The 2023 Study, drawing on from 294 insurers covering 1,040...
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Bermuda insurer credit profiles supported by BMA regulatory reforms: Fitch
The Bermuda life insurance market has grown rapidly. Assets...
Africa Specialty Risks launches ASR Syndicate 2454 at Lloyd’s
Currently, only 2% of Lloyd’s business comes from Africa, something...
Stand-alone cyber insurance products to benefit both insurers and policyholders:S&P
Although cyber attacks and the resulting financial losses are on the rise, the cyber insurance market is underdeveloped. Cyber cover is often bundled into existing property or liability insurance policies, and in some cases, the policies do not explicitly include or exclude cyber cover at all. This gives rise to “silent cyber”, or the risk to insurers of losses from cyber-related claims on existing property or liability insurance policies.
International Conference On Disaster Resilient Infrastructure to be held from 17 – 19 March
ICDRI 2021 is a three-day interactive virtual conference • It will be held from 17 – 19 March 2021 • Prime Minister of India Narendra Modi is scheduled to make the inaugural speech for the event • ICDRI 2021 constitutes of a virtual exhibition – Marketplace • Online courses are being offered before, during and after the conference via Masterclass Register Now https://icdri.cdri.world/Register.html
Generali CEO says insurers can’t handle pandemic risk alone
“When the risk becomes systemic it is no longer insurable and obviously we need to use public money,” he said.
Donnet said the European Union and member states should work with the insurance and reinsurance industries to improve protection across the bloc.
French families sue over extensive nursing home virus deaths
Their complaint focuses on multiple issues at French homes for the elderly and disabled during the first half of 2020. Those flaws included mask shortages for residents and staff; testing shortages; the use of a powerful sedative called Rivotril on some residents while homes were locked down; and opaque decisions on which residents received hospital treatment for the virus and which were left to suffer or die in their nursing homes.
45% of Indian online users hit by local threats in 2020
“The threat landscape in India, as well as in the APAC region, has been constantly evolving and the threats are becoming more and more sophisticated and targeted in nature,” said Saurabh Sharma, Senior Security Researcher (GReAT), Kaspersky (APAC).
Insurer Hiscox counts cost of virus claims, ‘brand damage’ after court case
“Hiscox has undoubtedly suffered some brand damage this year,” the company said
The company lost a high-profile court case in January over the policy wordings and has reserved $475 million for pandemic-linked claims.
Event cancellation and abandonment is expected to account for the biggest share of claims, followed by business interruption, the company said.
Pfizer, Oxford vaccines reduce severe Covid-19 in elderly, study finds
Data suggests that in the over 80s, a single dose of either vaccine is more than 80 per cent effective at preventing hospitalisation, around 3 to 4 weeks after the jab, PHE said in a statement.
Evidence for the Pfizer vaccine suggests that it leads to 83 per cent reduction in deaths from Covid-19, it said.
RBI restricting banks from raising stakes in insurance firms: Report
Reserve Bank of India (RBI) rules allow banks to hold up to 50% stakes in insurers and on a selective basis equity holdings can be higher but must eventually be brought down within a certain period.
The central bank in 2019 unofficially advised banks seeking to acquire stakes in insurers, to limit such stakes to a maximum of 30%, and more recently directed them to cap stake purchases in insurers at 20%.
Centre allows all private hospitals to administer Covid-19 vaccine
“Private hospitals not empanelled under the above-mentioned three categories have also been permitted to operate as COVID Vaccination Centres (CVCs) if they have adequate number of vaccinators, adequate space for observation of the vaccinated, adequate cold chain arrangement and adequate arrangement for management of Adverse Events Following Immunisation(AEFI),” the statement said.
In addition to all the government health facilities, all private hospitals empanelled under the CGHS, the AB-PMJAY and the state health insurance schemes can function as CVCs, subject to them mandatorily adhering to certain norms, the statement said.
India reports 14,989 fresh COVID-19 cases
As per the Indian Council of Medical Research (ICMR), as many as 21,84,03,277 samples have been tested for the coronavirus as of Tuesday, including 7,85,220 in the last 24 hours.