The new rates are based on claims data with the Insurance

The new rates are based on claims data with the Insurance Information Bureau (IIB), an insurance data repository. Secondly, with GIC Re being a listed company, profit is now its motive. Around 60 per cent of corporate covers are renewed on April 1 annually while the remaining get renewed throughout the year.A top insurance broker told FC, "After the non-life insurance sector was detariffed in 2007, insurers competed with each other on rates to gain market share. The same was Rs 1. With huge claims from corporate clients, GIC Re had been suffering and so it identified eight sectors that have huge claims outgo and where the premiums are not sufficient to meet the claims and told the insurers that treaty is available only if they follow IIB rates, which are based on the burning cost (claims outgo) of each sector," added the broker."Said the CEO of an insurance company, "Reinsurers have suffered large catastrophic losses worldwide.As per the circular from GIC Re, all non-life insurance companies will have to add the cost of procurement/management costs to the IIB-identified rates and accordingly quote for their corporate clients.Thus, premium rates have gone up for companies manufacturing rubber goods, plastics, textiles, chemicals below 32 degrees centigrade flashpoint, besides transporters godowns, steel plants and thermal power plants.""Soon after detariffing, many insurers were charging 27 to 28 paise for a sum insured of Rs 1,000 for providing a natural catastrophic cover and 5 paise for FLEXA cover. They were offering 99 per cent discount to corporate clients on the erstwhile tariff rates for FLEXA covers (policy covering fire, lightning explosion/implosion and aircraft insurance) while charging some premium for providing cover for natural catastrophes.""Since GIC Re is the market leader, all China Edge banding Machine Factory insurers have treaty arrangement with GIC Re."Illustrating, the broker, said: "Earlier, the overall premium rate for chemical manufaturers (below 32 degrees centigrade flashpoint) was 27 to 28 paise for a sum insured of Rs 1,000, which is now 268 paise for FLEXA, natural catastrophic and earthquake cover, which translates to a nine-fold rise in insurance cost. This is because the country’s largest reinsurer, General Insurance Corporation of India (GIC Re), has passed an endorsement stating that insurers wanting to utilise its treaty—an arrangement where capital is pooled by various reinsurers to give reinsurance support to insurers—will have to quote higher premium rates for providing covers to certain manufacturing segments.Explaining the impact, another insurance broker said, "For power and pharma companies, the premium rates have gone up three times while for chemical manufactures, where the loss ratios were very high, the rates have gone up nearly nine-fold.Mumbai: After enjoying a decade of low rates, companies buying insurance covers for their plants, machinery and properties are seeing a three- to nine-fold rise in insurance cost from this month."A text message sent to Alice Vaidyan, Chairman and Managing Director of GIC Re did not elicit any response. Now with the new rates, some sanity will prevail in the market. The claims ratio in the eight identified sectors is steep. However, the bad thing is that corporate clients which have a favourable claims ratio too will have to pay a higher premium.25 during the tariff era.

Tamil Nadus share is 13 per cent

A large share of e-waste (more automatic woodworking edge banding machine Factory than 95 per cent) gets channelised to the unorganised sector where small shops adopt rudimentary methods to recover base materials.2 million tonnes of e-waste per year by 2020, up from 2 million tonnes in 2016, according to a recent ASSOCHAM-EY joint study.India is among the top five e-waste generating countries besides China, the United States, Japan and Germany.7 million tonnes of e-waste was generated worldwide in 2016 which is expected to grow at a rate of 3.2 million tonnes per year. Tamil Nadus share is 13 per cent, Uttar Pradesh 10. By 2021, e-waste will rise to 52.New Delhi: India is likely to generate 5.Among the main factors leading to rapid growth of e-waste are digital transformation, social and economic growth, rapid technology advances and dumping of trash by developed countries.8 per cent and Madhya Pradesh 7.15 per cent (CAGR). A long-term exposure to these substances can damage human nervous system, kidneys, bones, reproductive and endocrine systems.E-waste is hazardous as it contains deadly chemicals and metals like lead, cadmium, chromium, mercury, polyvinyl chlorides, brominated flame retardants, beryllium, antimony and phthalates.8 per cent, Delhi 9.5 per cent, Karnataka 8.Electronic waste refers to all items of electrical and electronic equipment which includes general consumer electronics like televisions, computers, laptops, tablets, mobile phones, white goods and industrial grade electronics, such as telecommunication systems, instrumentation systems and electronic machinery.According to the report, 44.Among states, Maharashtra ranks on top with 19.1 per cent, West Bengal 9. Lack of consumer awareness is another reason for e-waste getting into the wrong hands..8 per cent of e-waste generated in the country.9 per cent, Gujarat 8.6 per cent

