PFRDA Chairperson Deepak Mohanty on Thursday launched a web...
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Odisha signs MoUs to develop landslide early warning & multi-hazard impact-based warming dissemination systems
These collaborations will strengthen the government’s preparedness...
Higher reinsurance costs and growing catastrophe budgets to erode profits of Asia-Pacific insurers: S&P
"With central banks across Asia-Pacific looking to adjust interest...
Young children carry higher levels of coronavirus:Study
It has also previously been shown that children with high viral loads of the respiratory syncytial virus (RSV) are more likely to spread the disease.
“Thus, young children can potentially be important drivers of SARS-CoV-2 spread in the general population,” the authors wrote.
DCGI issues notice to Serum Institute over Oxford’s Covid trial suspension
“Whereas, Serum Institute of India Pvt Ltd, Pune, till now has not informed the Central licensing authority regarding pausing the clinical trial carried out by AstraZeneca in other countries and also not submitted casualty analysis of the reported serious adverse event with the investigational vaccine for the continuation of phase 2 and 3 clinical trials of the subject vaccine in the country in light of the safety concerns,” said the show-cause notice accessed by PTI.
Convalescent Plasma therapy didn’t help in reducing Covid-19 deaths: ICMR
The apex medical research has made these revelations to investigate the effectiveness of plasma therapy for the treatment of COVID-19 after conducting a study in 39 hospitals across India.
Doorstep financial services by PSBs from October
The EASE Index ranks PSBs based on their performance in various themes like responsible banking, governance and HR, credit offtake, customer responsiveness and ‘Udyamimitra’ for micro, small and medium enterprises.
Global annual average Cat losses rise almost 8 times to $ 200 billion in 50 yrs:Study
The quality of recovery for very high and high insurance penetration countries is better than pre-loss levels, and the reverse is true for countries with lower insurance penetration although the differences are quite small. There is potential for product development in terms of “building back better”.
COVID-19 “not a capital event”, 3% decline in global reinsurance capital in the first half of 2020: Willis Re
Total capital dedicated to the global reinsurance industry was USD 587 billion at 30 June 2020, combined ratio worsened from 94.9% in the first half of 2019 to 104.1%, due to COVID-19 losses which added 11.1 percentage points to combined ratios on average. However, on an underlying basis i.e. normalising COVID-19 and catastrophe losses and excluding prior year reserve development, the combined ratio improved from 100.5% to 98.6%.
James Kent, Global CEO, Willis Re, said: “This half-year analysis shows a reinsurance market understandably in a state of change. While reinsurers have so far resiliently shouldered the combined effects of COVID-19 losses and investment market volatility, underlying profitability remains challenging. Uncertainty therefore remains, particularly over the potential impact of COVID-19 on long-tail lines, which is driving reinsurers to deliver additional improvement in underwriting returns. We expect to see further reinsurance market discipline as well as continued differentiation between regions and clients based on past performance and underlying risk.”
Learned from COVID-19 Pandemic to mitigate the risks of Climate Change?
The work to promote resiliency in the face of climate change must be collective in nature, with the insurance industry having an important role to play. Better risk transfer solutions and a higher take-up rate of insurance across communities means a faster recovery. The insurance industry has an advanced understanding of climate risk and extreme events, and its modelling, analyzing and forecasting capabilities offer vital insights to other participants in the resilience ecosystem, helping them better comprehend the risks, identify potential weaknesses and plot a course toward prevention.
Insurtech for assessing medical risk and cost of care raises $1.5mn
i3 Systems is an Indian AI product company for insurers, to estimate the medical risk and cost of care. The products work seamlessly on digital and unformatted data in complex healthcare and financial documents. The startup plans to use the funds to advance technology that enables seamless adoption of their product across all repetitive business processes in the BFSI industry.
Alok Agarwal, CFO, Reliance Industries and Zhooben Bhiwandiwala, president, Mahindra Partners are co-investors in i3 systems along with Unitus Ventures
Serum Institute pauses COVID-19 vaccine trials in India
“We are reviewing the situation and pausing India trials till AstraZeneca restarts the trials,” SII said in a statement.
‘Biden’s climate plan will give free pass to worst polluters like China, Russia, India’
US President Donald Trump has repeatedly blamed China, India and other countries for allegedly not doing enough for the climate.
He has also blamed India and China for his decision in 2017 to withdraw from the historic Paris climate accord, saying the agreement was unfair as it would have made the US pay for nations which benefited the most from the deal.