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Indian News

AM Best maintains negative outlook on India non-life insurance

However, in fiscal year 2021, despite India’s GDP contracting by approximately 8%, the non-life insurance market achieved a positive, albeit muted, growth rate of over 5%. Prospectively, AM Best expects the trajectory of non-life insurance premiums in India to continue to be one of growth over the long term with rising consumer awareness and accessibility of insurance products.
Factors that could lead AM Best to revise its segment outlook to stable from negative include evidence of sustainable improvement in underwriting performance, supported by better pricing discipline, as well as an improved balance of overall earnings and stabilised economic indicators.

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2.21 lakh hectare of crops damaged in Cyclone Yaas in Bengal, says Mamata

”Around 2.21 lakh hectare of crops and 71,560 hectare of horticulture have been damaged in West Bengal by Cyclone Yaas. The state has incurred a total loss of more than Rs 20,000 crore,” she told reporters at the secretariat.

Banerjee on May 28 submitted a report to Prime Minister Narendra Modi on the damages caused by the cyclone, and sought a Rs 20,000-crore package for redevelopment of the worst-affected areas.

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X-Ray Setu plans to on-board 10K doctors for COVID detection in rural areas

”We are planning to create a strong network of 10,000 doctors in the next 15 days who are trained in leveraging XraySetu, so that when the third COVID wave comes, we are ready with solutions that can reach doctors in rural areas,” said non-profit organisation Artpark CEO Umakant Soni.

He said that India had 5,335 rural community health centres (CHCs) as of March 31, 2019 that can be used and private estimates indicate that two-third of them have a working X-Ray machine and a technician to operate it.

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By July or early August, will have enough COVID-19 vaccine to inoculate 1 cr people a day: Centre

“Mixing of vaccine is not the protocol yet, same vaccines (Covishield and Covaxin) are to be administered for both doses. Stick to the SOP. There’s international research underway on the mixing of vaccines as the possibility of a positive effect is also plausible but a harmful reaction cannot be ruled out either. It is an unresolved scientific question, science will settle it,” said NITI Aayog’s V K Paul at the press briefing.

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