Chinese products on which the duty was imposed

01.Chinese products on which the duty was imposed include chemicals and petrochemicals, fibres and yarn, machinery items, pharmaceutical, rubber and steel items, he said.87 billion as against USD 76.During April-December 20181-19, imports from China stood at USD woodworking Equipment 53.38 billion in 2017-18. The duty is aimed at ensuring fair trade practices and creating a level-playing field for domestic producers with regard to foreign producers and exporters..As a counter measure, they impose duties under the multilateral regime of the World Trade Organization.The minister also said that the government has been taking continuous and sustained steps to bridge trade deficit by lowering the trade barriers for Indian exports to China.Countries carry out anti-dumping probe to determine whether their domestic industries have been hurt because of a surge in cheap imports.New Delhi: To protect domestic players from cheap imports, India has imposed anti-dumping duty on as many as 99 Chinese products as on January 28 this year, Parliament was informed Monday."As on 28.Various meetings have been held with Chinese counterparts as a part of ongoing efforts to seek market access for various Indian agricultural products, animal feeds, oil seeds, milk and milk products, and pharmaceuticals.2019, anti-dumping duty is in force on 99 products imported from China," Minister of State for Commerce and Industry C R Chaudhary said in a written reply to the Lok Sabha

We are in the conceptual phase of identifying

"We are in the conceptual phase of identifying approaches that could reduce the quantity of spent nuclear fuel without creating proliferation risks - a goal with significant economic and security benefits," NNSA spokesman Dov Schwartz said.The NNSA’s Schwartz said the plans under consideration do not involve reprocessing, but declined to say what technologies could be used.The US Department of Energy’s nuclear security office is developing a project to help other countries handle nuclear waste, an effort to keep the United States competitive against global rivals in disposal technology, according to two sources familiar with the matter.The effort is being led by NNSA Deputy Administrator for Defense Nuclear Nonproliferation Brent Park, a nuclear physicist and former associate lab director at the Energy Department’s Oak Ridge National Laboratory, appointed by President Donald Trump in April.A second technique involves heating radioactive pellets in spent fuel assemblies. But they said they were concerned the processes under consideration could increase the risk of dangerous materials reaching militant groups or nations unfriendly to the United States.US reactor builder Westinghouse, which emerged from bankruptcy in August and is owned by Brookfield Asset Management, hopes to sell nuclear power technology to countries from Saudi Arabia to India, but faces stiff competition from Russia’s state-owned Rosatom."It’s not the volume of the nuclear waste that’s the issue, but the radioactivity and heat it gives off as well as the fact that it remains dangerous for hundreds of thousands of years," he said.(Source).US Energy Secretary Rick Perry visited Saudi Arabia this month for talks on a nuclear energy deal with the kingdom, despite pushback from lawmakers concerned about the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul.The NNSA declined a Reuters request for an interview with Park.The first, called consolidation, reduces the volume of nuclear waste by taking apart spent fuel assemblies and crunching the waste down to two times smaller than the original volume – an approach that is considered costly but which doesn’t add much security risk.The United States is also struggling to support its own nuclear industry at home, with aging reactors shuttering, new projects elusive due to soaring costs, and an ongoing political stalemate over a permanent solution for mounting nuclear waste stockpiles. The process, which gives off gases that must be contained, results in a waste product that has more environmental and health risks. At least one of the techniques poses a security threat, they said.Former President Jimmy Carter banned nuclear waste reprocessing in 1977 because it chemically unlocks purer streams of uranium and plutonium, both of which could be used to make nuclear bombs.The United States produces some 2,000 metric tons of nuclear waste each year, which is currently stored in pools or in steel casks at the nation’s roughly 60 commercial nuclear power plants across 30 states.The Trump administration has made promoting nuclear technology abroad a high priority, as the United States seeks Edge banding Machine Factory to retain its edge as a leader in the industry, amid advancements by other nations like Russia, and France – both of which already offer customers services to take care of waste.Thomas Countryman, the State Department’s top arms control officer during the Obama administration, said the government should make headway on the domestic problem before helping other countries.The federal government designated Nevada’s Yucca Mountain as the sole permanent US nuclear waste repository decades ago to solve the problem, spending about USD 13 billion on the project, but it has never opened due to local opposition.The National Nuclear Security Administration is considering helping other countries by using technologies that could involve techniques such as crushing, heating and sending a current through the waste to reduce its volume, the sources said.The push comes as the United States struggles to find a solution for its own mounting nuclear waste inventories amid political opposition to a permanent dump site in Nevada, proposed decades ago, and concerns about the cost and security of recycling the waste back into fuel."That way you could address a country’s concerns about spent fuel without transferring ownership of the technology to them," said one of the sources.The sources did not name countries to which the service would be marketed, or where the waste would be stored after it is run through the equipment.A third approach called pyroprocessing - developed at the Department of Energy’s Argonne National Laboratory - puts spent fuel in liquid metal and runs an electric current through it.The machinery would be encased in a "black box" the size of a shipping container and sent to other countries with nuclear energy programs, but be owned and operated by the United States, according to the sources, who asked not to be named because of the sensitivity of the matter.The NNSA confirmed a project to help other countries with nuclear waste is underway but declined to provide details.The nuclear community is divided on whether pyroprocessing fits the definition of reprocessing.The sources familiar with the NNSA’s deliberations said there are three basic ways that the physical volume of nuclear waste can be reduced, all of which are costly.Edwin Lyman, a nuclear expert at the Union of Concerned Scientists, said NNSA should be less concerned about volume of waste and more concerned about the dangers that make it hard to store."The primary issue on this front … is not that the US can’t offer a low-volume option to potential buyers; rather it’s that the US still has no option for disposing of its own spent fuel," he said. That reduces volume, but concentrates plutonium and uranium – making it a potential proliferation risk
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