Latest news with #Kolkatans
Time of India
22 minutes ago
- Business
- Time of India
Many in Kolkata buy India's first climate insurance; heat, rain & cold risks included in policy
Many in Kolkata buy India's first climate insurance; heat, rain & cold risks included in policy (Photo: ANI) KOLKATA: Over 600 Kolkatans have bought the country's first 'climate change' insurance policies rolled out by a private insurer offering to compensate the customers for climate-related income loss or increased expenses. Another private player and a PSU are set to launch the scheme - parametric policies in insurance jargon - soon. The short-term scheme targets house owners, officegoers, auto and cab drivers, shop owners, delivery agents, home service professionals, gig workers and event attendees. The climate risks include extreme heat, cold waves, and excessive rainfall, and the policies covers increased living costs due to higher electricity use, unexpected commute cost, reduced sales due to extreme weather, supply chain delays due to flooding, leaks from prolonged rainfall, accidents caused by excessive rain, loss of income for daily wage workers, and event cancellations due to adverse weather. The insurer, Bajaj Allianz General, has separate heat, rain, and cold index policies under its climate-risk products. In Kolkata, it is primarily focusing on the heat index product and has received positive response from the household category, company officials said. ICICI Lombard is likely to introduce its climate products in the state soon while National Insurance Company will roll out 'parametric' policies in Kolkata and a few other vulnerable cities. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Wärmepumpe 2025: Technikwunder stellt den Heizungsmarkt auf den Kopf thermondo Undo Climate experts say Bengal, Kolkata in particular, is among the most climate-vulnerable regions in India due to its unique geography, dense population, and rapid urbanisation. The state faces a high risk of cyclones, floods, sea-level rise, and extreme heat events, says Sanjay Vashist, who is part of the committee entrusted with drafting Kolkata's Climate Action Plan. Elaborating on the need for climate change products, Bajaj Allianz MD & CEO, Tapan Singhel, said, "Climate change is no longer a distant threat. It is a reality that affects our daily lives in visible and often disruptive ways." Partha Roy of Northern Avenue, among those who have bought a heat index policy, said his decision was prompted by the five-digit electricity bill that he received for May. Ashish Agarwal, agri business head at Bajaj Allianz, said they had sold close to 650 heat index products in Kolkata so far. For these products, policy duration is from one day to one month and has to be purchased three days ahead of the risk date or the week or month, he said. A company official explained, "For a particular location, we depend on IMD data for the past 30-35 years to arrive at a 'trigger point'. In big cities like Kolkata, various locations may have different trigger points. Real-time climate data is used to determine payouts. When predefined conditions are met, the policyholder receives payout without the need for a lengthy claims process."
Time of India
6 hours ago
- Business
- Time of India
Climate change on radar, insurers line up extreme heat, rain cover
Kolkata: About 650 Kolkatans have recently bought short-term 'climate-change' policy — parametric policy in insurance jargon — that has been rolled out by a private insurer. A second private player and a PSU insurer are also set to launch such policies soon. Tired of too many ads? go ad free now Aimed at house owners, office-goers, auto and cab drivers, shop owners, delivery agents, home service professionals, gig workers and event attendees, these policies seek to compensate customers for climate-related income loss. The climate risks include extreme heat, cold waves and excessive rainfall, and the policies cover increased living costs due to higher electricity use, unexpected commute cost, reduced sales due to extreme weather, supply chain delays due to flooding, leaks from prolonged rainfall, accidents caused by excessive rain, loss of income for daily wage workers and event cancellations due to adverse weather. Bajaj Allianz General, the first off the block, has separate heat, rain and cold index policies under its climate-change category. In Kolkata, it is primarily focusing on the heat index product and has received very good response. Climate experts say Bengal — and Kolkata in particular — is among the most climate-vulnerable regions in India due to its unique geography, dense population and rapid urbanisation. The state faces a high risk of cyclones, floods and extreme heat events, says Sanjay Vashist, who is part of a panel entrusted with drafting Kolkata's Climate Action Plan. ICICI Lombard is also likely to introduce its climate products in the state soon while PSU insurer National Insurance will roll out 'parametric' policies in Kolkata and a few other vulnerable cities. Elaborating on the need for climate change products, MD & CEO of Bajaj Allianz General Insurance Tapan Singhel said, "Climate change is no longer a distant threat. It is a reality that affects our daily lives in visible and often disruptive ways. Tired of too many ads? go ad free now From flight cancellations due to extreme weather to delays in logistics, supply chains and daily commutes, the financial and emotional toll of climate-related events is steadily increasing. " Partha Roy of Northern Avenue, among those who have bought a heat index policy, said his decision was prompted by the five-digit electricity bill that he received for May. Ashish Agarwal, agri business head at Bajaj Allianz, said they had sold close to 650 heat index product in Kolkata so far. For these products, policy duration is from one day to one month and has to be purchased three days ahead of the risk date or the week or month, he said. A company official explained, "For a particular location, we depend on IMD data for the past 30-35 years to arrive at a 'trigger point'. In big cities like Kolkata, different locations may have different trigger points. Real-time climate data is used to determine payouts. When predefined conditions are met, the policyholder receives payout without the need for a lengthy claims process." Gaurav Arora of ICICI Lombard pointed out that parametric insurance products would soon be a lifeline for many as these would mitigate financial hardship faced by those insured from extreme weather conditions. Ashok Kumar Lahoty the appointed actuary at National Insurance said their parametric policy was already on the drawing board.
