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Republican-led states sue US SEC over climate risk disclosure rules
The rules aim to standardize climate-related company disclosures...
Cabinet approves over Rs 10,000 crore to boost India’s AI ecosystem
By democratising computing access, improving data quality,...
Puri launches framework for cities to inculcate climate-sensitive approach to urban planning
At a virtual event, after launching ”Climate Smart Cities Assessment Framework 2.0”, Puri said, “It is estimated that climate change will impact the Indian GDP by 2-6 per cent on an annual basis.
“This means that our future development goals and investments will also be severely affected if we do not address climate risks now.”
Millions of COVID-19 cases went undetected in India, Research Paper Estimates
The research paper, written by government scientists and other experts and published late on Thursday, said large numbers of cases could have gone under the radar earlier this year because testing was limited to symptomatic patients or states had varying testing rates.
Munich Re to stop selling Pandemic Business Coverage after losses
“We are currently examining whether we will offer new contracts that include pandemic protection in property and casualty insurance in the future,” Torsten Jeworrek, Munich Re’s head of reinsurance, said in an interview.
“For the moment it has been suspended, for example with respect to event cancellations.” The company will continue to cover pandemics in its life and health contracts.Most of Munich Re’s Covid 19-related losses this year stemmed from the scrapping of major events and other hits to companies’ income during lockdown..
SC extends relief on NPAs after govt tells interest issue being looked into
The top court was hearing a batch of pleas which have raised the issue of interest being charged on instalments which were deferred during the moratorium period due to the COVID-19 pandemic.
Insurers face threat as Amazon to enter motor insurance market:GlobalData
Yasha Kuruvilla, Insurance Analyst at GlobalData, comments: “Since customers are reluctant to purchase insurance from tech companies, partnering with a third-party provider is the better strategy, at least until they become recognized names in insurance. Amazon’s partnership with insurtech Acko rather than an incumbent also highlights the retailer’s desire to work with digital and agile companies. This will put added pressure on incumbents, not only due to the emergence of a new large entrant in the market, but also the need to digitalize if they want to work with tech companies in any other future insurance ventures.”
COVID-19 accelerates global supply chain restructuring:Swiss Re
The sigma report estimates the overall income effect from the higher growth created by supply chain restructuring will generate additional global premium volumes of around USD 63 billion cumulatively during the five-year transition period. This includes a one-time boost of USD 1.2 billion arising out of new demand for engineering covers during the construction phase of manufacturing facilities and associated infrastructure, and USD 9 billion for commercial insurance in the operational phase of the new facilities.
General insurers can issue e-policies till March,2021:IRDAI
Now, all motor, health insurance policies,fire insurance policies, all package insurance policies issued to individuals and all miscellaneous policies issued to individuals where the sum insured does not exceed Rs. 5 crore,can be issued through digital/electronic mode.
Battery-Powered face mask seeks to fight Covid and foggy glasses
LG Electronics’ PuriCare Wearable, which comes in one size and weighs as much as a pair of ski goggles, features two fans and high-efficiency particle air filters that clean air coming in and exhaled breath going out.
As authorities increasingly urge the public use of face masks to prevent the spread of the coronavirus, manufacturers have turned their attention to making such gear more comfortable without compromising safety.
Portland votes for first-ever U.S. ban on corporate use of facial recognition
Facial recognition software can identify individuals in photos and videos based on a database of known subjects.
Several U.S. cities, including San Francisco and Oakland, have previously banned government use of facial recognition.
Coronavirus capable of invading brain:Study
According to the paper, which was led by Yale immunologist Akiko Iwasaki, the virus is able to replicate inside the brain, and its presence starves nearby brain cells of oxygen, though the prevalence of this is not yet clear.