Indian
Market Rally-Investors richer by over Rs 5.74 trn in two days
"Positive global clues lifted sentiments for the second straight...
Govt to take action against defaulting EV firms in e-scooter fire accidents: Gadkari
“We have constituted an expert committee to enquire into these...
Eight hour blackouts hit India; hottest March points to ‘looming power crisis’
Although outages aren’t uncommon in India, the situation this year...
Government likely to take a call on timing of LIC IPO within this week
The official said it would be a tough call to decide whether to go...
International
Insurers have to collect BI policy premiums for 150 years to make up for COVID-19 global losses:Geneva Association
Among the report’s, prepared by the Geneva Association, main findings are that, encouragingly, health and life risks for a pandemic resembling COVID-19 pose no fundamental insurability challenges.
However P&C insurers have nowhere near the capacity needed to shoulder projected global output losses of more than USD 4 trillion for 2020. By comparison, they collect USD 1.6 trillion in annual premiums, with just USD 30 billion for business interruption policies.
Strong earthquake kills 19 people in Turkey and Greek islands
People ran onto streets in panic in the Turkish city of Izmir, witnesses said, after the quake struck with a magnitude of up to 7.0. Neighbourhoods were deluged with surging seawater which swept debris inland and left fish stranded as it receded.Ismail Yetiskin, mayor of Izmir’s Seferihisar, said sea levels rose as a result of the quake. “There seems to be a small tsunami,” he told broadcaster NTV.
Footage on social media showed debris including refrigerators, chairs and tables floating through streets on the deluge. TRT Haber showed cars in Izmir’s Seferihisar district had been dragged by the water and piled on top of each other.
Facebook targeted in U.K. legal action over Cambridge Analytica
The possible lawsuit adds to Facebook’s run-ins with European privacy and antitrust authorities, which have intensified since the Cambridge Analytica affair emerged in March 2018. The EU has two early stage competition cases into Facebook’s classified ads service and its data practices, while Germany’s cartel office has targeted the company. The U.S. tech giant remains the target of multiple privacy disputes in Ireland, its EU home
Lloyd’s insurer Apollo to stop underwriting Adani coal mine from Sept. 2021
“We participate in one construction liability policy in respect of Adani Carmichael…this particular policy terminates in September 2021 after which we will no longer provide any insurance cover for this project,” chair of Apollo Syndicate Management Julian Cusack said in the memo.
“We have recently declined to participate in an additional policy relating to the port and rail extension and have agreed that we will not participate in any further insurance policies for risks associated with this project.”
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