Spotlight

Section 62A. Tax credit for investment in health insurance.-(1) A resident person 474[***] other than a company shall be entitled to a tax credit for a tax year in respect of any health insurance premium or contribution paid to any insurance company registered by the Securities and Exchange Commission of Pakistan under the Insurance Ordinance, 2000 (XXXIX of 2000), provided the resident person 475[***] is deriving income chargeable to tax under the head “salary” or “income from business”.

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Cowbell Cyber announced enhancements to its cyber insurance platform

Cision PR Newswire | August 25, 2020

Cowbell Cyber, the industry's first AI-powered cyber insurance provider for small to mid-sized businesses (SMBs), today announced enhancements to its cyber insurance platform which allows for larger risk underwriting to be done with more ease, better accuracy and increased speed and for policyholders to immediately benefit from Cowbell Insights, Cowbell's continuously updated cyber risk insights. For insurance brokers, agents, policyholders, and businesses alike, clarity over coverages and the value delivered has long been the barrier for adoption of cyber insurance. AM Best recent report on the state of cyber insurance suggests that standalone cyber is now outpacing packaged cyber, growing 14% or two times faster. Cowbell's on-going platform enhancements make cyber insurance approachable to all businesses and policyholders through Cowbell Prime, its standalone, admitted cyber insurance product.

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Sapiens ReinsurancePro and FinancialPro are Selected by Co-Operative Insurance Companies

Sapiens | April 20, 2021

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Texas Farm Bureau Insurance to refund over $20 million to auto insurance customers

Texas Farm Bureau Insurance | April 29, 2020

Texas Farm Bureau Insurance (TFBI) is refunding more than $20 million to it auto insurance customers, in response to the decrease in accidents following COVID-19 social distancing rules. A release explained that the company’s auto insurance policyholders will be credited and/or refunded 15% of their insurance premiums for two months. Those credits/payments will begin May 15, 2020. Policyholders will not need to take any action to claim their credit refund, TFBI said. For those who have a payment schedule, they will receive a credit on their future billing statement. Those who have paid their policies in full will receive a refund check through the mail. “Texas’s streets have been quieter than usual as everyone joins forces to do the important work of flattening the curve,” said TFBI executive vice-president Mike Gerik. “With fewer drivers on the road resulting in fewer accidents, we are pleased to be able to make this premium refund to our policyholders.

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Spotlight

Section 62A. Tax credit for investment in health insurance.-(1) A resident person 474[***] other than a company shall be entitled to a tax credit for a tax year in respect of any health insurance premium or contribution paid to any insurance company registered by the Securities and Exchange Commission of Pakistan under the Insurance Ordinance, 2000 (XXXIX of 2000), provided the resident person 475[***] is deriving income chargeable to tax under the head “salary” or “income from business”.