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Indian
Govt plans to provide more tax concessions on vehicles bought after scrapping old ones: Gadkari
The road transport and highways minister said he is also requesting...
Bar Council of India suspends 28 UP lawyers for filing fake cases in MACT
The Supreme Court. had taken a serious note of the issue relating...
Amid growing cybercrimes, Delhi Police to set up cyber police station in every distric
According to data provided by the Delhi Police during its annual...
Sensex drops 1,170pts, Nifty below 17,450, investors lose Rs 7 trillion
The BSE index has shed 2,253 points (3.7 per cent) in the last four...
International
Munich Re expects Coronavirus-Related claims in excess of $1 Billion during 2020
Forced payouts of Pandemic claims risk insurers’ financial stability: Regulators
Disputes over cover for businesses struggling to stay afloat during coronavirus lockdowns have erupted in countries including Britain and the United States, where eight states have brought in laws which would require insurers to pay claims, mainly to small businesses, despite exclusions.
Where pandemic risks are covered by a policy, insurers should pay out such claims in a prompt and efficient manner, the International Association of Insurance Supervisors (IAIS) said, while cautioning “against initiatives seeking to require insurers to retroactively cover COVID-19 related losses.”
RMS unveils high definition models for European severe convective storm
“The multi-peril stochastic set includes over 7.5 million events, covering 17 countries, based on 50,000 years of simulations, so that we appropriately capture the spatial and temporal scale of convective storm risk in the European modelling domain,” said Mohsen Rahnama, chief risk modeling officer, RMS, said.
Recent events have shown the potential cost of this peril for the re/insurance industry, said RMS, noting that from 2013 to 2019, losses from major and attritional severe convective storms in Europe exceeded €12 billion (US$13 billion),said RMS in a statement.
“Businesses need to restart facilities with care and caution after coronavirus lockdown”:AGCS
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