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Floridians flee looming catastrophe as Hurricane Milton approaches
The storm was on a collision course for the Tampa Bay metropolitan...
Absence of major losses paves the way for competitive pricing in power insurance sector: WTW
A shift in appetite from coal to non-coal power and the phasing out...
ICICI Lombard Gen launches comprehensive covers for Drones
The comprehensive policy covers six types of risks. The Hull Cover covers any accidental loss/damage to the drone including theft and disappearance within the scope of the policy. Any loss due to wear and tear or gradual deterioration over time, as well as non-compliance with the DGCA guidelines, is not covered under this. The Payload Cover and Equipment Cover insures the accidental physical loss or damage of the payload, while the same is attached to the drone, and to the property being spares, engines and associated equipment, respectively.
A third of India Inc sees deterioration in financial health in June qtr: Report
A falling GST compliance score clearly indicates that the financial health of nearly one-third of businesses being monitored deteriorated in Q1 of FY22, suggesting higher risk levels in the quarter, said Kaushal Sampat, co-founder of Rubix, which is an analytics-based B2B risk management and monitoring platform.
Mercedes-Benz rolls-out ‘Marketplace’ direct selling platform for used luxury cars
The platform is expected to boost pre-owned car business and online penetration for used cars, which currently remains at 20 per cent, the company said, adding with its introduction, the penetration is expected to go up to 50 per cent.
Covid jabs may not provide absolute protection but reduces risk of death, complications: Soumya Swaminathan
The World Health Organisation’s chief scientist said there will be a need to be on guard in the months to come as well.
Parliament passes bill for privatisation of state-run general insurance companies
The General Insurance Business (Nationalisation) Amendment Bill, 2021, was passed by a voice vote in the din in a matter of minutes, with Finance Minister Nirmala Sitharaman not replying to brief points raised by MPs.
Stricter emissions rules will hit car sales, says Maruti Suzuki chairman
Automakers last week urged the government to defer tougher emissions standards, which are due to be implemented in two stages in April 2022 and then in 2023. The changes will require carmakers to cut emissions about 13% to 113 grams a kilometer.
German and Chinese insurers endure their costliest natural disasters as IPCC confirms rise in extreme weather events: Aon report
Total economic losses due to catastrophic events across the globe exceed $52 billion. Seasonal monsoon flooding and associated convective storms continued in India throughout July, including a particularly intense spell from July 22-28. Hundreds of people were killed in July as the seasonal death toll rose to 534. The total economic loss in India increased to at least $1.6 billion; most of which is uninsured.
Delta tears across US, cases and hospitalisations at six-month high
Nationwide, Covid-19 cases have averaged 100,000 for three days in a row, up 35 per cent over the past week, according to a Reuters tally of public health data. The surge of the disease was strongest in Louisiana, Florida and Arkansas.Hospitalisations rose 40 per cent and deaths, a lagging indicator, registered an 18 per cent uptick in the past week with the most fatalities by population in Arkansas.
Munich Re remains bullish on India despite hit hard with Covid-19 mortality claims
“In life and health reinsurance business, the claims clearly exceeded the our expectation of €140 million of virus-related losses in the second quarter, mainly due to the high mortality rate in India and South Africa,” he said
COVID-19: India’s drug regulator approves study on mixing of Covaxin and Covishield doses
Separately, a recent study by the Indian Council of Medical Research (ICMR) involving 98 people, 18 of whom had inadvertently received Covishield as the first dose and Covaxin as the second in Uttar Pradesh, showed that combining these two COVID-19 vaccines elicited better immunogenicity than two doses of the same vaccine.
The study also found that immunisation with combination of Covishield and Covaxin was safe and the adverse effects were also found to be similar when compared to the same dose regimen.