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Indian
Insured assets worth Rs 150 crore affected in fire at Neemrana unit: Havells
There was no human loss/injury and the entire building, plant and...
Paytm’s billionaire CEO faces biggest test since IPO Dud
Vijay Shekhar Sharma, CEO, Paytm’ Shareholders should vote against...
GST investigation wing asks officers to refrain from summoning CEOs
About the instructions with regard to summons, the guidelines said...
Govt holds interviews for appointing IRDAI’s non-life member, private sector professionals lead the race
From the public sector insurers, Madhulika Bhaskar, general manager...
International
German draft doesn’t recommend AstraZeneca jab for over-65s
WHO launches plan to tackle neglected diseases as Covid-19 strains healthcare
By Zachary Fagenson, The World Health...
Insurers face ‘mind-blowingly’ large loss if Olympics cancelled
The IOC and Japanese organizers have been adamant that another postponement isn’t an option. So it appears more likely the Games would have to be canceled, rather than postponed again, if they weren’t able to go ahead in Tokyo this summer.
Analysts at Jefferies have estimated the Tokyo Olympics is insured for around $2 billion, plus a further $600 million for hospitality.
The IOC takes out around $800 million of protection for each Summer Games, which covers most of the roughly $1 billion investment it makes in each host city.
Governments, insurers should work together on global risks-executives
“Public-private partnerships are the only way to tackle climate risk,” insurance broker Willis Towers Watson CEO John Haley said at a virtual meeting of the World Economic Forum.
Zurich Insurance CEO Mario Greco said insurers did not have the capacity to tackle climate and cyber risks alone, but neither should such problems be outsourced wholly to governments.Governments and insurers in Europe and the United States are considering state-backed reinsurance programmes for future pandemics, though some insurance sources have said progress has been slow, as governments focus their attention on dealing with the current crisis.
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