Economic losses from the moment magnitude (Mw) Mw7.8 and Mw7.5...
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UNCDF partners with Howden to build climate resilience for vulnerable communities in Fiji
The flagship programme has developed and deployed the Pacific...
Demand for `International Insurance Programmes’ grow as APAC businesses expand beyond local borders:Aon
Natural catastrophe events continued to drive large losses and...
Australia will make it a crime to use coronavirus tracing data for non-health purposes
The federal government has said existing “social distancing” measures will remain until at least mid-May, and that its willingness to relax them will depend on whether people download the smartphone “app” to identify who a person with the illness has had contact with.
The tracing app, which is yet to be released, has raised concerns from legal and privacy advocates who have said the location data it collects may be used by unrelated bodies like law enforcement agencies.
Shuttered businesses appoint lawyers to take on UK insurer Hiscox
The Hiscox Action Group said on Thursday it represented more than 200 policyholders with “dozens more joining daily”, that discussions with a litigation funder were advanced and that it had appointed Mishcon de Reya as legal adviser.
The dispute hinges on whether the government lockdown and the coronavirus are enough to trigger Hiscox’s business interruption insurance, designed for insured premises that cannot be used because of restrictions imposed by a public authority and in the event of a notifiable disease or infection.
In a statement last week, the insurer said: “General business interruption policies across the industry, including Hiscox’s, were not designed to cover the extraordinary circumstances caused by this pandemic.”
Covid-19 cases in India reaches 23,502,death toll rises to 718
“The growth of COVID-19 cases has been more or less linear, not exponential; this indicates that the strategies we adopted have succeeded in containing the infection to a particular level. Post imposition of lockdown, while the number of new positive cases has increased by 16 times, testing increased by 24 times,” Mishra said in his presentation.
Covid-19 Pandemic:IRDAI asks insurers not to pay any dividends for FY 2019-20
“In view of the emerging market conditions, and to conserve capital with the insurance companies in the interests of the policyholders and of the economy at large,insurers are urged to take a conscious call to refrain from dividend pay-outs from profits pertaining to the financial year ending 31st March 2020, till further instructions. This position shall be reassessed by the IRDAI based on financial results of insurers for the quarter ending 30th September, 2020,” said IRDAI on Friday.
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Developing economies could see sharper recession in 2020, World Bank warns
“Even if three months of mitigation measures prove effective in halting the pandemic, investors and households could remain skittish or local or global supply chains may not be restored,” wrote Ceyla Pazarbasioglu, vice president for equitable growth, and Ayhan Kose, director of the development prospects group.
Mortality rates drop sharply in parts of India, bucking coronavirus trend
But emergency room doctors, officials, and crematoriums noted that strict lockdowns had cut the number of road traffic accidents and deaths on India’s packed railways, and may also be deterring relatives from reporting a family death.
All over the world, mortality rates are being scrutinised to determine the true impact of the coronavirus, which emerged in China late last year and is known to have infected more than 2.7 million people globally, with nearly 190,000 deaths.
Aarogya Setu app crosses 75 million downloads
Minister of State for Electronics and IT Sanjay Dhotre has asked the services of common service centres for providing telemedicine services, especially in remote parts, during this moment of crisis, as it will bring a much-needed relief to people who are finding difficulty in accessing medical services during this lockdown.
India battles supply snags in race to build affordable ventilators
Before the pandemic, hospitals invested less in ventilators as they are expensive and the devices were available mainly in some hospitals in bigger Indian cities, Bhowmick added.
But companies are now pushing to make affordable devices.
Dynamatic Technologies is making a $33 ventilator that does not need electricity to function, while AgVa is aiming to make 10,000 ventilators by mid-May, priced under $2,000.
AgVa is collaborating with automaker Maruti Suzuki and state-run Bharat Electronics to make parts.
Lockdown In India impacted 40 million internal migrants: World Bank
The Bank said governments would do well to consider short, medium and long-term interventions to support stranded migrants, remittance infrastructure, loss of subsistence income for families back home, and access to health, housing, education, and jobs for migrant workers in host/transit countries and their families back home.
More calibrated monetary, fiscal stimulus on the anvil, says Principal Economic Adviser
International passenger travel would remain shut for a long time, not for weeks but for months, he said citing examples of sectors which will continue to be non-functional.