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COVID-19: 72,049 new cases take India’s virus tally to 67,57,131
The COVID-19 case fatality rate has further declined to 1.55 per cent.
There are 9,07,883 active cases of coronavirus infection in the country which comprises 13.44 per cent of the total caseload, the data stated
According to the ICMR, a cumulative total of 8,22,71,654 samples have been tested up to October 6 with 11,99,857 samples being tested on Tuesday.
Asia-Pacific motor insurance market to surpass $257bn in 2023:GlobalData
Another key trend which can be observed in the motor insurance market is the pace of product innovations. New insurance products such as short-term car insurance and pay-as-you-go (PAYG) products are being offered by motor insurance companies to support sales at a time when car usage is low due to lockdown restrictions. For instance, insurance start-ups such as UbiCar, Real and Kogan in Australia are offering pay-as-you-go insurance policies.
China’s insurance industry rakes in $ 625.5 billion premium in 2019
Last year, China’s insurance industry raked in a total of 4.26 trillion yuan (about 625.5 billion U.S. dollars) in premium income, insuring an aggregate amount of 6,470 trillion yuan, according to the report.
Hitachi and Swiss Re join hands to offer industry first ‘digital risk’ solutions
“We are excited to work with a global technology leader like Hitachi to advance corporate insurance through digital market platforms and accelerate the adoption of innovative, smart manufacturing.,Through this partnership we are activating machine-sensor data and continuous diagnostics across the industrial sector. Ultimately this will enable us to price risk more precisely, ensure effective pay-out mechanisms, and provide a seamless risk management experience that addresses industry inefficiencies and is tailored to our customers’ needs,” said Andreas Berger, CEO, Swiss Re Corporate Solutions.
Axis Bank to offer pay hikes up to 12%
HDFC Bank Managing Director and Chief Executive Officer Aditya Puri has assured employees of the country’s largest private sector lender that their jobs and bonuses are secure.The pay rises come as the coronavirus pandemic forces some local and global peers to cut jobs and pay. Many Indian lenders are seeking to save costs as the coronavirus is expected to push soured assets to a two-decade high
Subhendu Bal elected as new President of Institute of Actuaries
Elaborating his action plans, Bal said,;“Our immediate focus would be conducting the examination online and also introducing the new designed website to make it more user-friendly. We will also prioritize enhancing our Actuarial Job Portal to expand employment horizons for actuaries, both in traditional as well as non-traditional areas”
India may close some of its coal plants as focus shifts to climate change
Efforts in India to close old coal plants have gathered pace amid rising outcry against air pollution and deepening concerns over climate change. Besides the environmental benefits, the shut downs can also boost the use of more-efficient facilities that have remained under-utilised for years.
Health Ministry guidelines: No festive events in containment zones
“Staggered timings and restricted entry may be considered. Volunteers should be appropriately stationed to ensure thermal scanning, physical distancing and wearing of masks. The guidelines issued for theatre and cinema artists will apply to stage performers. Adequate supplies of sanitisers, thermal guns and physical distancing floor markings to be ensured,” the Centre added.
India Inc fundraising jumps 64% to Rs 1.1 lakh crore in August
When it comes to raising funds through public issuance in August, Rs 6,096 crore was raised through rights issue and Rs 11.5 crore by SMEs’ initial share-sales. There was no public issue of corporate bonds in the month of August 2020.
Hollywood shutdowns to cost insurer millions
The disruption of entertainment companies has translated into a rush of claims seeking compensation from insurers for lost income. Allianz alone took a 1.2 billion-euro hit to earnings in the first half from virus-related claims. In response, some insurers have stopped selling coverage to protect against business losses in future pandemics.