Two of India biggest ports - Mundra and Kandla - are in the Gulf of...
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Guj prepares for impact as cyclone Biparjoy likely to make landfall between Kutch and Pakistan’s Karachi
The India Meteorological Department (IMD) said the ''extremely...
Extreme weather events claimed 233 lives in India between January and April: Report
Between January and April 2022, extreme weather events claimed 86...
Twitter to let some employees to work from home permanently
Tech giants like Facebook Inc and Alphabet Inc’s Google have allowed most of their employees to work remotely until the end of this year.
Coverage of Pandemic Risk through P/C Insurance could be designed like existing Federal Programs:US actuaries’ body
“Pandemic risk is more similar to the catastrophic risks covered by programs like the Terrorism Risk Insurance Program and the National Flood Insurance Program than to risks normally insured by the commercial insurance market, and any new federal program seeking to facilitate pandemic risk coverage should reflect that difference,” said Academy Vice President, Casualty, Lisa Slotznick, the signer of the letter on behalf of the Academy’s Casualty Practice Council to the House committee.
UK Govt to support businesses through Trade Credit Insurance guarantee
The government will temporarily guarantee business-to-business transactions currently supported by Trade Credit Insurance, ensuring the majority of insurance coverage will be maintained across the market. This will support supply chains and help businesses to trade with confidence as they can trust that they will be protected if a customer defaults on payment.
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.