Category:

Eco/Invest/Demography

Nationwide lockdown pulls down general insurance prms by 10% in May,New India maintains positive growth

“We have managed this performance thanks to our strong digital presence and the commendable team work shown by the Corporate team and our numerous office in-charges and their respective teams,`It has taken real hard work, in such challenging times, to stay in positives. What is more or equally important that during this period, when we are not able to open offices in a regular manner, we have continued to settle the claims with equal efficiency by electronic means. Hope its not  clichéd to say ‘tough times do not last but tough teams do’. However, it would be extremely challenging if such period continues for some more months,” said Atul Sahai, CMD,NIA

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Plea in SC raises concern over safety of healthcare workers amid COVID-19 pandemic

It alleged that during these “tiring and difficult times”, some of the most pressing issues faced by healthcare workers across the country are — non-availability of sufficient personal protective equipment (PPE) in numerous hospitals, non-availability of a sufficient number of COVID-19 testing kits, sub-standard PPEs, lack of basic facilities in isolation wards, non-payment of salaries and breach of government guidelines by some private hospitals.

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France looks to insure businesses for future pandemics

France’s private insurers would provide business-interruption cover of up to 2 billion euros ($2.2 billion) a year in total for small companies hit by the fallout of any future pandemics, under a system proposed by the industry body.

The proposals, which would not apply to the current crisis, are aimed at helping 2.9 million small and mid-sized companies to cover some losses should they be required by the state to shut down their businesses if disaster strikes again.Under the proposed mechanism, known as CATEX, private insurers and reinsurers would provide coverage of up to 2 billion euros annually to businesses overall, beyond which the state would step in via public reinsurer CCR.
The new guarantee would be built into either fire insurance contracts, which all France companies have; or into business interruption policies, which 50% of businesses have.

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Govt says no community transmission of Covid-19 yet, but experts disagree

“It’s just that the health authorities are not admitting it. Even ICMR’s own study of SARI (severe acute respiratory illness) showed that about 40 per cent of those who tested positive for SARS-CoV-2 did not have any history of overseas travel or contact to a known case. If this is not community transmission, what is,” Leading virologist Shahid Jameel

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Remdesivir rollout to take more time as pharma firms working on providing safety, quality data

The Union Health Ministry on Saturday, in its revised ‘Clinical Management Protocol for COVID-19’, recommended the use of remdesivir under emergency use authorization on patients with moderate disease — that is those on oxygen support. It is not recommended for those with severe renal impairment and in children less than 12 years, pregnant and lactating women.

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Forget English, go vernacular: NITI Aayog CEO Amitabh Kant to fintech firms

If the financial sector firms do not adopt vernacular languages, all the previous efforts risk losing steam as people will get “alienated”, he warned.

He further said India has taken long strides on the financial inclusion front since 2011 by increasing the number of citizens who have bank accounts to 80 per cent now from 36 per cent.There is a need to go beyond account opening and savings products, and look at micro lending and micro insurance as well, he said.

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