Significantly, the number of structures that have developed cracks...
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Centre to enhance disaster fund for Himachal Pradesh: CM Sukhu
Sukhvinder Singh Sukhu,Chief Minister, Himachal Pradesh The Chief...
Two more hotels lean towards each other in Joshimath, cracks widen at many places
Many houses were damaged in varying degrees in the land-subsidence...
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.
WHO unsure antibodies protect against COVID, little sign of herd immunity
“A lot of preliminary information coming to us right now would suggest quite a low percentage of population have seroconverted (to produce antibodies),” Mike Ryan, the WHO’s top emergencies expert, said.
“The expectation that … the majority in society may have developed antibodies, the general evidence is pointing against that, so it may not solve the problem of governments.”
Global coronavirus death toll hits 150,000
The first death came in the central Chinese city of Wuhan on Jan. 9. It took 83 days for the first 50,000 deaths to be recorded and just eight more for the toll to climb to 100,000. It took another eight days to go from 100,000 to 150,000.The death toll is still far short of the so-called Spanish flu, which began in 1918 and is estimated to have killed more than 20 million people by the time it petered out in 1920.
COVID-19 Pandemic:Wave of class action lawsuits against insurers in US for denial of business interruption claims
The suits represent the broadest effort yet to compel insurance companies to fulfill promises made to hundreds of thousands of U.S. businesses that purchased insurance coverage to protect against precisely this situation.
Lloyd’s of London, Aspen American Insurance, Auto-Owners Insurance, Society Insurance, Oregon Mutual Insurance, and Topa Insurance Company are Named in Lawsuits
Some life insurers hit pause on older Americans during coronavirus crisis
Some insurers are also suspending applications for people in their 60s who previously may have been eligible for coverage despite common health problems such as diabetes or asthma.
Insuring older Americans can be a big risk for U.S. life insurers under the best of circumstances, but it brings in hefty premiums. A healthy 40-year-old woman pays about $180 annually for a $250,000 15-year term life policy, while a healthy 70-year-old woman pays $2,244, or 1,146% more, according to online brokerage Policygenius.
COVID-19 Pandemic:China’s claim payments amount to $17.4 million as of April 10
At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak,
The policies are aimed at supporting the resumption of production and work within the Chinese economy after a lockdown to contain the spread of the coronavirus, said Fitch