SIRC 26
Indian
India set to become world’s fastest-growing economy, Finance Ministry report says
The report said, softening retail inflation and adequate liquidity...
Depression to cross coast between TN and AP around Chennai this evening, says IMD
"It is very likely to continue to move west-northwestwards and...
DAS SAYS GDP TO CLIP AT 9.5% AS GROWTH IMPULSES STRONG
Reserve Bank Governor Shaktikanta Das Mumbai: Stating that growth...
Equity MFs log Rs 5,215-crore inflow in Oct amid rally in markets
Equity schemes have been witnessing a net inflow since March this...
International
Pandemic to bring Asia’s 2020 growth to halt for first time in 60 years: IMF
Climate change risk will have transformative effect on Energy sector, Willis Towers Watson
In Asia, the Downstream insurance market continues to harden, with losses in countries, including Thailand and Korea. The gap in pricing between Asian and London-based markets is reducing significantly, especially with a majority of the Asian markets making headquarter referrals before underwriting a risk. There are also elements of domestic hardening in countries like Korea, Taiwan and the Philippines amongst others. At the same time, the Downstream market in China remains competitive for domestic risk following the Covid-19 lockdown and pandemic situation, which has affected supply and demand in the oil & gas industry.
Trump unveils three-stage process for states to end coronavirus shutdown
Case numbers across the region, spanning 53 countries, are continuing to climb. In the past ten days, the number of cases reported in Europe has nearly doubled to close to one million, and over 84,000 people have lost their lives to the virus in the region, Kluge announced. Of the total global burden, 50% of cases are in this region.
“We remain in the eye of the storm… Now more than ever I call for solidarity between countries. It is time to step up and display both responsive and responsible leadership to steer us through this storm,” World Health Organization’s Regional Director for Europe, Dr Hans Kluge told a virtual press briefing, adding that the next few weeks will be critical for Europe.
Most small UK companies have no pandemic insurance – watchdog
The FCA said most insurance policies for small and medium sized companies (SMEs) only gave basic cover, with no obligation to pay out in relation to the COVID-19 pandemic.
“While this may be disappointing for the policyholder we see no reasonable grounds to intervene in such circumstances,” FCA interim chief executive Christopher Woolard said in a letter to heads of insurers.
“In contrast, there are policies where it is clear that the firm has an obligation to pay out on a policy. For these policies, it is important that claims are assessed and settled quickly.”
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