Five deaths -- two each from Kerala and Maharashtra and one from...
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Climate change makes forecasting harder, says Australia’s agriculture minister
“Climate change is having an impact. The models that we’ve...
ECB cyber stress test not to affect capital requirements
The exercise will assess how banks respond to and recover from a...
UK Govt to support businesses through Trade Credit Insurance guarantee
The government will temporarily guarantee business-to-business transactions currently supported by Trade Credit Insurance, ensuring the majority of insurance coverage will be maintained across the market. This will support supply chains and help businesses to trade with confidence as they can trust that they will be protected if a customer defaults on payment.
Reviving Economy:$40 billion credit line for small businesses,due date for all I-T returns for 2019-20 extended to Nov 30,2020
A liquidity relief is being given for all EPF establishments. Government support in the form of 12% employer and 12% employee contribution extended for another three months (June, July and August).Government has reduced statutory EPF contribution of private sector employers and employees from current mandated 12% to 10% for next 3 months. However, for government PSUs it will remain 12% but PSU employees can pay 10%. This was one of the measures announced by the finance minister Nirmala Sitharaman at a press conference today. This will reduce the total contribution to an employee’s EPF corpus.
50% of surveyed households in rural India eating less
While 50 per cent of households in rural India have reduced the number of meals ever since the lockdown was imposed as part of immediate adjustment for food security, about 68 per cent of the households reduced the number of items in their meals.
Life insurance business in India to contract in 2020 due to COVID-19, says GlobalData
GlobalData has revised India’s insurance forecast in the aftermath of the global coronavirus (COVID-19) outbreak. As per the latest data, India’s life insurance market is forecasted to grow at a compound annual growth rate (CAGR) of 5.3% during the forecast period 2019-2023.
Coronavirus health effects could last for years for some survivors
Chronic cardiac complications could arise in patients even after recovery as a result of persistent inflammation, according to an April 3 paper by doctors at the Cedars-Sinai Medical Center in Los Angeles. They based their analysis on patient data from Italy and China.
UK Financial Services firms weigh options for Post-Coronavirus work arrangements
“As insurance moves to more remote working, there is a greater risk of fraud and hacking,” said Bruce Carnegie-Brown, chairman of the Lloyd’s of London insurance market.
Covid-19 Pandemic: UK’s Airmic calls for change in approach to insurers’ pandemic response
Greater collaboration and communication between businesses, insurers and brokers to allow innovation and opportunity to emerge from the crisis.
Looking beyond the COVID-19 pandemic, Airmic supports the creation of national catastrophic pooling and reinsurance mechanisms, such as the existing UK pools for terrorism and flood. They must, however, be embedded in broader national and international risk strategies and should themselves be pooled to ensure the efficient use of capital, the association continued.
Covid-19 Pandemic:U.S. businesses,patients sue China seeking damages from Coronavirus outbreak
So far, at least nine lawsuits have been filed in the U.S. against China claiming authorities there did not do enough to corral the virus initially, tried to hide what was happening in the outbreak center of Wuhan and sought to conceal their actions and what they knew.
Eight of the lawsuits are potential class actions that would represent thousands of people and businesses. One was filed by the attorney general of Missouri, which is so far the only state to take legal action against China.
National governments must help provide insurance for future lockdowns: EU Regulator
Britain, France and the United States are already looking at what role the state could play in pandemic cover in the future.
PM Modi to address the nation at 8 PM today
Today is the forty-ninth day of India’s nationwide lockdown, which is meant to stop the novel coronavirus pandemic. Known COVID-19 cases in India stand at 70,756. The death toll in India due to the outbreak has reached 2,293. Maharashtra, Gujarat, Tamil Nadu and Delhi have reported the highest number of cases.