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Here is a masonry blog layout with no sidebarInsurer AIA’s new business drops 37% in first-half as pandemic hits sales
Insurers across the world have been hit by pandemic-related claims including for travel, business interruption and event cancellation, while economic slowdown and job losses have led to reduced demand for life insurance.
In Asia, insurance firms mainly rely on their army of agents for product sales, which have been dented by lockdown and social distancing measures put in place in various countries to contain the pandemic.
Mystery grows over virus spread via contaminated food packaging
“We know that viruses usually can survive being frozen. So that means in theory it’s possible that infection could spread that way,” said Benjamin Cowling, head of epidemiology and biostatistics at the University of Hong Kong. “But in reality, it’s a very low risk that that would happen because so many steps would need to be involved.”
The virus would need to survive freezing and then defrosting. It would need to get onto someone’s hands and then into their nose or mouth, and still survive. “I don’t think it would be a frequent mode of transmission, but it is possible,” he said.
Drug costs for COVID-19 patients plunge at U.S. hospitals, but may rise
Research by the health data firm IllumiCare and exclusively shared with Reuters found that hospitals spent $1,090 per COVID-19 patient on medication in July. That was down from $3,011 in May among more than 50 hospitals in 10 states that were analyzed.
Several factors drove down the number. The average length of stay for COVID-19 patients declined by nearly 30%, from 9.6 days in April to 6.8 days in July, the hospital data show. And the number of medications used dropped by 22%, from nearly 20 individual drugs in April to 15.4 drugs in July.
Covid-19 Pandemic:Lloyd’s gets ready for reopening & business with restrictions
India faces protracted slowdown as virus clouds rural revival
“The economic situation has in fact worsened since April and May, and we are likely moving towards a longer economic slowdown than earlier expected,” a finance ministry official said.
The official pointed to sluggish consumer demand and a slowdown in rural lending as causes for concern.
“The situation on the economy front is very serious and the government’s hands are tied on the fiscal front,” a government adviser with direct knowledge of India’s budget plans said.
COVID-19 will see insurers adapt polices as risks change, says GlobalData
the transition to working from home has led to concerns in other areas such as physical and mental health, which were not originally covered in household policies. As everyday risks change, insurers will have to adapt their policies accordingly, says GlobalData, a leading data and analytics company.
India coronavirus cases surge to 2.9 million
14 hospitalised after ammonia gas leak in Andhra Pradesh
“We got the information that Ammonia gas was leaked at Hatson company milk process unit near Putalapattu at around 5 PM. 14 labourers who were working in that shift are brought to the hospital here in Chittoor. Among them, 3 people are serious and probably will be shifted to SVIMS or Ruia hospital in Tirupati,” Dr Narayan Bharat Gupta, Chittoor District Collector said.
“All are stable. All of them are women. It is to yet be ascertained whether this incident is a result of the negligence of management or the negligence of the workers. Industries department General Manager and fire department officials will review the ground-level situation on Friday,” he said.
World Health Organization’s struggle for a global COVID-19 vaccine plan
The WHO has expressed concern that wealthier countries hoarding vaccines for their own citizens could impede efforts to end the pandemic.
“We need to prevent vaccine nationalism,” WHO chief Tedros Adhanom Ghebreyesus said during a Tuesday virtual briefing. “Sharing finite supplies strategically and globally is actually in each country’s national interest.”
WHO blasts ‘vaccine nationalism’ in last-ditch push against hoarding
The WHO has an Aug. 31 deadline for wealthier nations to join the “COVAX Global Vaccines Facility” for sharing vaccine hopefuls with developing countries. Tedros said he sent a letter to the WHO’s 194 member states, urging participation.
So far, the COVAX facility has attracted interest from 92 poorer countries hoping for voluntary donations and 80 wealthier countries, a number little changed from a month ago, that would finance the scheme, the WHO said.
India’s COVID-19 tally climbs to 27,67,273,death toll at 52,889
Reliance buys majority stake in online pharmacy Netmeds for $83 million
18.9 mn salaried people lost jobs since April, 5 mn in July, says CMIE
The loss of around 5 million jobs in July comes after around 3.9 million jobs were gained in June, as per the data. In April, 17.7 million salaried jobs were lost, followed by 100,000 job losses of salaried employees in May.
“While salaried jobs are not lost easily, once lost, they are also far more difficult to retrieve. Therefore, their ballooning numbers are a source of worry,” the centre’s CEO Mahesh Vyas said.
Aon launches its virtual reinsurance renewal season
Andy Marcell, CEO of Aon’s Reinsurance Solutions business, said: “In an uncertain global economy, one thing is clear – reinsurance has never been more important as a strategic tool for client success. We are committed to collaborating with insurers and markets towards the 1st January renewals to help clients protect people and assets, strengthen their balance sheets and make better business decisions that reduce volatility.”
COVID-19 Pandemic:Insurance Shield for the medical fight
It is vital that risks are identified and monitored throughout the duration of a clinical trial. Key risk indicators include patient safety, patient recruitment, site performance, data quality and vendor performance. Data must be monitored throughout the trial, and the trial team must remain focused on risk at all times
Retail to insurance: Amazon, Ambani’s Jio prep for ‘one fierce battle’
The US giant is fanning out at a pace not seen elsewhere in the world. Amazon is now delivering prescription and over-the-counter medicines and herbal remedies in Bangalore. It started last month selling car and motorbike insurance–a first for the Seattle-based online giant–claiming to finalise policies in under two minutes without paperwork.
“This is going to be one fierce battle,” said Satish Meena, senior forecast analyst at Forrester Research Inc. “Amazon and Reliance want to meet a person’s every need from online retail to financial services to entertainment. It’s a fight for the household’s spending.”
On Facebook, health-misinformation ‘superspreaders’ rack up billions of views: report
Facebook’s algorithm is a major threat to public health. Mark Zuckerberg promised to provide reliable information during the pandemic, but his algorithm is sabotaging those efforts by driving many of Facebook’s 2.7 billion users to health misinformation-spreading networks,” said Fadi Quran, campaign director at Avaaz.
Taiwan to further free up economy, aiming to become Asian financial hub
Instability in Chinese-ruled Hong Kong, especially after Beijing enacted a new national security law there, has called into question how long the city can remain Asia’s dominant financial centre.
While Taiwan is unlikely to supplant Hong Kong immediately, the government does hope to seize the opportunity to attract professionals and capital from the city.