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The increase in coverage to Rs 10 lakh per family per year and...
Insurers’ solid capital levels, growth prospects support stable outlook on Vietnam non-life sector
A new Best’s Market Segment Report, titled, “Market Segment Outlook: Vietnam Non-Life,” states that Vietnam’s non-life insurance market grew by 12% in 2019 to VND 52.3 trillion (USD 2.2 billion) in terms of direct premiums written (DPW). The health and personal accident and fire classes of business recorded remarkable growth of 20% and 30%, respectively, in 2019, supporting the sector’s overall strong growth. Notably, the primary drivers of business growth have been the health and motor insurance businesses, which registered robust 10-year compound annual growth rates of 27% and 18%, respectively.
India records over 10,000 COVID-19 cases in single day, tally nears 3 lakh: Health Ministry
Of the 396 new deaths reported till Friday morning, 152 were in Maharashtra, 101 in Delhi, 38 in Gujarat, 24 in Uttar Pradesh, 23 in Tamil Nadu, 12 in Haryana, 10 in West Bengal, nine in Telangana, six in Rajasthan, four each in Madhya Pradesh and Punjab, three each in Bihar and Karnataka, two each in Andhra Pradesh, Assam and Puducherry and one in Jammu and Kashmir.
Poverty may surge to over 1 billion due to coronavirus, warns study
Because millions of people live just above the poverty line, they are in a precarious position as the economic shock of the pandemic plays out. In a worst case scenario, the number of people in extreme poverty – defined as earning under USD 1.90 a day – is forecast to rise from about 700 million to 1.1 billion, according to the report, which was published by the United Nations University World Institute for Development Economics Research.
People’s movement from 9 pm-5 am prohibited; buses, trucks can ply on highways: MHA
“I would like to clarify that the purpose of restricting movement of individuals, except for essential activities, between 9 pm and 5 am, is primarily intended to prevent congregation of persons and to ensure social distancing,” Union Home Secretary Ajay Bhalla said.
Fears of second U.S.coronavirus wave rise on worrisome spike in cases, hospitalisations
Total U.S. coronavirus deaths are now over 113,000, by far the most in the world. That figure could exceed 200,000 at some point in September, Ashish Jha, the head of Harvard’s Global Health Institute, told CNN.
Ashish Jha, the head of Harvard’s Global Health Institute, said the United States was the only major country to reopen without getting its case growth to a controlled level – defined as a rate of people testing positive for the coronavirus remaining at 5% or lower for at least 14 days. Nationally, that figure has been between 4% and 7% in recent weeks, according to a Reuters analysis.
Insurers can’t deduct cost of implants,medical devices, and diagnostics in health policies:IRDAI
“IRDAI has mentioned that insurers need to define the associate medical expenses which will be deducted proportionately if a person opts for a higher room category than the category that is eligible as per terms and conditions of the policy. Additionally, it has mentioned that expenses like cost of pharmacy, cost of implants, cost of diagnostics, etc. will not fall under the definition of ‘associate medical expenses’ and hence, proportionate deduction for such expenses will not be applicable along with the ICU charges as well. Insurers will negotiate with their hospital networks to see that the increase in rates of the associate medical expenses with change in room category are in control so as to benefit the customer,” Bhaskar Nerurkar, head,health claims, Bajaj Allianz General Insurance said.
COVID-19 tests may yield false negative if used too early on infected people: Study
A negative test, whether or not a person has symptoms, doesn’t guarantee that they aren’t infected by the virus,” said Lauren Kucirka, a co-author of the study from Johns Hopkins University.
In post-lockdown China, student mental health in focus amid reported jump in suicides
The state-owned Health Times also reported on Sunday that nationwide, 18 students had jumped off buildings in the past three months and quoted experts calling for more focus on student mental health. The article was, however, soon deleted – a common occurrence in China when sensitive topics are raised.
Futures drop on fears of second virus wave, bleak economic view
“The market has been rallying because they’re looking to 2021 and saying we’re going to get past this and then things will get sort of back to normal,” said Sean O’Hara, president of Pacer ETF Distributors in Malvern, Pennsylvania.
“One thing that really could change the trajectory here would be if we have a big bounce in a second wave. That’s the big fear.”
International trade set to shrink 27% in second quarter after April ‘nosedive’, says UNCTAD
“Trade in the automotive and energy sector collapsed while trade in agri-food products has been stable.”
Trade in developing countries appears to have taken a “nosedive” in April, falling faster relative to developed countries, it said. Imports into developing countries fell by 19% in April while their exports shrank by 18%, it said.