P K Mishra, Principal Secretary, PMO India has significantly...
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Fragile Himalayas: Unchecked pilgrimage, construction in Uttarakhand spell disaster for the region
Environmentalists point to the road expansion project as another...
Powerful Cyclone Mocha makes landfall in Myanmar, tearing off roofs and killing at least 3
Titon Mitra, the U.N. Development Program representative in...
50% of surveyed households in rural India eating less
While 50 per cent of households in rural India have reduced the number of meals ever since the lockdown was imposed as part of immediate adjustment for food security, about 68 per cent of the households reduced the number of items in their meals.
Life insurance business in India to contract in 2020 due to COVID-19, says GlobalData
GlobalData has revised India’s insurance forecast in the aftermath of the global coronavirus (COVID-19) outbreak. As per the latest data, India’s life insurance market is forecasted to grow at a compound annual growth rate (CAGR) of 5.3% during the forecast period 2019-2023.
Coronavirus health effects could last for years for some survivors
Chronic cardiac complications could arise in patients even after recovery as a result of persistent inflammation, according to an April 3 paper by doctors at the Cedars-Sinai Medical Center in Los Angeles. They based their analysis on patient data from Italy and China.
UK Financial Services firms weigh options for Post-Coronavirus work arrangements
“As insurance moves to more remote working, there is a greater risk of fraud and hacking,” said Bruce Carnegie-Brown, chairman of the Lloyd’s of London insurance market.
Covid-19 Pandemic: UK’s Airmic calls for change in approach to insurers’ pandemic response
Greater collaboration and communication between businesses, insurers and brokers to allow innovation and opportunity to emerge from the crisis.
Looking beyond the COVID-19 pandemic, Airmic supports the creation of national catastrophic pooling and reinsurance mechanisms, such as the existing UK pools for terrorism and flood. They must, however, be embedded in broader national and international risk strategies and should themselves be pooled to ensure the efficient use of capital, the association continued.
Covid-19 Pandemic:U.S. businesses,patients sue China seeking damages from Coronavirus outbreak
So far, at least nine lawsuits have been filed in the U.S. against China claiming authorities there did not do enough to corral the virus initially, tried to hide what was happening in the outbreak center of Wuhan and sought to conceal their actions and what they knew.
Eight of the lawsuits are potential class actions that would represent thousands of people and businesses. One was filed by the attorney general of Missouri, which is so far the only state to take legal action against China.
National governments must help provide insurance for future lockdowns: EU Regulator
Britain, France and the United States are already looking at what role the state could play in pandemic cover in the future.
PM Modi to address the nation at 8 PM today
Today is the forty-ninth day of India’s nationwide lockdown, which is meant to stop the novel coronavirus pandemic. Known COVID-19 cases in India stand at 70,756. The death toll in India due to the outbreak has reached 2,293. Maharashtra, Gujarat, Tamil Nadu and Delhi have reported the highest number of cases.
Global commercial insurance pricing rises by 14% in first quarter
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers have woken up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses.
Covid-19 Pandemic:World’s top 100 most valuable insurers could lose $100bn in brand value
At the time of Covid-19 Pandemic, insurance firms damaged both financially and reputationally, as they face a surge in coronavirus-related claims and risk angering customers if they refuse to pay out.Chinese brands make up half of the top 10 insurance companies, while Allianz and Axa also rank among the most valuable firms.
“The Covid-19 pandemic is going to hit the insurance sector hard – Brand Finance has predicted that insurance brands could face up to a 20 per cent drop in brand value and undoubtedly, we are going to witness revenue slowdown for all brands across the sector,” said Brand Finance chief executive David Haigh.