Time of India
28-05-2025
- Time of India
Scammed by cabby, US vlogger posts harass video on YouTube
Kolkata: An American travel content creator was allegedly scammed and threatened by a taxi driver and his accomplice, a tout, shortly after arriving at Kolkata airport. The YouTuber captured the incident on video, which has since gone viral on social media after being posted about nine days ago. Kolkata Traffic Police, tagged in the video by multiple Kolkatans who lodged individual complaints, stated they are reviewing the content of the video and confirmed a preliminary probe was started. Bidhannagar cops also may be involved, given that most of the incident took place near a Rajarhat hotel. Dustin, a US-born, Asia-based YouTuber with 22,000 subscribers, runs a YouTube channel where he shares his experiences exploring the culture, food, people, and hidden corners of multiple countries. The incident occurred when he chose a local taxi over a ride-hailing service for his journey to a hotel on Park Street. Instead of taking him to his destination, the driver and an accomplice reportedly drove 15 km in the opposite direction to a similarly named hotel in Rajarhat. When confronted, the situation escalated into threats and demands for additional payment. "I showed you the hotel first, we agreed to this, and then you took me to the wrong hotel," Dustin can be heard saying in the video. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Conheça o óculos militar que os homens 40+ querem Óculos Max Saiba Mais Undo The initial fare of Rs 700 was increased to Rs 900 for dropping Dustin to Park Street. The accomplice, wearing a red shirt, was recorded speaking in Bengali, threatening violence against the tourist. According to translations, he said, "I have connections with the mafia, I'll drag him to a lonely place and break his bones. " The perpetrators eventually settled for Rs 800, claiming Rs 150 for "parking and petrol". The journey, which typically takes under an hour, lasted 100 minutes. Despite the ordeal, Dustin kept a positive outlook. "This won't ruin India for me... but I'll never take a random taxi again," he said in the video. In a subsequent clarification on his YouTube channel four days ago, Dustin emphasised that the incident was isolated and not representative of his broader experience in Kolkata. "I had an amazing time in Kolkata and I met incredible people there, super friendly, only complaint is Kolkata has tooooo many sweets :D This taxi driver incident was a one-time incident and it didn't change anything for me and how I feel about India, Kolkata or anyone else," he wrote.
Time of India
26-05-2025
- Time of India
Kolkata embraces staycations with lighter menus, wellness retreats
With vacations on and long travel plans uncertain, hotels and resorts in and around Kolkata are witnessing a significant surge in demand for staycations. According to the property owners, Kolkatans are seeking refreshing breaks that prioritise relaxation and local exploration without the hassles of distant journeys. Far from being a mere alternative, staying closer to home has become a deliberate choice for many and we speak to the various properties about how they are ensuring a blend of comfort, convenience, and curated experiences for their guests. Summer menus: Light, refreshing and local As the temperature rises, city hotels are ensuring their menus are refreshing. 'We're embracing summer by celebrating the king of fruits – mango. Our specially curated mango menu transforms traditional desserts into refreshing summer treats. From Mango kulfi and Mango shrikhand to Mango cheesecake and Mango gudbad, each dish retains its classic essence while offering a cool respite,' said Glen Dsouza, GM of a south Kolkata hotel. Local escapes register an uptick The staycation trend is booming, with properties noting a significant rise in bookings from locals. 'Our local getaways have seen nearly a 45% increase this month. Seems like people want a quick escape while not travelling too far, and we're happy to provide that here,' says Vinesh Agarwal, owner of Bagan Baithak resort. This demand blends with professional needs, as Rajneesh Kumar, general manager of Novotel Kolkata, explains: 'Staycations offer the perfect opportunity to maintain work-life balance, with guests—families, couples, and solo professionals—seeking a one-stop solution for relaxation purposes and stress-free escapes close to home.' Rakesh Ranjan, vertical head of Ambuja Neotia Hospitality, adds, 'Staycation guests account for about 45% of our total occupancy. ' Wellness-focused staycations see a surge Hotels and resorts are increasingly focussing on holistic experiences with wellness at the heart of their summer offerings. 