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Here is a masonry blog layout with no sidebarNatural disaster H1 insured losses hit a 10-year high of $42 billion
Floods in Europe since last week have likely caused $2-3 billion in reinsurance losses, analysts say. read more
Natural disasters were responsible for around 3,000 deaths globally in the first half, with 800 fatalities from the heatwave which hit parts of Western Canada and the U.S. Pacific Northwest in late June.
As cyberattacks rise, Cyber insurers are overhauling their strategies
Cyber policies are relative newcomers to the centuries-old insurance industry. The sector has exploded in the past decade — with premiums more than doubling since 2015 and totaling $3.15 billion last year, according to the National Association of Insurance Commissioners.
Some firms are charging more for less coverage. Clients in US paid 35% more for cyber coverage in the first quarter than they did in the same period last year, according to broker Marsh McLennan. Demand for standalone policies surged 24% last year.
Wrestling with higher costs and more risk, insurers are tightening standards, boosting prices and slashing how much they’re willing to pay for a breach.
Over 34 lakh tonnes of plastic waste generated in FY 2019-20: Govt
“There is a complete ban on sachets using plastic material used for storing, packing, or selling gutkha, tobacco, and pan masala. Ministry of Environment, Forest, and Climate Change had also issued a draft notification in the Gazette of India on March 11, 2021, for amending Plastic Waste Management Rules, 2016, inter alia prohibiting the use of identified single-use plastic items by 2022, for public consultation,” Union Minister of State for Environment Ashwini Kumar Choubey said
Judge: $150M initially for victims in Florida condo collapse
That sum includes about USD 50 million in insurance on the Champlain Towers South building and at least USD 100 million in proceeds from the sale of the Surfside property where the structure once stood, Miami-Dade Circuit Judge Michael Hanzman said at a hearing on Wednesday.
”The court’s concern has always been the victims here,” the judge said, adding that the group includes visitors and renters, not just condo owners. ”Their rights will be protected.”
Prevalence of COVID-19’s Delta variant among specimens sequenced over past 4 weeks exceeded 75 per cent: WHO
“According to GISAID data, as of 20 July, the prevalence of Delta among the specimens sequenced over the past 4 weeks exceeded 75 percent in many countries worldwide including Australia, Bangladesh, Botswana, China, Denmark, India, Indonesia, Israel, Portugal, Russian Federation, Singapore South Africa, and the United Kingdom,” the update said.
India reports 41,383 new COVID-19 cases, deaths rise by 507
From China to Germany, floods expose climate vulnerability
“Governments should first realize that the infrastructure they have built in the past or even recent ones are vulnerable to these extreme weather events,” said Eduardo Araral, associate professor and co-director, Institute of Water Policy, at Singapore’s Lee Kuan Yew School of Public Policy
. In Europe, climate change is likely to increase the number of large, slow-moving storms that can linger longer in one area and deliver deluges of the kind seen in Germany and Belgium, according to a study published https://agupubs.onlinelibrary.wiley.com/doi/full/10.1029/2020GL092361 June 30 in the journal Geophysical Research Letters.
Hospitals have become large industries, thrive on human distress: SC
“Hospitals have become a large industry now based on human distress. We cannot allow them to prosper at the cost of human lives. Let such hospitals be closed and allow the state to bolster health care facilities. Let not such hospitals operate in buildings with four rooms etc.,” said Justice Chandrachud while noting that a number of hospitals don’t adhere to fire safety norms.
US eases travel recommendations on India as COVID-19 cases fall
Allow life insurers to sell pension-based health policies: HDFC Life Chairman
”Across the world, both pension and health cover are very much part of life insurance, as they protect people from longevity and morbidity risks.Hence, allowing life insurers to distribute products such as health indemnity, NPS would help improve the much-needed insurance reach across the country,” he said.
Over $157 billion deployed in last 15 months to fight Covid pandemic: World Bank
”Since the start of the pandemic, the World Bank Group has committed or mobilised a record USD 157 billion in new financing, an unprecedented level of support for an unprecedented crisis,” World Bank Group President David Malpass said.
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”But we must still do more,” he said, adding that he remains deeply concerned about the limited availability of vaccines, which are critical to saving lives and livelihoods, for developing countries.
World Bank signs $125 million to support Resilient Kerala Program
The Resilient Kerala Program will focus on two key areas.
First, it will incorporate disaster risk planning in the master plans of urban and local self-governments to ease financial constraints on the state government when faced with unexpected shocks. Second, it will help make the health, water resources management, agriculture, and road sectors more resilient to calamities.
Covid antibodies last at least nine months after infection, study finds
Psychiatric patients at increased risk of Covid-19 hospitalisation, mortality: Study
Individuals with psychotic disorders and mood disorders, as well as patients receiving treatment with antipsychotics or anxiolytics (anxiety-reducing drugs) appeared as the most vulnerable groups for Covid-19-associated mortality. Patients with substance use disorders were also at increased risk for hospitalisation following Covid-19.
India’s healthcare infrastructure has many gaps, adversely impacts the lives of marginalised people : Oxfam Study
Noting that 63 million people are pushed into poverty every year due to health costs, the report said 67.8 per cent of total expenditure on health in India was paid out of pocket, while the world average is just 18.2 per cent.
The availability of free medicines in public healthcare facilities has declined from 31.2 per cent to 8.9 per cent for in-patient care and from 17.8 per cent to 5.9 per cent for out-patient care over the last two decades, the report said.
World Bank provides $185million to Jamaica in storm protection
Dr The Hon. Nigel Clarke, Minister of Finance and the Public Service, Government of Jamaica, said, “The Government of Jamaica has strategically prioritized Disaster Risk Financing to mitigate the adverse fiscal impact of tropical cyclones and natural disasters, thereby strengthening Jamaica’s economic resilience. We are pleased with the successful placement of this catastrophe bond, which adds an indispensable layer of disaster risk financing that complements our multi-layered approach. In this transaction, Jamaica benefited from the vast technical resources of the World Bank, and from the strength of its balance sheet. We are also grateful to our bilateral partners, the Governments of the United Kingdom and Germany, through the Global Risk Financing Facility, and to the United States through the United States Agency of International Development who provided financial support for the transaction.”
Final settlement for Brazil’s Samarco dam disaster could reach $19 bln, governor says
That estimate is nearly four times higher than an initial deal struck with mining companies in 2016, which created a foundation to implement reparations and temporarily froze lawsuits relating to the incident. “The expectation is that the agreement is around 100 billion reais,” Romeu Zema, governor of Minas Gerais, told Reuters in an interview late on Friday.