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Non-Life

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SpiceJet gearing up to provide logistics support for COVID vaccination

After playing a critical role in transporting essentials and medical supplies during the lockdown, SpiceXpress, has come forth to take up the responsibility of seamlessly transporting the vaccine through a specialised service called Spice Pharma Pro, SpiceJet said in a release.

The temperature sensitivity to maintain efficacy of the vaccine calls for reliable, fast and secure logistics partners who understand the importance of cold chain, and to this end the company has partnered with global leaders in the segment, it said.

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59% Indians sceptical about Covid-19 vaccine, won’t rush to take it: Survey

With 65 per cent citizens believing that the vaccine should not be rolled for commercial or hospital use till the digital vaccine tracking platform is ready indicates that people of India believe that there is a high risk that the vaccine without a working digital platform could get in the wrong hands leading to black-marketing scenarios and even counterfeiting.

The digital vaccine tracking platform would reportedly need to track the supply of close to 1.7 billion Covid-19 vaccine doses needed to immunise most of India’s adult population – a mammoth task than any in the history, keeping in mind the country’s experience with large immunisation campaigns.

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COVID-19 caseload in India rises to 94.62 lakh

The total number of people who have recuperated from the disease surged to 88,89,585, pushing the national recovery rate to 93.94 per cent. The COVID-19 case fatality rate stands at 1.45 per cent.

The active COVID-19 caseload remained below five lakh for the 21th consecutive day. There are 4,35,603 active cases in the country which comprised 4.60 per cent of the total caseload, the data stated.

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Fitch maintains a stable rating outlook for Chinese non-life insurance sector

“We expect the non-motor business to continue to report faster growth dynamics than the motor insurance class. Implementation of comprehensive motor insurance reform is likely to impair smaller insurers’ ability to boost profitability, while scale advantage will enable the large peers to sustain profitable underwriting results,” said Fitch in a rating note.

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Hyundai, Kia Motors agree to $210 million auto safety civil penalty in US

Kia agreed to create a new U.S. safety office headed by a chief safety officer and each automaker will retain an independent, third-party auditor who will directly report to NHTSA and will conduct a comprehensive review of the company’s safety practices. Hyundai’s consent order will last three years, while Kia’s is for two years, but both can be extended by one year.

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Mirae Asset wins U.S. lawsuit against China’s Anbang on scrapped $5.8 bln hotel deal

The case in Delaware, where many companies are registered, could set a precedent for deals that have seen valuations drop since the COVID-19 pandemic, as buyers no longer want to buy assets under the terms of agreements reached before.

A consortium led by Mirae agreed last year to buy the hotels from Anbang, which had been selling some of its overseas assets after the Chinese government took control of the troubled insurer in 2018.

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U.S. insurers dig into corporate diversity practices as lawsuits pile up

Insurers are meeting company officials to examine diversity practices before renewing or signing new so-called D&O policies to cover lawsuits against directors and officers, insurers and brokers said.

Before pricing coverage, insurers want details about top-level succession planning and how companies recruit, they said.

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