The transaction is Blackstone's first indemnity catastrophe bond...
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Himachal rains: Economic losses of Rs 4808.79 crore, Death toll reaches 130
As many as 13 people died, including one rescuer, after the...
Above-average global natural catastrophe insured losses reach estimated $52 billion in H1 2023: Gallagher Re
For all perils, the US accounted for 76% of all global insured...
British watchdog enlists 8 insurers in pandemic test case of Business Interruption cover
“We expect the test case to provide guidance for the interpretation of many other business insurance policies that are not in the representative sample,” the FCA said.
The eight insurers asked to take part in the court case were Lloyd’s of London insurers Hiscox, Arch, Argenta and MS Amlin, as well as RSA, QBE, Zurich and Ecclesiastical, the FCA said in a statement.
Hurricanes may cause more pain for pandemic-hit insurers
“What we’ve seen over the past couple of years is an increase of (storm) losses from a frequency and severity perspective,” said Susan Fallon, global head of Property at Zurich Insurance Group.
“There’s an expectation we will see increased rates.”
Lloyd’s of London this month forecast more than $100 billion in underwriting losses from the pandemic in 2020, with those losses coming before the hurricane season even gets going.
The specialist insurance market said the pandemic losses were similar in size to the loss year of 2005 – when Hurricane Katrina hit New Orleans – and 2017 – when Hurricanes Harvey, Irma and Maria hit Florida, Puerto Rico and Texas.
Covid-19 has not changed in terms of transmissibility, severity: WHO expert
WHO Director-General Tedros Adhanom Ghebreyesus warned that the world is “losing its ability” to use critically important antimicrobial medicines.
Speaking at a virtual press conference on Monday, the WHO chief said that the Covid-19 pandemic has led to an increased use of antibiotics, which ultimately will lead to higher bacterial resistance rates, news agency IANS reported.
UK households,locked down in April,cut debts by most on record
The Treasury also said its wage subsidy scheme to soften a surge in unemployment now covered more than 8.7 million jobs and claims had passed 17.5 billion pounds.
A similar scheme for self-employed people had seen 2.5 million claims worth 7.2 billion pounds.
India’s May jobless rate at 23.48% – private think-tank CMIE
India’s infrastructure output, contributing nearly 40% in industrial production, contracted 38.1% in April from a year earlier, the worst performance in years, government data showed on Friday.
Moody’s cuts India’s rating to lowest investment grade with negative outlook
Moody’s maintained a negative outlook for the new sovereign rating, citing worsening government finances as the coronavirus continues to hurt the economy.
India’s economy grew 3.1% in January-March, its slowest quarterly pace in at least eight years, and Moody’s expects a contraction of 4% in the current fiscal year, which runs until March 2021, due to the strict lockdown imposed in April and May.
India’s coronavirus infections overtake France amid criticism of lockdown
Criticism has grown in recent days that Prime Minister Narendra Modi’s sudden lockdown of 1.3 billion Indians in March has failed to halt the spread of the disease while destroying the livelihoods of millions of people who depend on daily wages.
Community transmission is well underway among the population, a team of independent experts said, adding this would only get worse as public transport opens.
New coronavirus losing potency, top Italian doctor says
“Pending scientific evidence to support the thesis that the virus has disappeared … I would invite those who say they are sure of it not to confuse Italians,” Sandra Zampa, an undersecretary at the health ministry, said in a statement.
“We should instead invite Italians to maintain the maximum caution, maintain physical distancing, avoid large groups, to frequently wash their hands and to wear masks.”
India tells airlines to keep middle seat vacant as far as possible
The regulator did not elaborate on what load factors or seat capacity would require the middle seats to be left vacant. It said the rules would come into effect from June 3.
People with intellectual disabilities more likely to die from COVID-19: Study
More attention is needed to this vulnerable health population in order to ensure their safety and well-being during this pandemic,” said study co-author Scott Landes, an associate professor of sociology at Syracuse University.