According to the Indian Meteorological department, 'Remal' has...
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Ayush ministry’s event on Monday for linking Ayush hospitals with insurance industry
The program will discuss the regulatory framework and policy...
Singapore’s Income Insurance targets Asia Pacific expansion
Established in 1970, Income Insurance serves about 1.7 million...
India reports more than 200,000 new COVID-19 cases for first time
Dislodged ship held in Suez Canal as talks continue over $916 million claim
The decision to hold the ship could impact its cargo, said Jai Sharma, a lawyer at Clyde & Co. “I anticipate that there will be companies that are going to air freight cargo replacements,” he said.
COVID-19: Ten states account for over 80 per cent of new cases
India’s daily new cases continue to rise. A total of 1,61,736 new cases were registered in a span of 24 hours.
Maharashtra has reported the highest daily new cases at 51,751. It is followed by Uttar Pradesh with 13,604 while Chhattisgarh reported 13,576 new cases.
India, overwhelmed by COVID surge, fast-tracks approval for foreign vaccines
Pharma major Dr Reddy’s on Tuesday said it has received regulatory approval for emergency use of Sputnik V, which will be imported from Russia, paving the way for the third COVID vaccine in India.Vaccines authorised by the World Health Organization or authorities in the United States, Europe, the United Kingdom and Japan “may be granted emergency use approval in India, mandating the requirement of post-approval parallel bridging clinical trial”, the health ministry said in a statement.
“The first 100 beneficiaries of such foreign vaccines shall be assessed for seven days for safety outcomes before they are rolled out,” it said.
Aon, seeking EU nod on $30 billion Willis bid, offers to sell assets
Aon has proposed the sale of businesses in France, Germany, the Netherlands and Spain, including financial and professional lines and aerospace and cyber activities, the person said.
The package of concessions also includes corporate risk- broking activities in some other countries while a potential buyer examines those assets, the person said.
7% growth in global reinsurance capital in 2020, combined ratios improve: Willis Re
James Kent, Global CEO, Willis Re, said: “Such a solid development of the global reinsurance industry’s capital base would hardly have been expected earlier last year, as the COVID-19 pandemic was gathering pace. Willis Re’s analysis provides clear evidence of the strength and resilience of reinsurance market capacity. Reinsurers and insurers alike must contend with the challenges of low interest rates. But, looking through the turbulence of COVID-19 and nat cat claims, and a declining reliance on reserve releases, there is a clear improving trend in underwriting profitability.”
Berkshire Hathaway Specialty Insurance Names Idie Si as Head of Accident & Health Insurance, Asia
“Idie’s appointment reinforces our commitment to the A&H space across the region, where we see tremendous opportunities to further serve our brokers and customers.”
‘Average’ Atlantic hurricane season to reflect more storms
The updated averages for the Atlantic hurricane season have increased with 14 named storms and 7 hurricanes. The average for major hurricanes (Category 3, 4 or 5) remains unchanged at 3. The previous Atlantic storm averages, based on the period from 1981 to 2010, were 12 named storms, 6 hurricanes, and 3 major hurricanes.
Aon launches innovative industry collaboration to protect global COVID-19 vaccine shipments
The solution provides transparent cargo insurance coverage for COVID-19 vaccines by combining sensor data and analytics. The offering enhances All Risk Marine Cargo insurance with timely payment for doses that fall outside of the agreed-upon temperature range while being transported or stored, enabling more effective risk management and claims support. Real-time reporting of any temperature deviation will also provide for the mitigation of losses and help maximize the number of doses that are administered to the public.
Maharashtra imposes 15-day lockdown to slow COVID-19 spread
“All essential industries to function at full capacity. All establishments, public places will remain closed, except essentials. Public transport will continue to function only for essential workers and in emergency and for essential activities for general public,” said Thackeray .