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Trinidad and Tobago receives $2.4 million parametric payout as excess rainfall claims
Due to different hazard risk profiles for each of the islands in the twin-island republic, the Government purchases two separate CCRIF policies for excess rainfall – one for Trinidad and one for Tobago. This payout is being made on the excess rainfall policy for Trinidad.
Since Trinidad and Tobago purchased coverage for excess rainfall in 2017, the country has received payouts under its excess rainfall policy each year – five payouts totalling US$12.5 million. The Government of Trinidad and Tobago also has cover for tropical cyclones (one policy for Trinidad and one for Tobago) and for earthquakes.
Biden to outline plan to curb coronavirus Delta variant as cases grow
Reuters data shows that more than 20,800 people have died in the United States from COVID-19 in the past two weeks, up about 67% from the prior two-week period. Hospitalizations have grown, with seven U.S. states – Alaska, Georgia, Hawaii, Idaho, Kentucky, Tennessee and Washington – reporting records this month.
According to the U.S. Centers for Disease Control and Prevention, 62.3% of Americans have received at least one vaccine dose and 53% – 176 million people – are fully vaccinated.
Karnataka govt issues advisory to prevent Nipah virus outbreak
As per the information shared by the state Department of Family and Health Welfare, the advisory instructs the district administrations to monitor the arrivals from Kerala for symptoms like fever, altered mental status, severe weakness, headache, respiratory distress, cough, vomiting, muscle pain, convulsion and diarrhoea.
Major U.S. insurers jump on distribution platforms to gain customers, sales
The powerful new platforms, including Semsee, bolttech, Bold Penguin and Uncharted, pull data from many carriers, allowing agents to see multiple quotes for policies, much the way travel agents see competing air fares.
Chubb Ltd, Travelers Companies Inc and Liberty Mutual have signed on recently as have agencies that also sell policies, executives said.The growth of digital distribution represents a shift in how insurers compete in markets for auto and homeowner coverage as well as business and commercial lines worth hundreds of billions of dollars annually, experts said.
Carriers also benefit from being able to meet more of a customer’s needs, even if they are not selling their own policy.
Climate NGOs in Germany threaten legal action against VW, Daimler, BMW
Lawyers Remo Klinger and Roda Verheyen, who represented plaintiffs in a groundbreaking case in May which concluded that Germany must set out by end of next year how it will bring carbon emissions to nearly zero by 2050, will represent the NGOs, DUH’s statement said.
Reinsurance outlook changes to stable as sector raises prices amid economic recovery:Moody’s
Price increases will drive stronger earnings for reinsurers through 2022 amid the post-pandemic economic recovery
Capitalization remains solid with solvency ratios well above regulatory thresholds
Uncertainty over Covid liabilities has diminished although pandemic-related claims continue to affect earnings for some large multiline reinsurers in 2021, driven by higher than expected mortality claims. The pandemic has caused reinsurers to take a more prudent stance towards systemic risk management, including communicable disease, cyber events and climate change.
$25–$35 billion insured losses in Gulf of Mexico from hurricane Ida: RMS
Losses reflect property damage and business interruption to residential, commercial, automobile, industrial, infrastructure, marine cargo and specie, watercraft, and other speciality lines of business, along with post-event loss amplification (PLA) and non-modeled sources of loss.
Global bodies join hands to launch 500 actions to reduce environmental health burden
Environmental pollution and other environmental risks cause 24 per cent of deaths through, for example, heart disease, stroke, poisonings, traffic accidents, and others, all of which could at least be substantially reduced, if not eliminated, through bold preventive action at national, regional, local and sector-specific levels.
Air pollution alone leads to 7 million deaths each year, while climate change is expected to contribute increasingly to a broad range of health impacts, both directly and indirectly through effects on biodiversity.
Shareholders may pursue 737 MAX claims against Boeing board, court rules
Zurn’s ruling in the Court of Chancery said the first of the two fatal 737 MAX crashes was a “red flag” about a key safety system known as MCAS “that the board should have heeded but instead ignored.
India reports 38,948 new COVID-19 cases, Kerala adds 26,701 infections
The death toll climbed to 4,40,752 with 219 fresh fatalities. A total of 43,903 recoveries in 24 hours has increased the total recovery count to 3,21,81,995.