Category:

Non-Life

IRDAI modifies norms to check arbitrary rise of health premiums by insurers

The IRDAi has said the appointed actuary of an insurance company should review the financial viability of every health insurance product at the end of every financial year and the report of such review should be submitted to their board along with the analysis of favorable or unfavorable experience of each product as well as recommended corrective action, to ensure sustainability of the product and to protect the interests of policyholders of the underlying product.

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British Airways calls for vaccinated people to travel without restrictions

He wants government to give its backing to health apps that can be used to verify a person’s negative COVID-19 test results and vaccination status. Apps will be key to facilitating travel at scale, the industry has said. Airline staff checking paperwork takes 20 minutes per passenger and is not practical if large numbers of passengers return.

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Regular booster vaccines are the future in battle with COVID-19 virus, top genome expert says

“We have to appreciate that we were always going to have to have booster doses; immunity to coronavirus doesn’t last forever,” Peacock told Reuters at the non-profit Wellcome Sanger Institute’s 55-acre campus outside Cambridge.

“We already are tweaking the vaccines to deal with what the virus is doing in terms of evolution – so there are variants arising that have a combination of increased transmissibility and an ability to partially evade our immune response,” she said.

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Facebook finds social media users responsible for spreading vaccine doubt

“Public health experts have made it clear that tackling vaccine hesitancy is a top priority in the COVID response, which is why we’ve launched a global campaign that has already connected 2 billion people to reliable information from health experts and remove false claims about COVID and vaccines. This ongoing work will help to inform our efforts,” Facebook representative Dani Lever said. 

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US and Canada transactional risk insurance market reaches record highs

From 2015 to 2019, rates for representations and warranties (R&W) insurance steadily declined. That trend, however, halted in 2020. 2020 marks the first year that primary rates are sitting above 3% since 2017, which we attribute principally to two factors: An increase in the frequency and severity of transactional risk claims.

“Surge pricing” during the flood of deal activity in the fourth quarter. Claims concerns continue to influence insurers’ approaches to pricing, and we expect rate increases to continue in the short-to-medium term.

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