Deforestation in the Amazon, the world’s largest rainforest and...
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Insurers hit with thousands of claims as rains soak New Zealand
Citi in a research note observed that IAG’s exposure to the floods...
Worst impacts of sea level rise will hit earlier than thought: Study
In total, after two metres of sea level rise, the researchers...
Flight bookings only after Govt decison on lockdown
“Airlines are advised to open their bookings only after a decision in this regard has been taken by the government,” the minister added.Earlier on Saturday, Air India said it has opened bookings on select domestic flights from May 4 and on select international flights from June 1.
Postal employees to get Rs 10 lakh compensation in case they succumb to COVID-19
“In the context of COVID-19 situation, it has been decided to extend payment of compensation of Rs 10 lakh to all postal employees, including Gramin Dak Sevaks (GDS), succumbing to the disease while brought on duty. The guidelines will come into effect immediately and continue for the entire period till the crisis of COVID-19 is over,” the Ministry of Communications said in a statement.
Coronavirus cases in India reach 16,365, death toll jumps to 521
The worldwide death toll from the novel coronavirus pandemic rose to 160,755, according to a tally from official sources compiled by Worldometer. More than 2,330,883 declared cases have been registered in 193 countries and territories since the epidemic first emerged in China in December
Trump warns China of consequences,Australia demands coronavirus enquiry
“If it was a mistake, a mistake is a mistake. But if they were knowingly responsible, yeah, I mean, then sure there should be consequences,”U.S. President Donald Trump
Australia’s foreign minister, Marise Payne, said her concern about China’s transparency was at a “a very high point”.
“The issues around the coronavirus are issues for independent review, and I think that it is important that we do that,” Payne told ABC television.
IRDAI directs insurers to settle all COVID 19 claims in 2 hrs
– Decision on authorization for cashless treatment shall be communicated to the network provider (hospital) within two hours from the time of receipt of authorization request and last necessary requirement from the hospital either to the insurer or to the TPA whichever is earlier,
-Decision on final discharge shall be communicated to the network provider within two hours from the time of receipt of final bill and last necessary requirement from the hospital either to the insurer or to the TPA whichever is earlier,
– Insurers have to issue appropriate guidelines to their respective Third Party Administrators.
Govt plans“Pandemic Pool” covering income loss of vulnerable section of the economy
The proposed “Pandemic Pool’’ will facilitate the transfer of the loss of income risk to the extent possible and can guarantee a regular pay-out for a specific time frame to these affected individuals so that liquidity can be maintained in the economy and people of the lower strata can sustain the crisis.The state government concerned at its level can sort insurance protection for this vulnerable section of the society. The economic risk associated with such outbreaks can thus be transferred to the insurance.
The concept such a Pandemic Pool has recently been mooted by the Axa Re,the French multinational insurance company, said the central government sources.
Amazon deploys thermal cameras at warehouses to scan for fevers faster
The use of cameras, previously unreported, shows how America’s second-biggest corporate employer is exploring methods to contain the virus’ spread without shuttering warehouses essential to its operation.
U.S. states have given Amazon the green light to deliver goods with nearly all the country under stay-at-home orders.
COVID-19 presents insurers with an opportunity to rebuild consumer trust, says GlobalData
Beatriz Benito, Senior Insurance Analyst at GlobalData comments: “The lockdowns imposed in many countries around the world has left a large proportion of the population housebound. Therefore, a reduction in claims presents insurers with an opportunity to give something back to customers and rebuild consumer trust. Currently, several insurers in the US are refunding policyholders as the lockdown will lead to a significant reduction in miles driven.”
World economy bound to suffer ‘severe recession’: IMF
“The global coronavirus outbreak is a crisis that is like no other and poses daunting challenges for policymakers in many emerging market and developing economies (EMDEs), especially where the pandemic encounters weak public health systems, capacity constraints, and limited policy space to mitigate the outbreak’s repercussions,” IMF chief Kristalina Georgieva said.
India’s automakers seek tax cut to boost demand after coronavirus hit
The coronavirus outbreak has left the automotive industry in “deep distress”, making financial support and a revival of demand a necessity, SIAM President, Rajan Wadhera said.