HealthNow allowed to raise insurance rates an average of 11.68%

State insurance regulators on Friday approved rate hikes for two more health insurers — including Buffalo-based Health- Now New York — but sharply reduced what the carriers had originally requested.

HealthNow, parent of Blue- Cross BlueShield of Western New York, will be able to raise its rates between 1.6 percent and 19.8 percent. That’s down from its request of a maximum increase of 28.6 percent.

Across the entire company, the weighted average rate increase is 11.68 percent, with most members seeing increases ranging from 10 percent to 15 percent, said Lou Felice, chief of the New York state Insurance Department’s Health Bureau.

Cabinet Gives the Nod to Health Insurance Scheme for Street Vendors

The Union Cabinet has approved the extension of Rashtriya Swasthya Bima Yojana (RSBY),the health insurance scheme for street vendors.

The RSBY scheme, which presently extends to Below Poverty Line (BPL) families (a unit of five) is smart card based cashless health insurance scheme.

ISS Facility Services acquires Godrej HiCare

ISS Facility Services India Pvt. Ltd. (ISS) announces the acquisition of Godrej HiCare Ltd. (GHCL), a subsidiary of Godrej Industries.

Godrej HiCare is the leading service provider for pest control services in India and its acquisition grants ISS access to an extensive network and franchise base built by the Godrej HiCare across 18 cities. With this acquisition, Godrej HiCare will become a wholly owned subsidiary of ISS and will be integrated into the ISS brand. 

Commenting on the acquisition, Mr. Jolly Kochery, Country Manager, ISS Facility Services India Pvt Ltd. said, “We are pleased to announce the acquisition of Godrej HiCare as it is a strategic fit to our existing service portfolio. This acquisition will not only help us to fortify our presence in the Facility Service industry but will also help realize our vision of becoming the number one player in this segment. Despite the economic downturn, we feel that the Godrej HiCare business model has great intrinsic strength and will help us achieve our strategic objectives. Our international standards, global best practices and excellence in service delivery will ensure that we are well geared to meet the expectations of current and potential clients alike.”

Life insurance business gets affected due to new ULIP rules

The Insurance Regulatory and Development Authority's new norms for unit-linked insurance plans (Ulips) have affected the business of life insurance firms. In September, new business income fell 48% as against August.
Also, the life insurance companies have received Rs 9,613-crore premium by selling new policies in September as compared to Rs 18,500 crore in August. The private companies have registered a marginal growth of 0.13% in the first premium income.

Axis Bank raises USD 500 million

Axis Bank has raised USD 500 million via 5-year bonds, reports CNBC-TV18, quoting sources.
Earlier, Reuters had reported that  it had hired five banks for a US dollar bond issue and sources 
said that deal would probably raise around USD 500 million.

The online shopping mall – A new way to shop

Online shopping not only provides speed and convenience for customers all over
the world but it also provides retailers with the chance to hit their target audience
without the brick and mortar expense. The internet is flooded with online shops who
sell their products exclusively online and with the added extra of web advertising and
comparison websites, the buyer will always feel they have got the best deal. Or have
they?

Many people believe offers and discounts for products are mainly handed out on
flyers in the streets, advertised in shop windows, or found in the latest magazine
featuring high street coupons, but there is so much more to hidden paper discounts.
Internet shopping has opened the door to online companies featuring just these things.
From restaurant vouchers to clothes store discounts and travel coupons to DIY saving
codes, the opportunity to save money on nearly everything you buy is endless! The
sites providing these offers have become so popular within online consumers that
major manufacturers are also turning to this prospective market by providing offers
such as free shipping or gift vouchers in order to be included within these online
demands.
Using an online shopping mall not only provides shoppers with the chance to visit
whenever they wish but it also transports them to the future, making queuing at stores
to get the latest new releases, as something of the past. Consumers now turn to the
online market to pre-order items providing sellers with the guaranteed purchase and
payment before the product has even been released!
The best news is if you do find a voucher online but for whatever reason you cannot
use it on their online shop you can still print most of them to take in store, so your
high street brick and mortar shop vouchers will be available for use too. However,
without the need to check expiry dates and when the voucher codes can be used,
online voucher sites such as hot vouchers provide the latest deals and will let you
know instantly if the offer is no longer available.
There are also many different vouchers for one retailer such as money off certain
products combined with free delivery and although they may not be able to be used at
the same time, it does provide a wider choice.
Online shopping in this sense does not take away the benefits of visiting your
high street with magazine voucher in hand but instead offers a very different and
innovative experience for those who are willing to embrace it.