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Marsh’s Alex Rosati to join as Asian claim head of WTW for its Corporate Risk & Broking business
Alex Rosati In his role with WTW, Alex will focus on all aspects of...
Canopius announces Andy Haste as Group Chairman
He has deep insurance expertise; his former roles include group...
Death of Covid patients due to oxygen crisis ‘not less than genocide’: HC
“We are at pain in observing that death of Covid patients just for non supplying of oxygen to the hospitals is a criminal act and not less than a genocide by those who have been entrusted the task to ensure continuous procurement and supply chain of the liquid medical oxygen,” read the order by a bench of Justice Ajit Kumar and Justice Siddhartha Varma.
Third wave of COVID ‘inevitable’: Government
“Phase three is inevitable given the higher levels of circulating virus, but it is not clear on what time-scale this phase three will occur.We should be prepared for new waves,” said K Vijay Raghavan, the principal scientific advisor to the Centre.
Khuntia panel submits report to centre on increasing country’s insurance penetration
Subhash Chandra Khuntia, chairman, IRDAI, revealed that a proposal to initiate pilot projects covering some states or districts prone to natural disasters like cyclone and flooding has been sent to the government and the National Disaster Management Authority(NDMA).
The idea is to cover all dwelling units in a vulnerable geographical area against natural catastrophes. The cost of coverage upto a limit can be funded by the Government and the owners can pay additional premium for higher coverage. Since dwelling unit insurance is very cheap, this is quite affordable and feasible and will save Government expenditure in terms of compensation to the affected after the incident,’..
Looking at the size of India in terms of population, geographical spread, diversity and low insurance penetration, there is tremendous scope to have more insurance companies. The market is far below the saturation point.
WTO mulling intellectual property waivers for vaccines
The argument, part of a long-running debate about intellectual property protections, centers on lifting patents, copyrights, and protections for industrial design and confidential information to help expand the production and deployment of vaccines during supply shortages. The aim is to suspend the rules for several years, just long enough to beat down the pandemic.
The issue has become more pressing with a surge in cases in India, the world’s second-most populous country and a key producer of vaccines, including one for Covid-19 that relies on technology from Oxford University and British-Swedish pharmaceutical maker AstraZeneca.
Debris from China space rocket likely to fall in international waters -Global Times
“All debris can be potential threats to spaceflight safety and the space domain,” the Pentagon said, adding that the 18th Space Control Squadron in California would be offering daily updates on the rocket body’s location from May 4. The White House said the United States was committed to addressing the risks of congestion due to space debris and wants to work with the international community “to promote leadership and responsible space behaviors.”
India’s Covid deaths could double in coming weeks, forecasters warn
While coronavirus cases can be hard to predict, particularly in a sprawling nation like India, the forecasts reflect the urgent need for India to step up public health measures like testing and social distancing. Even if the worst estimates are avoided, India could suffer the world’s biggest Covid-19 death toll. The U.S currently has the largest number of fatalities at around 578,000.
Two pandemics clash as doctors find that Covid spurs diabetes
Among Covid-19’s many ripple effects, the worsening of the global diabetes burden could carry a heavy public-health toll. The underlying mechanisms stoking new-onset diabetes aren’t clear, though some doctors suspect the Sars-CoV-2 virus may damage the pancreas, the gland that makes insulin which is needed to convert blood sugar into energy.
Sedentary lifestyles brought on by lockdowns could also be playing a role, as might late diagnoses after people avoided doctors’ offices. Even some children’s mild coronavirus cases can be followed by the swift onset of diabetes, scientists found.
IRDAI suggests model insurance villages to increase insurance penetration in rural areas
“The concept may be implemented in a minimum of 500 villages in different districts of the country in the first year and increased to a minimum of 1,000 villages in subsequent two years,” the paper said on which the insurance regulator has invited comments from stakeholders by May 17.
It also said the choice of villages is to be made carefully, considering various relevant aspects and parameters in order to implement the concept successfully for a period of three to five years.
SC asks Centre to inform about settlement of insurance claims of healthcare professionals
“We direct the Central Government to inform this Court as to how many claims are pending under the Scheme, and the timeline within which the Central Government expects to settle them,” the bench, also comprising L Nageswara Rao and S Ravindra Bhat, said in its order uploaded on late Saturday night.
COVID-19: India records 3,57,229 new cases in single day,tally crosses 2-crore mark
Registering a steady increase, the active cases have increased to 34,47,133 comprising 17 per cent of the total infections, while the national COVID-19 recovery rate was recorded at 81.91 per cent, the data updated at 8 am showed.