Vivek Joshi, secretary, Department of Financial Services ``I...
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China’s magnitude-6.2 earthquake kills over 100 in impoverished northwest
About 400 people were injured, thousands of buildings collapsed and...
India Wellness Index: Booming Health techs and strained social bonds
“Spending quality time with family sees a decline among working...
Commercial vehicle sales may fall by 30% in the current year
“Demand revival could be hastened in case of implementation of long due scrappage policy, reduction in GST rates from the current 28 per cent along with substantial economic measures including government’s push towards additional infrastructure projects,” the report said.
Lloyd’s approves “Syndicate-in-a-Box”,to insure transport of future COVID-19 Vaccine
Syndicate 1796 has been developed by Parsyl, an insurance technology company and Lloyd’s Lab alumni, in close partnership with Ascot as managing agent, and in cooperation with AXAL XL, McGill and Partners and Gavi, the Vaccine Alliance. The Syndicate forms the foundation of the new Global Health Risk Facility (GHRF) at Lloyd’s, which aims to provide comprehensive insurance and risk mitigation services to support the manufacturing and distribution of COVID-19 vaccine development efforts. It aims to start writing business from 1 October 2020.
“Arogya Sanjeevani”policy can be offered as a group cover:IRDAI
The group policy is expected to provide protection to a large number of employees engaged in manufacturing, services, SMEs, MSMEs,logistics sector and migrant workers, catering to their medical needs, said IRDAI
Domestic airfare cap to remain in place till Nov 24:Aviation Ministry
“As per the prevailing situation of COVID-19, the Central government..directs that the order shall remain in force till 2359 hrs on 24th November, 2020, or until further orders,” the Aviation Ministry said.
About 400,000 global airline jobs lost or at risk due to virus
Job losses in related industries including aircraft manufacturers, engine makers, airports and travel agencies could reach 25 million, according to the International Air Transport Association. The hotels and lodging sector in the U.S. sees 7.5 jobs lost for every one in aviation. Airbus SE and Boeing Co. are cutting more than 30,000 positions.
After US directive,DGCA tells airlines to inspect Boeing B737s in fleet
The US aviation regulator Federal Aviation Administration asked the airlines to inspect their B737 aircraft that had not flown for seven days or more and the ones that had operated not more than 10 flights after return to service.
A senior DGCA official said the Indian regulator had asked Indian carriers SpiceJet, Vistara and Air India Express to inspect their B737 aircraft as directed by the FAA.
The emergency directive was “prompted by four single-engine shutdowns” that happened due to compromised air check valves in the engines of the certain B737 aircraft, said the FAA in its emergency directive.
India Covid recovery rate at 63% after record 28,472 recuperations in a day
States and Union Territories with recovery rate higher than the national average include Delhi (84.83 pc), Telangana (78.37 pc), Rajasthan (72.50 pc), Gujarat (72.30 pc), Chhattisgarh (71.81 pc), Assam (71.05 pc), Odisha (70.96 pc), Tamil Nadu (70.12 pc), Madhya Pradesh (67.47 pc) and Bihar (63.95).
According to the Indian Council of Medical Research (ICMR), a total of 1,47,24,546 samples have been tested up to July 21 with 3,43,243 samples being tested on Tuesday.
Swiss Re books $476 million of Covid-19 losses in March quarter
A range of factors relating to the pandemic,including future infection and mortality rates;the duration and effects of mitigation measures, including on business activity; the timing of an effective vaccine and/or alternative treatment solutions; legislative or regulatory efforts and the outcome of court and arbitration cases on coverage issues; the impact of government stimulus packages;and the severity and duration of recessionary impacts,may impact claims development in the coming quarters, either positively or negatively,relative to Swiss Re’s projections.
Amazon to offer auto insurance in India
Amazon Pay, the India unit’s payments arm, has partnered with private firm Acko General Insurance to offer car and motor-bike insurance, the company said in its blog.
Global cat losses at $75 bn in 1H 2020,India’s Amphan was the costliest:Aon Report
Natural disasters were responsible for approximately 2,200 fatalities during the first half of 2020, significantly below the long-term (1980-2019) average of 39,800 and the median of 7,700. Flooding was the deadliest natural peril during the period, having been responsible for 60 percent of the death toll.