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Oak Reinsurance launches Syndicate 2843, receives Lloyd’s nods to underwrite
OAK Re is launching Syndicate 2843 in collaboration with blue chip...
Rapid increase of Himalayan glacial lakes, NGT issues notice to Centre others
Taking cognisance of a news report showing about 10.81 per cent...
Global COVID-19 toll surpasses 4.5 million, US daily average for new cases increases
The European Union is set to recommend halting nonessential travel from the US because of the spread of COVID-19, according to The Wall Street Journal. Diplomatic sources told the newspaper on Sunday that a final decision on the issue is expected on Monday.
Climate Change: Insurers can afford to drop Oil and Gas—but many won’t
To date, just one insurer has promised to take “significant action” in this regard, according to analysts at Societe Generale SA.
Australia’s Suncorp was the first to announce it would no longer provide coverage for all new oil and gas production projects.While insurers (23 in all) have moved to end their underwriting of coal-related activities, they have been slow to act on oil and gas. That’s mainly because the insurance market for those fossil fuels is considerably larger, with estimated premiums of more than $17 billion in 2018, compared with $6 billion for coal power, said Peter Bosshard, program director at the Sunrise Project and global coordinator of Insure Our Future (IOF).
Japan’s Fukushima nuclear water to be released via undersea tunnel
The government decided in April to start discharging the water, after further treatment and dilution, into the Pacific Ocean in spring 2023 under safety standards set by regulators. The idea has been fiercely opposed by fishermen, residents and neighboring countries including China and South Korea.
The offshore discharge using a pipeline enclosed inside a concrete tunnel is an attempt to minimize the “reputational damage” that would occur if the contaminated water is released close to marine life off the Fukushima coast.
Climate Change: 80% of South Mumbai will be under water by 2050, Mumbai municipal commissioner
Mumbai municipal commissioner Iqbal Singh Chahal said that Mumbai is the first city in South Asia that is preparing its climate action plan and acting on it.
“Earlier, we used to hear about climate change events like melting glaciers, but not directly affecting us. But now it has come to our doorstep,” he added.
Chahal said that last year for the first time in 129 years, a cyclone (Nisarga) hit Mumbai and thereafter in the last 15 months, there have been three cyclones. After that, on August 5, 2020, about 5 to 5.5 feet water was accumulated at Nariman point.
Covid most transmissible 2 days before, 3 days after symptoms appear: Study
“Our results suggest that the timing of exposure relative to primary-case symptoms is important for transmission, and this understanding provides further evidence that rapid testing and quarantine after someone is feeling sick is a critical step to control the epidemic,” Martinez said.
Half of hospitalised Covid patients have persisting symptoms after a year: Lancet study
“Our study is the largest to date to assess the health outcomes of hospitalised COVID-19 survivors after 12 months of becoming ill,” said Professor Bin Cao, from China-Japan Friendship Hospital.
“While most had made a good recovery, health problems persisted in some patients, especially those who had been critically ill during their hospital stay,” Cao said.
India adds 46,759 new COVID-19 infections, Kerala logs 32,801 cases
India administered more than 10 million vaccine doses in the past 24 hours, a national record that Prime Minister Narendra Modi called a “momentous feat” for the country ahead of fears of another surge in infections. India has administered more than 622 million vaccine doses in total, giving at least one dose to more than half of its 944 million adults.This has been achieved through 67,19,042 sessions.
Covid-19’s Delta variant doubles hospitalisation risk, finds study
“Our analysis highlights that in the absence of vaccination, any delta outbreaks will impose a greater burden on healthcare than an alpha epidemic,” said Anne Presanis, one of the study’s lead authors and a senior statistician at Cambridge. “Getting fully vaccinated is crucial for reducing an individual’s risk of symptomatic infection with delta.”
Jan Dhan accounts exceed 430 mn in 7 yrs, total deposits over Rs 1.46 trn
This national mission was launched to ensure people have access to financial services, namely, banking, remittance, credit, insurance, pension in an affordable manner.
On the road ahead, the finance ministry said, eligible PMJDY account holders will be sought to be covered under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
As on August 18, 2021, the number of total PMJDY accounts stood at 430.4 million. Of this, 55.47 per cent (23.87 crore) Jan-Dhan account holders are women and 66.69 per cent (28.70 crore) holders are in rural and semi-urban areas, the finance ministry said in a statement.
Out of total 430.4 million PMJDY accounts, 368.6 million or 85.6 per cent are operative, and the average deposit per account is Rs 3,398, as per the statement.
Increase in average deposit is another indication of increased usage of accounts and inculcation of saving habit among account holders, it said.
Air passenger volumes remain weak in contrast to robust cargo demand: AAPA
More than a year into the pandemic, strict border restrictions and quarantine measures continue to have a devastating impact on international air travel, said Subhas Menon, AAPA Director General.
“By contrast, air cargo remains the single bright spot for the region’s airlines, with strong external demand boosting cargo revenue. However, this remains largely insufficient in mitigating the drastic fall in passenger volumes.” Menon said progress in vaccination rollouts across the region remains slow as many countries still face challenges in procuring supplies and suffer from resource constraints.