Category:

Disaster & Management

From Africa to America, businesses and insurers face survival showdowns

Businesses around the world, hamstrung by lockdowns, are facing often-existential showdowns with insurance companies that are reluctant to pay out on business interruption policy claims for a disaster unknown in living memory.

The insurers say many such policies exclude pandemics, require physical damage on premises or do not apply to the widespread lockdowns seen globally. Facing pressure from regulators, mounting reputational damage and a wave of lawsuits, they warn that paying out could sink their industry.

In some countries, including South Africa, France and Germany, insurers are now opening their chequebooks. But for many customers, these settlements or ex-gratia payments – voluntary payouts that do not imply legal liability – fall short.

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COVID-19: SC refuses to direct transfer of contributions made to PM CARES to NDRF

The apex court said the National Disaster Management Plan prepared by the Centre deals with all aspects of the Biological and Public Health Emergencies in systematic and planned manner and thus there is no need of separate plan to deal with COVID-19 pandemic.

The bench said the National Disaster Management Authority was well aware of the epidemics and had issued guidelines in the year 2008 itself which has been further detailed in Plan-2019.

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India’s coronavirus death toll surpasses 50,000,total number of tests cross the 3 crore mark

Implementation of testing aggressively, tracking comprehensively and treating efficiently through a plethora of measures have contributed to the existing high level of recoveries as well, it said. The total number of recoveries in the country rose to 18,62,258 on Sunday, according to official data.

Improved and effective clinical treatment in hospitals, supervised home isolation, use of non-invasive oxygen support, and improved services of the ambulances for ferrying patients for prompt and timely treatment have been the focus of the Centre and state and UT governments, the ministry said.

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Blow to WHO? EU clinches first Covid-19 vaccine deal with AstraZeneca

The European Commission, which is negotiating on behalf of all 27 EU member states, said the deal included an option to purchase 100 million additional doses from the British drugmaker should its vaccine prove safe and effective.

The EU’s bilateral deal mirrors moves by the United States and other wealthy states, some of which are critical of the WHO’s initiative, and further reduces the potentially available stock in the race to secure effective Covid-19 vaccines.
The EU move could complicate efforts led by the WHO and GAVI, a global alliance for vaccines, to buy shots on behalf of rich and developing countries with a separate scheme.

The Commission has urged EU states to shun the WHO-led initiative because it sees it as too expensive and slow, EU officials told Reuters in July

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US pharma cos protected from COVID vaccine liability

Pandemic-related claims for vaccines will be routed to a rarely used USA federal program set up to encourage drugmakers to help combat public health emergencies. It spares pharmaceutical and device makers from costly liability lawsuits in exchange for taxpayers compensating injured patients — though it doesn’t guarantee there’s funding to do so.“We want people vaccinated and we don’t want to expose pharmaceutical companies to the kind of liability that they would otherwise have,” said Brent Johnson, a partner with Holland & Hart, who defends corporate clients. “That’s the price we’re willing to pay to get rid of this horrible coronavirus problem.”

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Lebanon’s insurance claims from Beirut port blast total $425 million, so far

Caretaker Economy Minister Raoul Nehme said 2,500 claims have been filed, according to the presidency’s Twitter account. The ministry expects claims to reach 10,000

Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say.

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“Covid warriors will be first to get vaccinated, once we get it”: MoS Health

Phase 1 and 2 human clinical trials of two of the vaccine candidates, developed indigenously by Bharat Biotech, in collaboration with the Indian Council of Medical Research (ICMR), and Zydus Cadila Ltd, are currently underway.

The Serum Institute of India has been permitted to conduct Phase 2 and 3 human clinical trials of the third vaccine candidate developed by Oxford University. The Pune-based institute has partnered with AstraZeneca for manufacturing the vaccine.

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