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Pandemic

Indian general insurers defy Covid barriers, record 300% jump in net profit to Rs 3,868 cr during FY2021

Indian general insurers defy Covid barriers, record 300% jump in net profit to Rs 3,868 cr during FY2021

An analysis by AIP Analytics shows, though, the industry witnessed a massive disruption due to the onset of Covid-19 Pandemic since March 2020, in terms of key parameters like  gross premium, number of policies issued, underwriting losses/ profit , Combined ratio, gross claims, no of employees and foreign direct investment  and investment in infrastructure and social sectors, the Indian general insurance industry has seen a significant improvement  during FY 2020-21.
The first half of 2021- 22 has definitely seen a reversal in several aspects.Primarily the second wave has hit the helath insurance portfolio  much harder , motor insurance has seen more intense price competition due to lower demand of new vehicles while at the sametime There is no lockdown effect this time. Prices for small and medium risks  have plummeted in the property space . All These point towards a much worse performance of
the Indusrty going forward,”cautioned the analysts.

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Health Ministry in touch with MEA over UK non-acceptance of Covishield beneficiaries

Earlier today, Union Health Minister Mansukh Mandaviya had also announced that the Government of India will resume ‘Vaccine Maitri’ from October this year and also fulfil its responsibility under Covax. “Under Vaccine Maitri, we will help the world and contribute to Covax in the fourth quarter,” Mandaviya today told reporters.

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28% household in Delhi have one or more member with flu-like symptoms: Survey

Amid fears of a possible third wave of COVID-19, experts at a recent meeting of the Delhi Disaster Management Authority (DDMA) had said that as flu and coronavirus have similar symptoms, the Delhi government should continue vigorous testing to keep the spread of COVID-19 in check during the flu season. ”In response, six per cent of Delhi’s residents said there are currently ‘four or more individuals’ with flu-like symptoms.

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Struggling economies, widening inequality and millions vulnerable: the urgent need for vaccine equity

Inequitable vaccine distribution is not only leaving millions or billions of people vulnerable to the deadly virus, it is also allowing even more deadly variants to emerge and spread across the globe.

Moreover, an unequal distribution of vaccines will deepen inequality and exaggerate the gap between rich and poor and will reverse decades of hard-won progress on human development.
WHO has set a global target of 70 per cent of the population of all countries to be vaccinated by mid-2022, but to reach this goal a more equitable access to vaccines will be needed.Research suggests that enough vaccines will be produced in 2021 to cover 70 per cent of the global population of 7.8 billion. More than 4.6 million people have died from the virus since it swept across the globe from the beginning of 2020, but it’s expected that the rate of people dying will slow if more people are vaccinated.

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COVID-19 booster dose not central theme at the moment: Government

ICMR Director General Balram Bhargava said administering both doses is absolutely essential and there should be no breakage in that.

“We need to remember one thing very clearly that booster dose is not the central theme at the moment in the scientific discussion as well as in the public health domain. Getting the two doses remains the major priority,” Bhargava said.

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NIH grants $470 mln to conduct studies on long-term effects of COVID-19

The grant is part of an initiative the main U.S. health research body launched in February to understand why symptoms of the illness persist long after infection in some cases – a condition known as “long COVID”- and why some individuals develop new or returning symptoms after recovery.

The most common prolonged symptoms include pain, headaches and fatigue, but the condition has been linked to a higher risk of kidney problems as well as smell distortions in other studies.

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