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COVID-19: India records 11,666 new cases, 147 districts record no new COVID-19 infections in last 7 days

The number of people who have recuperated from the disease surged to 1,03,73,606 pushing the national COVID-19 recovery rate to 96.94 per cent. The COVID-19 case fatality rate stands at 1.44 per cent.
“We have completed 42,674 sessions of vaccinations all over the country. As many as 23,55,979 people have been administered the COVID-19 vaccines so far and 3,26,499 health workers have received the vaccines in the last 24 hours,.”said Harsh Vardhan, Union Minister of Health and Family Welfare.

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Insurers face ‘mind-blowingly’ large loss if Olympics cancelled

The IOC and Japanese organizers have been adamant that another postponement isn’t an option. So it appears more likely the Games would have to be canceled, rather than postponed again, if they weren’t able to go ahead in Tokyo this summer.

Analysts at Jefferies have estimated the Tokyo Olympics is insured for around $2 billion, plus a further $600 million for hospitality.

The IOC takes out around $800 million of protection for each Summer Games, which covers most of the roughly $1 billion investment it makes in each host city.

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Investors sue AstraZeneca over share price drop on covid-19 vaccine testingprice drop on covid-19 vaccine testing

In the three days after the release of the test results in late November, AstraZeneca’s stock price dropped 5%, according to the lawsuit filed Tuesday by the public employees’ retirement system in Monroe County, Michigan.

Alleging “wrongful acts and omissions” by the company and its chief officers, the pension fund is asking to be allowed to sue on behalf of a class of all investors injured by the share price decline.

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Global insurance industry cross border deals total $5.27bn in Q4 2020

The value marked a decrease of 42.2% over the previous quarter and a rise of 47.2% when compared with the last four-quarter average of $3.58bn.

In terms of number of cross border deals, the sector saw a rise of 47.06% over the last four-quarter average with 25 deals against the average of 17 deals.

In value terms, North America led the activity with cross border deals worth $2bn.

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Governments, insurers should work together on global risks-executives

“Public-private partnerships are the only way to tackle climate risk,” insurance broker Willis Towers Watson  CEO John Haley said at a virtual meeting of the World Economic Forum.

Zurich Insurance CEO Mario Greco said insurers did not have the capacity to tackle climate and cyber risks alone, but neither should such problems be outsourced wholly to governments.Governments and insurers in Europe and the United States are considering state-backed reinsurance programmes for future pandemics, though some insurance sources have said progress has been slow, as governments focus their attention on dealing with the current crisis.

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