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Hedge funds rake in huge profits betting on catastrophe risk
The best hedge fund strategy of 2023 was a bet on insurance-linked...
MHA think tank alerts against ‘hijack’, sextortion, impersonation scams on WhatsApp
The Bureau of Police Research and Development (BPRD) has identified...
‘It may save your life’: Facing virus surge, more U.S. states mandate masks
“This piece of protection may even save your life,” North Carolina Democratic Governor Roy Cooper told reporters, adding that he was considering statewide obligatory mask use on a day when statewide COVID-19 hospitalizations set a new high.
Highest single-day spike of 13,586 COVID-19 cases in India
In some positive news, the number of recoveries crossed the two lakh mark and stands at 2,04,710, while there are 1,63,248 total COVID-19 active cases, according to the updated official figure at 8 am. One patient had migrated.
“Thus, around 53.79 per cent patients have recovered so far,” an official said.
ICICI Bank sells 3.6% stake in ICICI Lombard for Rs 2,250 cr
Mumbai: ICICI Bank on Friday sold 3.6 per cent stake in ICICI Lombard General Insurance Company for around Rs 2,250 crore.Post the divestment, ICICI Bank''s stake in its general insurance stands at around 51.9 per cent. The development comes after the...
U.S. insurers eye Legionnaires’ disease safeguards as buildings re-open from pandemic shutdowns
“Legionella could be the deadliest waterborne illness in the U.S. and another deadly consequence of COVID,” said Veronica Benzinger, environmental service group leader for insurance broker Aon PLC (, referring to the illness caused by the novel coronavirus.
Finance Ministry invites bids from transaction advisors for LIC’s mega IPO, may hit the market in second half of fiscal
The government currently owns 100 per cent in LIC.The IPO which was announced by finance minister Nirmala Sitharaman while presenting the Budget 2020, is likely to hit the market in the second half of the current fiscal.
Sitharaman said government wants to raise around Rs 90,000 crore from its disinvestment plans in IDBI, where it holds 46 per cent and LIC, where it has 100 per cent stake and may offload 10-12 per cent of its holding.
UK lowers Covid-19 alert level to ‘epidemic’ from ‘exponential’
“There has been a steady decrease in cases we have seen in all four nations, and this continues,” the chief medical officers of England, Wales, Scotland and Northern Ireland said.
“It does not mean that the pandemic is over. The virus is still in general circulation, and localised outbreaks are likely to occur.”
We will be living with coronavirus pandemic well into 2021, experts believe
“No activity will be without the risk of coronavirus,” said Amesh Adalja, a senior scholar at Johns Hopkins Center for Health Security in Baltimore. “It’s just how much risk people think is worth assuming.”
Robot butlers, digital menus are hotels’ latest weapon against Covid-19
According to the American Hotel & Lodging Association, “leisure and hospitality” was the hardest-hit industry in the Covid-19 era, far worse than retail and construction. In the U.S., hotels have lost more than $31 billion in room revenue since mid-February; as of June 3, 60% of open-for-business accommodations are sitting empty. Some 7.7 million hospitality and leisure jobs were lost in April alone
China finds Coronavirus contamination in seafood and meat in Beijing food market
China has found the trading sections for meat and seafood in Beijing’s wholesale food market to be severely contaminated with the new coronavirus and suspects the area’s low temperature and high humidity may have been contributing factors, officials said on Thursday.
Their preliminary report comes as the country’s capital tackles a resurgence of COVID-19 cases over the past week linked to the massive Xinfadi food center, which houses warehouses and trading halls in an area the size of nearly 160 soccer pitches.
The latest outbreak infected more than 100 people and raised fears of wider contagion in China.
Among the patients who work at the Xinfadi market, most serve at seafood and aquatic product stalls, followed by the beef and mutton section, and patients from the seafood market showed symptoms earlier than others, Wu Zunyou, chief epidemiologist at the Chinese Center for Disease Control and Prevention, said at a daily briefing on Thursday.
Low temperatures favorable to viral survival as well as high humidity might be possible explanations for why seafood markets could be a source of outbreaks based on a preliminary assessment, Wu said, cautioning that further investigation was necessary.
China has halted imports from European salmon suppliers this week amid fears they may be linked to the recent outbreak in Beijing.
Health officials have also warned against eating raw salmon after the virus was discovered on chopping boards used for imported salmon, although the origin of the outbreak is not known.
Low standards of hygiene in wholesale food markets and vulnerabilities in its food supply chain need to be urgently addressed, a leading body of the ruling Communist Party said this week.
Insurers cite Swedish example in bid to dodge Covid-19 biz income payouts
The court case is one of a number of battles across the world, where insurers and clients are fighting over whether coverage extends to measures taken by governments to halt the spread of coronavirus. In France, AXA SA was ordered by a Paris court last month to compensate a restaurant owner for two months of virus-related losses.