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Munich Re retains its top position, Asian reinsurers lose rankings in AM Best’s 2022 global list
All the top three Asian reinsurers, China Re, Korean Re and GIC Re,...
Airlines need to strictly enforce COVID-19 protocol, including mask mandate: DGCA
Airlines have to ensure that passengers are wearing face masks...
Coronavirus wreaks financial havoc as infections near 100,000
European stocks continued their slide after the Japanese market dropped to a six-month low, with 97% of shares on the Tokyo exchange’s main board in the red.
Lawsuits against businesses over Coronavirus have begun. More to come?
Hospitals, restaurants, day care centers, nursing homes and hotels may face claims that they didn’t take adequate steps to protect people. Shareholders can sue if companies fail to act effectively in response to the epidemic. Businesses are scrambling to see if their insurance policies cover disruptions caused by the virus. Governments are reviewing their quarantine powers.
Coronavirus does not spread through chicken, mutton, seafood: FSSAI chief
On March 2, poultry breeders demanded a relief package from the government claiming that the sector has incurred heavy losses of around Rs 1,750 crore in a month due to fake news that eating chicken could spread coronavirus.
Existing health policies cover coronavirus:GI Council
To increase awareness about non-life insurance, GI Council, the apex body of general insurers, with support from the Insurance Regulatory Authority of India (IRDAI), has launched an awareness and education campaign – Faayde Ki Baat.
India’s $476 billion forex firepower can help arrest rupee’s panic drop
Citibank on Wednesday said the rupee appeared to have over-reacted to confirmation of the new virus cases and it recommends buying bullish rupee exposure via options. India’s link to the global supply chain is limited and the current-account deficit may narrow due to the virus’ impact on economic activity and lower commodity prices, strategist Gaurav Garg wrote in a note.
Coronavirus outbreak: World Bank announces up to $12 bn in immediate funds
Meanwhile, negotiators in the U.S. House of Representatives and Senate neared a deal on Wednesday on a multi-billion-dollar emergency bill to battle the coronavirus as they narrowed differences over the cost of potential vaccines, congressional aides said.
China’s economic slump over Coronavirus to cut global exports by $50 bn: UN
The study pointed out that China’s role as a central manufacturing hub for many global businesses meant that “any disruption of China’s output is expected to have repercussions elsewhere through regional and global value chains.”
Parametric insurance could offer hotels relief from Coronavirus cancellations
The new hotel product is led by Tokyo Marine Kiln (TMK) and underwritten by Chaucer, Munich Re Syndicate, Beazley, Faraday and AXIS.
Coronavirus may force companies to rethink global supply chains: OECD Economist
The sprawling, continent-crossing supply chains of corporations have already come under pressure from trade tensions and climate concerns, and may face further stress as countries change global taxation rules. If and when the dust settles from the coronavirus, OECD’s chief economist Laurence Boone said firms will likely pause to reconsider what they do.
What if you can’t afford to fight Coronavirus?
Nearly three-quarters of all deaths from infectious disease in 2016 happened in sub-Saharan Africa, South Asia and Southeast Asia. While just 5% of Europeans die from infections, the rate in Africa is more than 40%.(2) Conditions such as HIV, diarrhea and malaria have seen precipitous declines south of the Sahara in recent years, but diseases of the nose, throat and lungs like influenza remain far more prevalent. After cardiovascular and neonatal conditions, respiratory infections are now the leading cause of death in Africa.