'Wellness is central to our ethos, with sunrise yoga, Aqua Zumba, spa rituals, energy shots, weekend Fitness Bootcamps, and a social pool hub with mocktails and grills,' says Rajneesh Kumar. This focus aligns with the growing demand for more enriching stays. 'There's been a 30-35% rise in staycations this season, especially on weekends. Guests are seeking hassle-free, nature-close getaways filled with activities—from spa and yoga to kids' programmes. Wellness staycations are now popular,' adds Rajib Roy Choudhury of The Vedic Village. Reimagining traditions Hotels are reimagining comfort food this summer. 'At AltAir, we're serving lighter, seasonal dishes with chilled, yoghurt-based curries, mango-based innovative dishes, seafood biryanis, and fresh mustard-coconut flavours infused in traditional dishes,' says Rakesh Ranjan. Joydeep Das of The Westin Kolkata adds: 'Our summer menus focus on light, refreshing fare with coolers, grills, and chilled desserts. ' Modern guests crave creativity, connection, and peace that help them detaching from their usual routines – Rajneesh Kumar We've partnered with local musicians for live Santoor recitals during breakfast hours – Rakesh Ranjan One step to a healthier you—join Times Health+ Yoga and feel the change
Time of India
17-05-2025
- Business
- Time of India
Kol tourists take a financial hit but scrap Turkiye travel plans
Kolkata: After Turkiye rallied behind Pakistan during its recent conflict with India, several Kolkatans have decided to cancel tours to the country. While travel agents and tour operators had declared that they would boycott Turkiye and Azerbaijan, several hundred tourists from the city who were scheduled to travel to Istanbul have voluntarily cancelled their holidays, even while incurring losses through flight ticket cancellation fees. The total impact that Turkiye tourism could face from the travel boycott in Kolkata this summer and the ensuing Durga Puja is estimated at Rs 60 crore-Rs 75 crore. Punam Arora of South Wind Travel said a family group of eight who were booked to travel to Istanbul, Cappadocia and Antalya in the first week of June cancelled the booking and incurred losses of around Rs 15,500 per ticket in cancellation fees. "We have never seen clients incurring losses to cancel a trip based on sentiment and national pride. Nearly all travel agents in Kolkata have the same story to tell. We thought we would boycott promoting Turkiye and Azerbaijan, but clients have already decided not to travel to these destinations," said Arora, who is also the treasurer of the Travel Agents' Association of India's eastern India chapter. Sources said around 1,500 confirmed bookings to Turkiye were cancelled by clients. The country is set to lose a similar number of bookings during Durga Puja. While the Turkish govt's support to Pakistan played a major part, there were some who were unsure about steps that the Indian govt would take against Turkiye in the days ahead that could leave them in a difficult situation. Though India has not imposed any curbs on flights to the country yet, the revoking of security clearance to Turkish firm Celebi, which provides airport ground services, has left many rattled. Avijit Dasgupta, branch head of the Mumbai office of Globe All India Services, said his office issued a red alert on Turkiye even before Operation Sindoor as the political situation there was deteriorating. "In May, we had a 250-member MICE trip. We advised the clients to cancel it given the uncertainty there and the climate here, and they agreed to do so," he said. Turkiye is popular due to the confluence of eastern and western cultures that one can experience, the beautiful locales, the friendly people and their hospitable manners, affordable prices, and great connectivity. Around 2.7 lakh Indians visited Turkiye last year, 20% more than the previous year. But following the spate of cancellations, leading industry bodies in the travel trade community foresee the numbers plummeting to less than half unless Turkish president Recep Tayyip Erdogan reconciles with the Indian govt soon. TAAI decided to boycott Turkiye and Azerbaijan over a week ago following the Turkish president's unequivocal support for Pakistan. "Turkiye called India a 'dost' for its generosity in providing aid after the earthquake. But when India carried out a restrained and calibrated attack on terrorist camps in Pakistan, the country stabbed India in the back by supporting Pakistan," said TAAI chairman (east) Anjani Dhanuka. The Travel Agents' Federation of India has also announced that it will not support Turkiye and will promote alternative destinations. "Instead of condemning the barbarous attack on innocent civilians in Pahalgam or offering sympathy and condolences, Turkey has chosen to stand with perpetrators and abettors of this heinous crime against humanity," said TAFI managing committee member Anil Punjabi.
