aside the Punjab state commission's order, asked the Chandigarh branch of the Life Insurance Corporation (LIC) India to pay the sum along with compensation Rs 25,000 and litigation cost Rs 5,000 within 45 days to Punjab-resident Neelam Chopra. Neelam Chopra's husband, who was suffering from diabetes, had availed a life insurance claim in 2003 from the company. While filling the proposal form, he had not mentioned about his disease. He died of a cardiac arrest in 2004. After her husband's death, when she...
FDA expands recall of common heart medication Valsartan

FDA expands recall of common heart medication Valsartan

Health
The U.S. Food and Drug Administration (FDA) is expanding a recall of a common heart medication because it may contain a cancer-causing chemical. Valsartan (brand name Diovan), which is used to treat high blood pressure and heart failure, can be used alone or as a component of other heart medications. Last month, the FDA issued a voluntary recall of certain batches of the drug, but has since expanded its recall two additional times to include more valasartan-containing products. “We have carefully assessed the valsartan-containing medications sold in the United States, and we’ve found that the valsartan sold by these specific companies does not meet our safety standards,” says Dr. Janet Woodcock, director of the FDA’s Center for Drug Evaluation and Research. &ld...
Bacteria extinctions are quite common, study shows

Bacteria extinctions are quite common, study shows

Science
July 30 (UPI) -- Until now, many scientists thought microbes rarely go extinct. But new research suggests bacteria species disappear at surprisingly high rates. According to the latest analysis, when bacteria do go extinct, they fade away. The study, published Monday in the journal Nature Ecology and Evolution, showed bacteria are rarely snuffed out by mass extinction events. Scientists used advanced computer models to simulate microbial evolution over the last few billion years. "Bacteria rarely fossilize, so we know very little about how the microbial landscape has evolved over time," Stilianos Louca, a researcher at the University of British Columbia, said in a news release. "Sequencing and math helped us fill in the bacterial family tree, map how they've diversified over time, and unc...
CDC: E-cigs most common youth tobacco product for 4 straight years

CDC: E-cigs most common youth tobacco product for 4 straight years

Health
June 7 (UPI) -- E-cigarettes were the most common way for U.S. young people to use tobacco for the fourth year in a row in 2017, a new survey from the Centers for Disease Control and Prevention shows. "For the fourth straight year, the National Youth Tobacco Survey (NYTS) found e-cigarettes remain the most commonly used tobacco product among youth," American Lung Association National President and CEO Harold Wimmer said in a statement released Thursday in response to the new survey. The CDC based its data on seven years of voluntary pencil-and-paper surveys self-administered by U.S. middle and high school students. The 2017 survey had a sample size of 17,872 and a response rate of 68.1 percent. Though e-cigarette use, also known as vaping, was also the most common way for youth to consum...
PSBs look to frame common rules to value stressed assets

PSBs look to frame common rules to value stressed assets

Finance
NEW DELHI: The finance ministry is working with state-run lenders to frame a common set of rules for valuation of stressed assets for faster resolution of loans extended by consortia of banks. A senior finance ministry official said a select group of bankers is working to arrive at common rules of valuation. “It has been observed that in cases of joint lending, banks are unable to arrive at a common valuation, which stalls the resolution process. Further, individually, banks also fear that if they agree to a certain haircut, it may not stand the scrutiny of vigilance agencies,” the official said, adding that new norms will address such concerns. The group was formed during ‘PSB Manthan,’ a two-day conclave of PSBs and has representation from all leading banks. A bank executive who is p