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Covid-19 Pandemic:IRDAI asks insurers not to pay any dividends for FY 2019-20
“In view of the emerging market conditions, and to conserve capital with the insurance companies in the interests of the policyholders and of the economy at large,insurers are urged to take a conscious call to refrain from dividend pay-outs from profits pertaining to the financial year ending 31st March 2020, till further instructions. This position shall be reassessed by the IRDAI based on financial results of insurers for the quarter ending 30th September, 2020,” said IRDAI on Friday.
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Developing economies could see sharper recession in 2020, World Bank warns
“Even if three months of mitigation measures prove effective in halting the pandemic, investors and households could remain skittish or local or global supply chains may not be restored,” wrote Ceyla Pazarbasioglu, vice president for equitable growth, and Ayhan Kose, director of the development prospects group.
Mortality rates drop sharply in parts of India, bucking coronavirus trend
But emergency room doctors, officials, and crematoriums noted that strict lockdowns had cut the number of road traffic accidents and deaths on India’s packed railways, and may also be deterring relatives from reporting a family death.
All over the world, mortality rates are being scrutinised to determine the true impact of the coronavirus, which emerged in China late last year and is known to have infected more than 2.7 million people globally, with nearly 190,000 deaths.
Monte Carlo Reinsurance Rendez-Vous de Septembre Canceled due to Coronavirus Crisis
The RVS has decided to make a donation of €100 000 (US$107,963) “to speed up scientific research in order to find a vaccine to combat Covid 19,”
Aarogya Setu app crosses 75 million downloads
Minister of State for Electronics and IT Sanjay Dhotre has asked the services of common service centres for providing telemedicine services, especially in remote parts, during this moment of crisis, as it will bring a much-needed relief to people who are finding difficulty in accessing medical services during this lockdown.
Insurers Hiscox and Beazley expect COVID-19 claims of up to $345 million
Hiscox said it expected to pay up to $175 million to settle claims if disruption from the COVID-19 pandemic that has put billions of people on lockdown lasts more than six months.That sum would decrease to up to $150 million if the disruption lasted six months or less.
U.S. unemployment waves keep hitting with millions more claims
The massive government stimulus package provides an extra $600 per week in unemployment benefits and expanded coverage to self-employed and other “gig” workers, presenting additional challenges for the states. Providing the additional aid has been wrought with technical issues and increased the number of applications flowing in.
Car insurers should repay premiums,British lawmakers say
Major U.S. motor insurers are offering credit to auto and motorcycle policy holders following a decline in driving, as most Americans stay at home under widespread orders to help contain the spread of the novel coronavirus.
U.S. coronavirus deaths top 47,000 after near-record increase on previous day
The United States has by far the world’s largest number of confirmed coronavirus cases at over 830,000. Cases rose 20,000 so far on Wednesday and were on track to continue the slow but steady decline seen throughout April.
India battles supply snags in race to build affordable ventilators
Before the pandemic, hospitals invested less in ventilators as they are expensive and the devices were available mainly in some hospitals in bigger Indian cities, Bhowmick added.
But companies are now pushing to make affordable devices.
Dynamatic Technologies is making a $33 ventilator that does not need electricity to function, while AgVa is aiming to make 10,000 ventilators by mid-May, priced under $2,000.
AgVa is collaborating with automaker Maruti Suzuki and state-run Bharat Electronics to make parts.