“ Without exception, the non-life insurance sector is severely burdened and we are afraid we will have difficulty in meeting certain regulatory requirement,” said M N Sarma, secreatry general , GI Council, in its letter to the IRDAI adding that the IRDAI may relax the minimum solvency requirement of 1.5 times for the time being on the same lines as the regulator had relaxed at the time of dismantling motor third party pool.

While asking insurers to devise appropriate insurance products that would provide protection from risks arising out of Covd-19, the IRDAI has assured  that it would to process such product approval applications on a fast track mode.

Claims arising on account of Covid-19 should be processed expeditiously. Insurers are encouraged to adopt simplified / expedited claim procedures for such cases. In addition, other claims should also be processed within the prescribed period by making special efforts, said IRDAI.

“There are rumours & media reports, claiming that the Government will extend the #Lockdown21 when it expires. The Cabinet Secretary has denied these reports, and stated that they are baseless,” the Press Information Bureau (PIB) of the Ministry of Information and Broadcasting tweeted.

he  Indian government decided on a two-pronged strategy: lock down the entire nation to break the infection chain and quickly ramp up its tattered healthcare facilities to face the pandemic.The blueprint also encompasses converting medical colleges and railway coaches into isolation wards, stadiums into quarantine facilities, and readying part of hospitals under defence, central police forces and railways for Covid-19 patients.

The paper by Ronojoy Adhikari in collaboration with Rajesh Singh from the Department of Applied Mathematics and Theoretical Physics at the University of Cambridge in the UK shows that the 21-day lockdown that the India government has imposed is unlikely to be effective and ‘there will be a resurgence of Covid-19 at the end of it’.