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India’s daily COVID-19 cases rise by record 346,786 – health ministry
Ten states, including Maharashtra, Uttar Pradesh, and Delhi, reported 74.15 percent of the new COVID-19 cases reported in a day, the Union health ministry said on Saturday.
“The situation in India is a devastating reminder of what the virus can do,” World Health Organization chief Tedros Adhanom Ghebreyesus told a virtual briefing in Geneva.
FM asks IRDAI to act against insurers for denying cashless claims
‘Reports are being received of some hospitals denying cashless insurance. Spoken to Chairman, IRDAI Shri SC Khuntia to act immediately. In March’20 #Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals,’ the minister said in a series of tweets.
The Insurance Regulatory Development Authority of India (IRDAI), she added, has asked insurance companies to prioritise settlement of COVID claims.
`Insurer can’t invest more than 10% of their outstanding debt in a single InvIT/REITs issue’
-The cumulative Investments in Units and Debt Instruments of InvITs and REITs shall not exceed 3% of total fund size of the Insurer at any point of time.
– No investment can be made in Debt instruments of an InvIT/REIT where the sponsor is under the promoter group of the insurer.
Investment in Debt Instruments of InvIT will form part “Infrastructure Investments”.
SC wants “national plan” on Covid-19 situation, including on oxygen supply; Del HC says “country being run by God”
While the top court ‘suo motu’ (on its own) took note of the “grim” situation in the country and the havoc caused due to shortage of oxygen cylinders in hospitals, the Delhi High Court observed, “We all know that this country is being run by God,” a day after it came down heavily on the Centre over the Covid-19 management.
India reports highest single-day spike with 3,32,730 new COVID-19 cases
The country has recorded 2,263 new deaths due to COVID-19 in the last 24 hours. As many as 1,86,920 people have succumbed to the viral infection in India so far. There are 24,28,616 active COVID-19 cases in the country now
Over 21k tested positive for COVID after taking first dose of either Covishield or Covaxin: Gov
Of Covishield, 11.6 crore doses have been given. Ten crore received the first dose and 17,145 i.e. 2 per 10,000 people contracted the infection. About 1,57,32,754 individuals took the second dose of covishield and of that 5,014 (0.03 per cent) got infected. Two to four per 10,000 breakthrough infections have occurred, a very small number. This was mainly healthcare workers prone to more occupational hazards, he said
UK Car insurance premiums drop to lowest level since 2015: WTW Survey
“The impact of fewer drivers on the roads has led to fewer claims, which have allowed shoppers to see some of the biggest savings on their car insurance in almost six years,” Chief Executive Officer of Confused.com Louise O’Shea said in the survey report.
Britain’s driverless car ambitions hit speed bump with insurers
Insurers are key players in the shift to automated driving, with some investing in a technology they believe will slash accidents and deaths, and save them billions in payouts.
But they are worried drivers might equate today’s lower levels of automation with fully self-driving vehicles, potentially causing more accidents in the short term and permanently damaging public confidence in the technology.
Covid-19 resurgence threatens vigorous global economic growth momentum
Emerging and developing economies accounted for two thirds of global growth before the pandemic and around 86% of the world’s population. The World Bank told them just this week that they must prepare for the possibility of their recoveries losing steam.
A nascent economic revival in India — the world’s sixth largest economy — is being threatened by renewed movement curbs across provinces to stem a new wave of infections that have topped 200,000 daily for the last week.
Insurers prefer private equity investments over Hedge Funds: Goldman Sachs Survey
Private equity was the most-favored asset class for insurers seeking to increase investment returns, followed by middle market corporate loans and infrastructure debt, the survey said.
Private equity returns in the past 10 years “have been strong and have outperformed other asset classes,” Michael Siegel, global head of insurance asset management at GSA, told a media briefing, which he said helped explain consistent insurer interest in the asset class in recent years.