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Indian
Union Budget 2022-23: Expectations on changes in income tax slabs and rates
Finance Minister Nirmala Sitharaman In the Budget 2020-21, around...
FPIs pull out a whopping Rs 28,243 crore from Indian equities in Jan
With the latest pull out of funds from Indian markets, FPIs have...
India adds over 2.34 lakh new COVID-19 cases, 893 deaths in last 24 hrs
The case fatality rate is 1.20 per cent. In the last 24 hours,...
Two years on, India’s battle with COVID-19, its variants continues with no end in sight
Till now, India has reported 4,10,92,522 cases and 4,94,091...
International
On Facebook, health-misinformation ‘superspreaders’ rack up billions of views: report
Facebook’s algorithm is a major threat to public health. Mark Zuckerberg promised to provide reliable information during the pandemic, but his algorithm is sabotaging those efforts by driving many of Facebook’s 2.7 billion users to health misinformation-spreading networks,” said Fadi Quran, campaign director at Avaaz.
Taiwan to further free up economy, aiming to become Asian financial hub
Instability in Chinese-ruled Hong Kong, especially after Beijing enacted a new national security law there, has called into question how long the city can remain Asia’s dominant financial centre.
While Taiwan is unlikely to supplant Hong Kong immediately, the government does hope to seize the opportunity to attract professionals and capital from the city.
Lloyd’s Lab selects Thimble to develop Pandemic Business Interruption Insurance for SMBs
As part of Lloyd’s Lab, Thimble will tackle this issue head on. The startup, known for its instant insurance policies of flexible duration, will develop low-limit parametric contingent business interruption coverage to protect businesses from COVID-19 and future pandemics. By doing so, Thimble will position insurance as a “first line of defense” that pays small businesses immediately if specific criteria are met– essentially providing an “instant stimulus” while governments figure out the rest.
From Africa to America, businesses and insurers face survival showdowns
Businesses around the world, hamstrung by lockdowns, are facing often-existential showdowns with insurance companies that are reluctant to pay out on business interruption policy claims for a disaster unknown in living memory.
The insurers say many such policies exclude pandemics, require physical damage on premises or do not apply to the widespread lockdowns seen globally. Facing pressure from regulators, mounting reputational damage and a wave of lawsuits, they warn that paying out could sink their industry.
In some countries, including South Africa, France and Germany, insurers are now opening their chequebooks. But for many customers, these settlements or ex-gratia payments – voluntary payouts that do not imply legal liability – fall short.
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