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Here is a masonry blog layout with no sidebarClimate-change effects to drive rising losses from severe weather events:Sigma study
Worldwide, economic losses from natural and man-made disasters in 2019 were USD 146 billion, lower than USD 176 billion in 2018 and the previous 10-year annual average of USD 212 billion. The global insurance industry covered USD 60 billion of the losses, compared with USD 93 billion in 2018 and USD 75 billion on average in the previous 10 years.
“To uphold the insurance risk transfer model as a powerful tool to foster resilience, insurers need to adapt before, not post events,” Martin Bertogg, Head of Catastrophe Perils at Swiss Re said. “To this end, insurers should be wary of historical loss records in understanding today’s state of the socio-economic environment and climate. Averaging out over a past spanning multiple decades can lead to distorted risk assessment.”
IRDA allows 3 months moratorium on repayment of term loans sanctioned by insurers
IRDAI has allowed insurers to grant a moratorium of three months towards payment of instalments falling due between 1st March, 2020 and 31st May, 2020. The repayment schedule for such loans and also the residual tenor, will be shifted across the board by three months subsequent to the moratorium period.
SC asks Centre to make COVID-19 tests in pvt labs free of cost
“We, thus, issue following interim directions to the respondents: (i)The tests relating to Covid-19 whether in approved Government Laboratories or approved private Laboratories shall be free of cost. The respondents (Centre and other authorities) shall issue necessary direction in this regard immediately,” the bench said.
Doctors, healthcare workers are warriors, have to be protected, SC tells Centre
Lockdown won’t be lifted in one go, PM Modi hints at all-party meeting
Merging PSBs can continue their existing bancassurance partnerships for a year:IRDAI
Punjab National Bank (PNB) has absorbed Oriental Bank of Commerce and United Bank — which makes it India’s second-largest bank after State Bank of India (SBI).Similarly, Syndicate Bank merges with Canara Bank, Union Bank of India absorbs both Andhra Bank and Corporation Bank. Indian Bank and Allahabad Bank’s merger also comes into effect from April 1
Peak Re to acquire Bermuda based ILS asset manager Lutece
China sees slight rise in new coronavirus infections as imported cases jump
China reported 63 new cases on Wednesday, up from 62 a day earlier, the National Health Commission said.Of those, 61 involved travellers arriving from overseas, the health authority said on Thursday, the most since March 25.That brings the total number of confirmed cases in mainland China to 81,865.
Speed of coronavirus deaths shock doctors as New York toll hits new high
Van Gogh heist focuses collectors’ attention on security systems
In New York, where museums and galleries have shuttered and art-lined apartments and townhouses stand empty, some are taking added precautions. Jordan Arnold, head of art risk advisory services at K2 Intelligence FIN, said he’s had numerous conversations recently with clients about security concerns. Lawyer Thomas Danziger said one client, a jeweler, has removed everything from the store in case of theft. Others have put their artwork into storage.
COVID-19 death toll rises to 114, number of cases climbs to 4,421: Health Ministry
India allows limited exports of anti-malaria drug after Trump warns of retaliation
Use of hydroxychloroquine has soared as the United States has quickly become the epicentre of the pandemic, though doctors prescribing it have no idea whether it works.
U.S. fatalities from COVID-19, the respiratory disease caused by the virus, hit 10,902 on Monday, rapidly closing in on Italy and Spain, the countries with the greatest loss of life to date, according to a Reuters tally of official data.
WHO warns masks are no ‘silver bullet’ to end pandemic
Centre ‘thinking’ of extending COVID-19 lockdown
A final decision on the date from which the lockdown will begin to be lifted and the manner in which it would be done now hinges on the data to be provided by ICMR and National Disaster Management Authority (NDMA) – likely in three days – on the spread and likely progression of Covid-19 cases in the country, the sources said.
Bajaj Allianz General launches its Arogya Sanjeevani Policy,a Rs 5 lakh cover to cost between Rs 3,700-Rs49,900
• Example 1: If a 35 year old man buys a policy for his spouse (32 years) and a kid ( 5 years) for a Sum Insured of Rs. 5 lakh, the premium of the policy will be Rs. 13,260 on individual basis and for family floater the premium will be Rs. 10, 920
•Example 2: For a Sum Insured of Rs. 3.5 lakh, a 35 year old individual can buy this policy by paying premium of Rs. 5,600.
Millions of aviation jobs at risk, airlines can’t afford refunds: IATA
Passenger sues United Airlines over refusal to refund airfare despite U.S. order
Airline passengers throughout the U.S. are increasingly taking to social media to air their frustration at not being able to get refunds for trips canceled amid the coronavirus pandemic. The U.S. Department of Transportation on Friday reminded carriers that they are required to reimburse fliers for fares and fees.
Global supply chains strained as ship crews are stuck in Lockdown
Hubs like Singapore, Abu Dhabi and Shanghai have halted most crew transfers, while global lockdowns have complicated travel from the Philippines, which supplies about a quarter of the world’s seafarers.
At risk is the flow of goods like food, medicine and energy via commercial shipping, which accounts for about 80% of global trade. While unseen by most consumers, restrictions on crews are among the unprecedented challenges wrought by the virus, which has ground major economies to a halt.