Al-Houthi also claimed that his group had attacked 102 vessels...
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6th Bima Manthan: Panda and insurance CEOs brainstorm on Bima Trinity, new products and data
Debasish Panda,chairman,IRDAI The industry's preparedness for...
BAGIC’s net profit jumps 18% to Rs 380 crore in Q4FY24
BAGIC’S underwriting loss stood at Rs 76 crore for 04 FY24 as...
Rising Risk of Cyber-attack on Industrial Sector:Lloyd’s Report
Cyber-attack risks have previously been considered unlikely to materially impact the physical market, with cyber perils traditionally emerging in the form of non-physical losses. However, the report looks at how physical risks have become a rapidly growing concern for industrial businesses as shown by recent high-profile breaches. As bridges are increasingly being built between information technology (IT) and operational technology (OT), along with increases in automation and sophistication of threat actors, it is paramount that (re)insurers carefully consider where major losses may occur.
COVID-19: New cases fall below 10,000 for fourth time in February
The number of people who have recuperated from the disease surged to 1,06,33, 025 which translates to a national COVID-19 recovery rate of 97.32 per cent, while the COVID-19 case fatality rate stands at 1.43 per cent
There are 1,36,872 active coronavirus infections in the country which comprise 1.25 per cent of the total caseload, the data stated
Africa Specialty Risks Group partners with GIC Re & Peak Re to launch new capacity for African region
ASR has secured additional multi-year binder capacity of up to $25 million per risk through a partnership with India’s GIC Re and annual capacity from Hong Kong based Peak Re.
Mikir Shah, CEO,ASR, said “ Securing additional capacity could not come at a more meaningful time for ASR. Following our launch mid-Pandemic in September 2020, we have seen a reduction in available capacity as traditional underwriters withdraw from emerging markets to focus on their more developed domestic markets”
4 detected with SA variant of SARS-CoV-2 in India, one with Brazil strain
In India, the South Africa strain has been detected in four returnees — one from Angola, one from Tanzania and two from South Africa in January, ICMR Director General Balram Bhargava said.
All travellers and contacts have been tested and quarantined.
World’s fastest vaccine push augurs return to normal in Israel
The Pfizer vaccine led to 94% fewer symptomatic illnesses and 92% fewer critically sick cases, according to a study of 1.2 million people by Israel’s largest health maintenance organization.
That success has spurred the government to ease restrictions on movement that have been in place for months. Next week, sporting and cultural events will be open to those who have been fully vaccinated, and everyone will be allowed to go to malls and shops.
Indian economy on track for recovery: S&P
“The emergence of yet more contagious COVID-19 variants with the potential to evade vaccine-derived immunity present a major risk to this recovery. As does the possibility of early withdrawal of global fiscal stimulus,” S&P said in a report titled ”Cross-sector outlook: India”s escape from COVID”.
Covid-linked syndrome in children is growing and cases are more severe
Doctors across the US have been seeing a striking increase in the number of young people with the condition Braden had, which is called Multisystem Inflammatory Syndrome in Children or MIS-C. Even more worrisome, they say, is that more patients are now very sick than during the first wave of cases, which alarmed doctors and parents around the world last spring.
Munich Re Life and Health announces new leadership for Southeast Asia and Digital Solutions
Munich: Munich Re has announced two senior appointments in its Life and Health business in the region. Aravind Srinivas will lead the Group’s Southeast Asia business and Tobias Frenz takes on responsibility for a newly formed business capability...
Insurers partner with paytechs to widen distribution in India:GlobalData
Ayushi Tandon, Senior Fintech Analyst at GlobalData, comments: “Insurance companies in India that have collaborated with paytechs are likely to reach a large customer base in a fast and inexpensive way. The strategy can work well as the use of payment platforms has dramatically increased in the country over the recent past, especially after the demonetization and during the COVID-19 pandemic. It can also simplify the entire customer journey in insurance, from purchases to claims.’’
FinMin to infuse Rs 3,000 cr in general insurance companies this quarter
The capital infusion will enable the three public sector general insurance companies to improve their financial and solvency position, meet the insurance needs of the economy, absorb changes and enhance the capacity to raise resources and improve risk management. Finance Minister Nirmala Sitharaman in the Budget announced privatization of two public sector banks and one general insurance company in 2021-22 beginning April.