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$10 trillion lost globally due to COVID-19 pandemic and lockdowns:WHO Report
A report by the panel cited estimates that more than $10 trillion has been lost globally because of the COVID-19 pandemic and lockdowns to control its spread that has closed businesses and confined people to their homes. “Every effort to integrate beforehand health and finance will largely pay itself,” said Mario Monti ,former Italian prime minister chairs the WHO’s Pan-European Commission on Health and Sustainable Development .
It has recommended the G20 establish a Global Health Board which would work to prevent future pandemics by identifying risks, setting global benchmarks for preparedness, and promoting investment in health infrastructure.
HX launches in Asia to bring its data, digital and analytics capabilities closer to clients and carriers across the region
Goh Chye Huat, CEO, Howden Asia, said: “Our businesses across Asia have experienced tremendous growth over recent years. We have reached a scale where it is vital to have a market-leading engagement and distribution strategy. HX’s data and analytics capabilities are unrivalled in the market and we are delighted to have that offering available for our clients and colleagues in Asia.”
Ransomware attack hits 4 Asian countries of AXA subsidiary
he ransomware attack impacted information technology operations in Thailand, Malaysia, Hong Kong and the Philippines, the statement said. “As a result, certain data processed by Inter Partners Asia (IPA) in Thailand has been accessed,” it said.
269 doctors died due to COVID in second wave of pandemic: Indian Medical Association
Speaking to ANI, IMA president Dr JA Jayalal said, “Mortality among doctors is high as we are exposed to high viral load. We attain hundreds of patients whose infections are high. Also, many people come with symptomatic COVID, even their attendants are positive. So, doctors are exposed to this more.” “The working hours of doctors have been extended because the number of patients has increased. Keeping these all leads to high mortality among doctors. But this is not the case with doctors only, several deaths are occurring among the common public too,” added Dr Jayalal.
State-wise data by IMA shows 22 doctors died due to COVID-19 in Andhra Pradesh, 19 in Telangana, 14 each in Maharashtra and West Bengal, and 11 fatalities were reported in Tamil Nadu. It added that 10 doctors also died in Odisha, eight in Karnataka, and five in Madhya Pradesh.
India second largest insurtech market in APAC: S&P Report
”India is the second largest insurance technology market in Asia-Pacific. India has at least 66 insurtech companies and accounted for 35 per cent of the USD 3.66 billion in insurtech-focused venture capital invested in the APAC region. ”Insurance technology investors are attracted to India since it is one of the fastest-growing insurance markets in the world,” S&P Global Market Intelligence fintech analyst Sampath Sharma Nariyanuri said.
Demand, employment severely hit by 2nd wave of Covid: RBI
“The biggest toll of the second wave is in terms of a demand shock – loss of mobility, discretionary spending and employment, besides inventory accumulation, while the aggregate supply is less impacted,” it said.
Cyclone kills 19 in India, 127 missing after vessel sinks in
The cyclone Tauktae, which made landfall in the western state of Gujarat late on Monday, has hit power supply in 2,400 villages in the state as a thousand electricity pylons were damaged, Chief Minister Vijay Rupani said in a media address.
Nearly 160 roads have been destroyed, 40,000 trees uprooted and several houses damaged, Rupani added.
“The standing crops would have suffered definite losses, especially in areas of Saurashtra where the cyclone hit the hardest,” said Manish Bhardwaj, principal secretary at the state agriculture department. Before reaching Gujarat, the cyclone left a trail of destruction as it brushed past the coastal states of Kerala, Karnataka, Goa, as well as Maharashtra, home to India’s financial hub of Mumbai, authorities said.
India’s virus cases lower but WHO expert says positive tests ominously high
Even with a downturn over the past few days, experts said there was no certainty that infections had peaked, with alarm growing both at home and abroad over the new more contagious B.1.617 variant taking hold.
“There are still many parts of the country which have not yet experienced the peak, they are still going up,” World Health Organization Chief Scientist Soumya Swaminathan was quoted as saying in the Hindu newspaper.
Insurance for safeguarding employee value:Lloyd’s report
COVID-19 has exacerbated many of the risks involving human capital value. With the pandemic impacting the entire workforce globally, and many organisations still operating under a remote working model, the value of employees in achieving productivity is vital for business continuity. It is becoming increasingly apparent that talent attraction and retention, and employee wellbeing are not just intrinsically linked, they also have a direct impact on business performance.
Truckers demand relief measures as losses mount to Rs 42,000 cr due to lockdowns
He said that the per day industry’s losses have gone up to Rs 1,600 crore in May from Rs 400 crore in the beginning of April as more states announced lockdown and lockdown-like restriction in the subsequent period amid the massive spike in Covid-19 infection cases in the country. ”In the first 15 days of April, the industry was facing Rs 400 crore per day, which rose to Rs 800 crore per day by April 30.
They have now doubled to Rs 1,600 crore per day till May 15. So, as of May 15, the industry’s cumulative losses were a whopping Rs 42,000 crore,” said Singh. He said that the rising diesel prices, besides the impact of the lockdown was adding to the woes of the industry.