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Companies face five liability risk trends during Covid-19 pandemic:Allianz
“Pricing in the liability insurance market may have turned in recent months, however social inflation trends and large court verdicts continue in the United States. This combined with expanded exposures for non-US companies doing business in the US and an increase in automotive part recalls are putting pressure on liability insurers,” said Ciara Brady, Global Head of Liability at AGCS.
“Overlay this with the uncertain economic outlook, political instability and unknown impacts from coronavirus and this is creating a challenging market for clients, brokers and insurers alike. While we have to react to new loss trends in underwriting, AGCS remains committed to supporting our clients with solid risk transfer solutions and capacity to address today’s liability exposures,” said Ciara.
COVID-19: India reports 89,706 fresh cases; death toll rises to 73,890 with 1,115 fatalities
The COVID-19 case fatality rate has further dropped to 1.69 per cent.
There are 8,97,394 active cases of COVID-19, which is 20.53 per cent of the total caseload in the country, the data stated.
Passenger vehicle retail sales fall 7% in August: Automobile dealers’ body FADA
Total sales across categories declined 26.81 per cent to 11,88,087 units last month as against 16,23,218 units in the year-ago month.
Total sales across categories declined 26.81 per cent to 11,88,087 units last month as against 16,23,218 units in the year-ago month.
Entry level passenger vehicles were in high demand as personal mobility is being preferred with current pandemic showing no signs of slowing down, he added.
FADA(Federation of Automobile Dealers Associations) President Vinkesh Gulati noted that urban centres were also now showing signs of recovery.However, the overall demand is still not back to pre-COVID-19 levels as banks and non-banking finance companies (NBFCs) continue to have a cautious approach towards funding, especially commercial vehicles, he added.
UK PM plans law banning large gatherings as COVID-19 cases rise
“We need to act now to stop the virus spreading. So we are simplifying and strengthening the rules on social contact making them easier to understand and for the police to enforce,It is absolutely critical that people now abide by these rules and remember the basics washing your hands, covering your face, keeping space from others, and getting a test if you have symptoms,” UK Prime Minister Boris Johnson said.
India reports record daily jump of 95,735 Coronavirus cases
In the last 24 hours, 95,735 new infections were detected, with 1,172 deaths accounting for the highest single-day mortality figures in more than a month, to push the toll beyond 75,000.
The COVID-19 fatality rate has further dropped to 1.68 per cent while the recovery rate was recorded at 77.74 per cent
There are 9,19,018 active cases in the country which comprise 20.58 per cent of the total caseload, the data stated
Global Coronavirus deaths hit 9,00,000 as cases surge in India
An average of more than 5,600 people die each day from COVID-19, according to Reuters calculations based on data from the last two weeks. The rate of deaths is holding steady taking 18 days to climb from 800,000 to 900,000 deaths. It took 17 days to go from 700,000 to 800,000.
General insurance business in India to contract by 9% in 2020 due to COVID-19, says GlobalData
As per the latest data, India’s general insurance market is expected to register a compound annual growth rate (CAGR) of 4.7% over 2019-2024, as compared to the pre-COVID forecast of 11.9%, primarily due to the ongoing economic uncertainty and the imposition of country-wide lockdown restrictions.Pratyusha Mekala, Insurance Analyst at GlobalData, comments:
Mumbai International Airport airport rolls out contactless check-in system for passengers
“With the focus on passenger convenience, the new contactless technology has been developed in response to the rapidly changing passenger requirements due to the COVID-19 pandemic. We are working on enhancing passenger experience through the adoption of newer technologies that can be easily adapted by all,” said MIAL Chief Executive Officer Rajeev Jain.
Don’t stop us paying dividends, European insurers tell regulators
The pandemic will likely lead to between $50 and $100 billion in losses for insurers, the Insurance Europe trade body said in response to a consultation by the International Association of Insurance Supervisors (IAIS) on the impact of the pandemic
Chedid Capital and Ascoma Gr join forces, to create a leader in broking in ME and Africa
This transaction translates Chedid Capital’s strategic vision of being a leader in insurance broking, serving companies in the Middle East and Africa; these markets represent strong development potential.