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Need to focus on improving airlines viability; ensure environmental sustainability: Eco Survey
"The aviation industry in India is on the cusp of unprecedented...
Insurers face business interruption claims after global tech outage
"Some cyber insurance policies exclude non-malicious events, and...
Singapore’s population growth slows down to 1.1% in 2010-20 decade
The total population increased from 5.08 million in 2010 to 5.69 million in 2020. Within this, the citizen population grew from 3.23 million to 3.52 million, while the permanent resident population remained ”stable” at around 0.5 million, it added.
The number of non-residents rose from 1.31 million to 1.64 million.
US Justice Department sues to block Aon’s acquisition of Willis Towers Watson
“Today’s action demonstrates the Justice Department’s commitment to stopping harmful consolidation and preserving competition that directly and indirectly benefits Americans across the country,” said Attorney General Merrick B. Garland.
Delhi bans soaps, detergents not conforming to latest BIS parameters
The National Green Tribunal (NGT) had in January accepted recommendations of the Yamuna Monitoring Committee (YMC) which had suggested directing the Delhi government to issue orders “prohibiting sale, storage and transportation and marketing of detergents which do not conform to the revised BIS standards”.
The primary reason behind the formation of the toxic foam in the Yamuna is high phosphate content in the wastewater because of detergents used in dyeing industries, dhobi ghats and households, according to an official of the Central Pollution Control Board.
Govt plans Rs 50,000 cr programme to boost health infrastructure: Report
The program will allow companies to access funds for ramping up hospital capacity or medical supplies with the government acting as a guarantor, said the people, who asked not to be identified citing rules. The focus is likely to be on strengthening Covid-19 related health infrastructure in smaller towns,.
India:Amid unlock, Doctors warn of ‘Worse Than Second Wave’ situation if norms not followed
Medical experts in mid-May had concurred that it was lockdown majorly that had brought down the count of daily cases, while cautioning that the severity of cases was still the same.
Covishield dose interval under discussion: NTAGI Working Group Chairman
“Decision to increase the gap between administering 2 doses of COVISHIELD has been taken in a transparent manner based on scientific data. India has a robust mechanism to evaluate data. It’s unfortunate that such an important issue is being politicised!,” said Vardhan on Twitter.
AXA XL appoints new leadership for Global Political Risk, Credit & Bond
AXA XL underwrites PRCB coverages to large organizations on a global basis. This class includes Political Risk insurance, Credit insurance covering the non-payment of debt obligations and providing commercial bonding requirements around the globe.
Hedge Funds remain an option for some insurers
The life/annuity segment raised its dollar exposure in hedge funds 5.8%, to $5.4 billion, and the property/casualty segment, 5.5%, to $6.6 billion.
Several qualities made hedge funds attractive to investors during the pandemic, including risk diversification and a low correlation to other asset classes. The hedge fund industry still lost approximately $44.5 billion in asset flows in 2020, according to the report, but that is nearly half the amount pulled out in 2019.
UK COVID-19 BI claims exceed $1 Billion; About half of claims Paid
In total, 16,159 claims have been paid in full out of 37,702 claims that have been accepted by insurers for a final clearance rate of 42.86%.
Aggregate claims paid has risen by 7.9% since the last FCA report, which showed £701.4 million in claims paid. Insurers have made initial or final payments on 53.97% of BI claims that have been accepted by the carriers.
The payments are being made after the U.K. Supreme Court ruled in a BI test case in April. It found insurers are liable for the COVID-19-related business interruption claims of about 370,000 policyholders under policies written before the outbreak and never designed to cover pandemic claims.
Narayan Murthy’s Anviti Insurance Brokers rebranded as Aon India
.“So going forward, after the full intergration of Wills Tower Watson into Aon globally, there will be further changes on how Aon will operate in the Indian market, if it decides to operate through partnership,” said sources.