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Apr72021 by adminNo Comments

IRDAI issues draft guidelines on trade credit insurance

Finance

IRDAI on Wednesday proposed a regulatory framework to facilitate general insurance companies to offer trade credit insurance covers to suppliers as well as licensed banks and other financial institutions to help businesses manage country risk. Trade credit insurance protects businesses against the risk of non-payment for goods and services by buyers. It usually covers a portfolio of buyers and indemnifies an agreed percentage of an invoice or invoices that remain unpaid as a result of protracted default, insolvency / bankruptcy. Based on the recommendations of a working group on revisiting guidelines on trade credit insurance, the Insurance Regulatory and Development Authority of India (IRDAI) has now come up with draft guidelines on trade credit insurance. IRDAI said the proposed guidel...

Jan242021 by adminNo Comments

Here are tax issues to consider if you tapped retirement account to weather 2020

Finance

fstop123 | E+ | Getty ImagesIf you pulled money from your 401(k) plan or individual retirement account last year to get through tough times, now is the time to consider next steps.The federal CARES Act that was passed in March 2020 put in place very favorable terms for qualified retirement plan participants under the age of 59½ to tap their nest eggs without incurring the usual 10 percent penalty. Plan participants could withdraw up to $ 100,000 from their accounts and recognize it in income over a three-year period for tax purposes. They were also given three years to replace the withdrawn money to the account without any penalties or taxes owed."My first advice is don't withdraw money from your retirement plan," said Mark Luscombe, principal federal tax analyst for Wolters Kluwer Tax &a...

Dec252020 by adminNo Comments

SolarWinds: Hacked firm issues urgent security fix

Technology

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Nov242020 by adminNo Comments

Interview: Cast says ‘Saved By the Bell’ finds humor in relevant issues

Entertainment

LOS ANGELES, Nov. 24 (UPI) -- Like the original, The Peacock's reimagining of Saved by the Bell uses comedy to raise awareness of issues that teenagers face. The classic series, which aired from 1989 to 1992 and spawned a 1993-2000 spinoff, followed a group of students at Bayside High. The reimagining, which touches on more serious issues, brings back the original cast, now adults, and adds their children as students at Bayside. Advertisement The '90s sitcom presented the comedy through the eyes of Zack Morris (Mark-Paul Gosselaar, who reprises his role). Creator Tracey Wigfield (The Mindy Project, Great News, 30 Rock) presents her Saved By the Bell reimagining through the eyes of students from lower-income Douglas High, who get bussed to Bayside after budget cuts shut down their school. ...

Nov82020 by adminNo Comments

IRDAI issues exposure draft on compensating shareholder on merger of insurers

Finance

NEW DELHI: Regulator IRDAI has come out with draft regulations for determination of compensation to shareholders on merger of insurance companies, under which payment will be based on the residual value of assets. "...compensation to the shareholders whose rights against the acquiring insurer has been reduced...shall be paid based on the residual value of the assets," said the exposure draft on which the Insurance Regulatory and Development Authority of India (IRDAI) has invited comments from the stakeholders by November 20. The residual value, it added, will be equal to the value of the assets of the acquired insurer as on the day immediately before the appointed day, less the total amount of liabilities. Further, the compensation shall be "paid either in cash and/or in kind or partially ...