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Insurers cite Swedish example in bid to dodge Covid-19 biz income payouts

The court case is one of a number of battles across the world, where insurers and clients are fighting over whether coverage extends to measures taken by governments to halt the spread of coronavirus. In France, AXA SA was ordered by a Paris court last month to compensate a restaurant owner for two months of virus-related losses.

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Insurers’ reliance on investments make them vulnerable due to COVID-19, says GlobalData

“Investments held in corporate bonds are particularly vulnerable to the impacts of an economic recession, with some businesses likely to default on payments. Insurers operating in the US are heavily invested in corporate bonds compared to their UK counterparts, and US life insurers in particular are more vulnerable to the downturn – given almost three quarters of their investments are in this area. This is especially true in the life sector where there is a 49.7 percentage-point difference between investments in corporate bonds. It also illustrates that the UK has a certain amount locked up in the relatively safe government securities, while this is not available in the US.”

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US expects insurers to cover COVID vaccine without copays

Health insurers cover vaccines recommended by the Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices. They’re considered a preventive service, and the Affordable Care Act requires insurers cover them at no charge to patients. A range of screening tests, immunizations and birth control for women are already covered under the Obama-era Affordable Care Act. However, the Trump administration is pressing the courts to overturn Obamacare as unconstitutional.

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Non-payment of salaries to medics a criminal offence: Govt to inform states

A bench comprising Justices Ashok Bhushan, Sanjay Kishan Kaul and M.R. Shah asked the Centre to issue necessary directions to states and Union Territories, and sought a compliance report in four weeks.
The top court noted that non-adherence to the Centre’s direction by states will be treated as an offence under the Disaster Management Act and sections of the Indian Penal Code.

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