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Swiss Re acquires Fathom, a leader in water risk intelligence
Russell Higginbotham, CEO of Swiss Re Reinsurance Solutions, said:...
Irdai chief stresses spreading of natural calamity covers in high-risk regions
Debasish Panda, Chairman,Irdai, is addressing an international...
Investors sue Deutsche Bank,CEO in wake of Epstein fine
The lawsuit was filed on Wednesday in the U.S. District Court in Newark, New Jersey, and seeks unspecified damages.
It claims shareholders lost money because of Deutsche Bank’s dealings with Epstein,who was implicated in dozens of sexual abuse cases.
Floods in India, Nepal displace nearly 4 million people, at least 189 dead
The overflowing Brahmaputra River, which flows through China’s Tibet, India and Bangladesh, has damaged crops and triggered mudslides, displacing millions of people, officials said.
More than 2.75 million people in Assam have been displaced by three waves of floods since late May that has claimed 79 lives after two more deaths were reported overnight, a state government official said.
$501M unemployment insurance fraud Case in US
Derek Pickle, acting special agent-in-charge of the Office of the Inspector General at the U.S. Department of Labor, said the nation has seen a dramatic increase in the amount of unemployment insurance fraud around the nation during the coronavirus pandemic, which has caused unprecedented challenges for states trying to process unemployment claims.
NIA says ratings downgrade by AM Best `filmsy’,will grow profitability
“The company remains very strong financially, with an IRDAI solvency ratio of 2.11x. The downgrade action is due to quickly addressable issues, and the company is working in this direction,’’ said NIA officials.
For first time,world records 1million coronavirus cases in 100 hours-Reuters tally
The pandemic has now killed more than 590,000 people in almost seven months, edging towards the upper range of yearly influenza deaths reported worldwide. The first death was reported on Jan. 10 in Wuhan, China before infections and fatalities then surged in Europe and later in the United States.
The Reuters tally, which is based on government reports, shows the disease is accelerating the fastest in the Americas, which account for more than half the world’s infections and half its deaths.
Insurers favor warehouse investments over offices as pandemic hastens real estate shifts
Pandemic lockdowns have spurred companies to re-examine their need for office space if employees continue working at home in the post-pandemic world, a trend that could drive down office occupancy rates and rents.
ICICI Lombard’s net profit rises by 28.5% to Rs398 crore in Apr-Jun Qtr,combined ratio at 99.7%
The capital gains of the company was lower by 56.1 per cent y-o-y at Rs 60 crore in Q1 FY2021 compared to Rs 138 crore in Q1 FY2020.
A multiple factors like lower claims in other segments like motor and health(non-Covid -19 category) fire and crop have helped the company to record a favourable combined ratio and profitability during the June quarter, said analysts.
Record single day Covid-19 cases of 30k push tally near to one million,death toll climbs to 24,915
Covid-19 claims from govt authorised make-shift hospitals payble by insurers:IRDAI
In order to ensure that the costs of treatment of COVID – 19 are covered as per the terms and conditions of policy contract, a make-shift or temporary hospital permitted by Central / State government will be also regarded as a hospital or network provider and insurers have to settle the claims, said IRDAI on Thursday.
Floods ravage eastern India as coronavirus infections surge
The floods have killed at least 10 people and injured more than 70 in the states of Assam, Bihar and Jharkhand, where heavy rain has submerged thousands of villages in the past 24 hours as authorities battle to ensure social distancing in relief camps.