The Health portfolio, at Rs 90,788 crore, has remained the largest...
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Generali CEO Philippe Donnet targets big insurance deals in Europe
Philippe Donnet,Chief Executive Officer The current takeover...
Ship evacuated after first civilian fatalities in Houthis’ Red Sea attacks
War risk insurance rates have already reflected the sinking of the...
IRDAI revamps Personal Accident Policy, makes it a mandatory product for all general insurers
The Standard Personal Accident Product product will have Death: Benefit equal to 100% of sum insured payable on death of the insured person, due to an injury sustained in an accident during the policy period, provided that the insured person’s death occurs within 12 months from the date of the accident
Bharat Bio working on nasal vaccine
Krishna Ella, chairman and MD, Bharat Biotechsaid said his firm is setting up two more facilities for manufacturing vaccines, including for Covaxin.
Indian doctors find lead, nickel in blood samples after hundreds suffer mystery illness
High levels of lead in the bloodstream can impair development of brains, nervous systems and vital organs such as heart and lungs
The illness has infected more than 300 children, with most of them suffering from dizziness, fainting spells, headaches and vomiting. They have tested negative for COVID-19.
India could authorise COVID-19 vaccines in weeks, 300 million on priority list
Indian Prime Minister Narendra Modi’s government has identified 300 million people, including healthcare workers, policemen, and citizens above the age of 50, who would be administered a vaccine on a priority basis, health secretary Rajesh Bhushan said.
“Every single Indian who needs to be vaccinated, will be vaccinated,” Bhushan said, adding that the government expected the vaccination process to take over a year to complete.
India’s COVID-19 caseload rises to 97.35 lakh; recoveries cross 92 lakh
The number of people who have recuperated from the disease surged to 92,15,581, pushing the national recovery rate to 94.66 per cent, while the COVID-19 case fatality rate stood at 1.45 per cent.
There are 3,78,909 active coronavirus infections in the country now which comprises 3.89 per cent of the total caseload, the data stated.
The COVID-19 active caseload remained below four lakh for the third consecutive day.
When $2 trillion falls short, the next 2020 may be uninsurable
At the core is the reality that the global non-life insurance industry’s US$2 trillion in capital won’t last in a “black swan” event, such as a cyberattack or another pandemic, that hobbles the global economy.
Insurance markets for events, travel and business interruption have all been roiled by the virus. For those looking to protect against the possibility of pandemics, most will find that firms are offering few safeguards going forward.
Allianz, Europe’s biggest insurer, said it will focus on tightening up contracts to exclude pandemics. Munich Re has stopped selling business-interruption policies that cover coronavirus losses.
Ambani hints at 5G rollout in second half of 2021
5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices.
“We are creating compelling home-grown solutions in education, healthcare, agriculture, infrastructure, financial services and new commerce,” Mukesh Ambani said. “Each of these solutions, once proven in India, will be offered to the rest of the world to address global challenges.”
Global reinsurance market outlook stable, reinsurance capital exceeds $470 billion in 2020:AM Best
In its new Best’s Market Segment Report, “Market Segment Outlook: Global Reinsurance,” AM Best states that the current market hardening likely will need to continue for at least a couple of years to have a meaningful impact on the segment. Additionally, pricing momentum will have to be sufficient to offset losses from previous years, including the impact of COVID-19 and ongoing impact from social inflation.
French insurers to freeze premiums for sectors hardest hit by virus
Under pressure from French Finance Minister Bruno Le Maire,insurers faced the prospect of being hit by a 1.2 billion euro ($1.45 billion) tax if they did not offer to keep premiums steady next year.
Le Maire, who had been concerned some insurers were preparing to hike premiums, said the freeze would benefit hotels, restaurants and bars as well as firms in the tourism, sports, culture and events industries.
Aon report highlights a path toward “The New Better” in wake of COVID-19 Pandemic
Study shows global shift in attitudes of leading organizations toward long-tail risks and the impacts on how society will continue to work, travel and convene
More than 130 organizations across multiple industries and four continents in 10 cities participated in coalition meetings, sharing best practices and outlining new priorities to accelerate economic recovery