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Indian
Covid positivity rate still above 10% in 407 districts, Centre extends curbs till Feb 28
The home secretary emphasised that there should be continued focus...
Govt eyes LIC listing on stock exchanges by March end: DIPAM Secy
"LIC disinvestment amount will be included in this year's (Budget)...
Early signs of Covid cases plateauing reported but need to be observed, says govt
Addressing a press conference here, Lav Agarwal, the joint...
Regular market approval granted for Covishield, Covaxin for use in adult population
Under the conditions, the firms shall submit data of ongoing...
International
Reliance Industries now the second biggest brand globally after Apple
One of the most profitable companies in India, Reliance is, “very well respected” and “seen as behaving ethically” as well as being associated with “growth”, “innovative products” and “great customer service”, it said. “In particular, people have a strong emotional connection with the organisation.”
FutureBrand, which is a global brand transformation company, said part of Reliance’s success could be attributed to Mukesh Ambani’s recasting of the firm as a one-stop-shop for Indians.
Lloyd’s appoints new Country Manager for Singapore
“Lloyd’s Asia is a key distribution hub for the Lloyd’s market in Asia Pacific, providing our brokers and clients in the region with local access to the specialist products and expertise we are renowned for. I am looking forward to working closely with our market to support their development plans and introducing solutions developed under The Future at Lloyd’s strategy as we continue to be the platform of choice for specialist (re)insurance in the region.”
Pavlos Spyropoulos,Country Manager, Singapore and CEO, Lloyd’s Asia
Insurers face possible British action over calculation of pandemic payouts
Some insurers were making deductions for government loans – which businesses had received as a result of the pandemic – when calculating payouts.
The FCA said this could be appropriate but insurers should not take a one-size-fits-all approach and make uniform deductions.
The Financial Conduct Authority (FCA) has taken eight insurers to court over business interruption policy wordings, which the insurers say do not cover the pandemic, with a ruling expected in mid-September.
But the case does not address how any resulting claims payments would be calculated, the FCA said on Monday.
Aviation sector has biggest pandemic default risk:insurance survey
Pandemic-related credit insurance claims are, however,likely to rise later this year or early next year, as businesses struggle to stave off default, said Matthew Solley, managing director of structured credit and political risks at Gallagher.
Aviation, oil and energy, and tourism were the three sectors in their portfolios that concerned insurers the most.
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