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Munich Re to no longer cover events cancelled for pandemics

The world’s largest resinsurer is making the change after it faced large losses this year in the wake of the coronavirus crisis.

Torsten Jeworrek, who oversees the reinsurance segment, said that Munich Re would remain in the business but that the tweak in its strategy was a result of the pandemic. The resinsurer will also adjust prices for event cancellation coverage, he said.

The cancellation and postponement of sports events like the Olympics in Tokyo as well as concerts have been a major burden for Munich Re, which expects a total of 4 billion euros ($4.85 billion) in COVID-related losses.

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ADB’s $300 mn funding to strengthen India’s primary health care in urban areas

The ADB’s Strengthening Comprehensive Primary Health Care in Urban Areas Programme will support the Ayushman Bharat (the Healthy India Initiative) Health and Wellness Centres (AB-HWC) and PM-ASBY to ensure equitable access to quality comprehensive primary health care services in urban areas in 13 states.

The programme will benefit an estimated 256 million urban residents, including 51 million from the slum areas of Andhra Pradesh, Assam, Chhattisgarh, Gujarat, Haryana, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Telangana and West Bengal.

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Officer unions demand to include bankers as frontline Covid warriors for vaccination

In a letter written to Finance Minister Nirmala Sitharaman, unions said the government is expecting at least two vaccines against Covid-19, Bharat Biotech’s Covaxin and Oxford’s Covishield, to be available possibly in January 2021; and there is a plan to inoculate the frontline Covid warriors including those working in healthcare, police, sanitary workers, etc.
Bankers have been providing yeoman service ever since the announcement of lockdown and have continued to provide required banking services, it said, adding bankers have been instrumental in keeping the wheels of the economy moving despite hazards and constraints.

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Travel restrictions effective in countries with low number of Covid-19 cases: Lancet study

“We recognise that these measures carry a high economic and social cost, so it is important that governments use travel restrictions in a targeted way,” said Professor Mark Jit from the London School of Hygiene and Tropical Medicine, who led the study.

“Before introducing restrictions, they should take into account local infection figures, epidemic growth rates, and the volume of travellers arriving from countries heavily-affected by the virus,” Jit explained.

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Large US study confirms Covid-19 complications: lung, kidney and cardiovascular issues

The most common complications associated with Covid-19 were pneumonia, respiratory failure, kidney failure, and sepsis or systemic inflammation, consistent with other studies.The researchers also found associations with a range of other lung and cardiovascular conditions, such as collapsed lung, blood clotting disorders and heart inflammation, although the risk of these was relatively low

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Covid-19 antibodies may fade very quickly: Study

The authors said their findings may raise important questions about the reliability of seroprevalence studies, since the rapid waning of antibody titters may lead to an underestimation of how many people may have been previously infected in a given population.

“The decrease in antibodies after infection also raises the question of how long antibodies elicited by vaccination will last, and whether frequent boosting will be needed to maintain protection,” the authors noted.

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