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Life insurance is witnessing shift from ‘savings ’ to ‘protection’:IRDAI member
K. Ganesh, Member (Life), IRDAI said fintech will redefine distribution and customer services Pune: K. Ganesh, Member (Life), IRDAI has said the Covid-19 pandemic has changed the peoples’ perspective of life insurance from ‘savings oriented’ to ‘protection oriented’....
Climate-fueled permafrost thaw threatens up to half of Arctic infrastructure -report
The world’s permafrost — land that remains frozen year-round — has been warming at between 0.3 and 1.0 degree Celsius per decade since the 1980s, with some areas of the High Arctic having increased by more than 3°C over four decades, according to a scientific review...
Once in a lifetime COVID pandemic has reaffirmed importance of health sector: PM
Prime Minister Narendra Modi "The problem of shortage of doctors in India was well-known. But there were not enough efforts to address this problem. Perhaps vested interests also did not let previous governments take the right decisions. And, access to medical...
Technology can democratise healthcare delivery: Cardiologist Devi Shetty
Devi Prasad Shetty,Chairman,Narayana Hrudayalaya, "If they don't need an operation, I don't need to touch them. And if I don't need to touch them, I don't need to be there. I can be anywhere. I can talk to them, get the data and explain to them what the problem is and...
Bharat Biotech says Covaxin booster shot neutralises Omicron
"The neutralisation activity of Covaxin-boosted sera was comparable to what has been observed in mRNA vaccine-boosted sera against the Omicron variant.More than 90% of all individuals boosted with Covaxin showed neutralising antibodies,"Bharat Biotech said in a...
COVID-19: 115 deaths reported globally due to Omicron, one in India, says Health Ministry
"Emerging states of concerns reporting high positive rates- Maharashtra with a rate positivity rate of 22.39 per cent, West Bengal 32.18 per cent, Delhi 23.1 per cent and Uttar Pradesh 4.47 per cent," he added. Agarwal also stated that there are eight countries in...
78% of Indians feel insurance is an important part of financial planning: SBI Life Survey
But 38% of the Indians feel that the situation could worsen over the next three months and their top three worries attributed to (1) Rising medical/ treatment cost (2) Instability of Jobs (3) concerns around Health of family/self Mumbai, January 12, 2022: SBI Life...
Natural disasters cost $120bn of insured losses worldwide in 2021, relatively low losses in Asia-Pacific: Munich Re
Torsten Jeworrek, member of the Board of Management,Munich Re The costliest natural disaster in 2021 was Hurricane Ida, causing $65bn of economic losses and US$ 36bn of insured losses Torsten Jeworrek, member of the Board of Management,Munich Re, said the images of...
India reports 1,94,720 fresh COVID-19 infections, 442 fatalities
``Plateauing of hospital admissions is an indication that the wave may have peaked. We may see a decline in cases in two to three days.Cases have started declining in Mumbai and Delhi is likely to follow the same trend,'' Delhi Health Minister Satyendra Jain said New...
Goldman Sachs says bitcoin will compete with gold as “store of value”
Citing bitcoin's $700 billion market capitalization, compared to the around $2.6 trillion worth of gold owned as an investment, Goldman Sachs said that the cryptocurrency currently has a 20% share of the "store of value" market The term "store of value" usually...
China’s Omicron Outbreak Is Bad News for the Global Supply Chain
“The reality is that China remains the center of global manufacturing,”said Thomas O’Connor, a supply chain expert at Gartner Inc. in Sydney. “If there was significant manufacturing or logistic shutdowns in China associated with covid-related challenges, that would...
Aspen launches ESG integration initiative ‘Project Leaf’
By 2026, the project aims to see over two thirds (66%) of Aspen’s (Credit and Political Risk) CPR premium originating from transactions with a favorable ESG classification. A favorable classification is determined by exposure that has a positive ESG risk factor, for...
Government may seek Rs 15 trillion valuation for LIC, aims to file prospectus for IPO by Jan end
The government is still awaiting the completed valuation report, the people said, and projected valuations may change based on that. They added that LIC could be valued at as high as five times the so-called embedded value — higher than 3-4 times for most insurers...
No complete ban on cannabis, medical use allowed: Centre to Delhi HC
The petition, which is listed for further hearing in March, has challenged provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act which prohibit the use of cannabis and has contended that the drug has medicinal and industrial benefits. New Delhi: The...
Too soon to treat COVID-19 like flu as Omicron spreads – WHO
"At this rate, the Institute for Health Metrics and Evaluation forecasts that more than 50% of the population in the region will be infected with Omicron in the next 6-8 weeks," Kluge said, referring to a research centre at the University of Washington Fifty out of 53...
Government finalises medical insurance for retired Air India employees
Retired employees will get the Central Government Health Scheme facility for their OPD requirement and National Health Insurance Scheme for their hospitalisation requirements," a top government official told the paper. The airline has around 50,000 retired staff in...
Non-life insurance cos register over 7 pc rise in gross premium at Rs 18,953 cr in Dec 2021
The five standalone health insurance companies registered a 31.3 per cent rise in their gross underwritten premium at Rs 1,740.15 crore during the month, against Rs 1,325.03 crore a year ago Hyderabad: The gross direct premium underwritten by non-life insurance...
Contacts of confirmed cases don’t need to get tested unless identified as high risk: Govt advisory
Asyptomatic patients undergoing surgical/non-surgical invasive procedures including pregnant women in/near labour who are hospitalised for delivery should not be tested unless warranted or symptoms develop, the advisory said. New Delhi: Contacts of confirmed Covid...