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Indian
Geospatial, digital technologies can be effectively used to combat water crisis, says report
Over 34 lakh tonnes of plastic waste generated in FY 2019-20: Govt
“There is a complete ban on sachets using plastic material used for storing, packing, or selling gutkha, tobacco, and pan masala. Ministry of Environment, Forest, and Climate Change had also issued a draft notification in the Gazette of India on March 11, 2021, for amending Plastic Waste Management Rules, 2016, inter alia prohibiting the use of identified single-use plastic items by 2022, for public consultation,” Union Minister of State for Environment Ashwini Kumar Choubey said
India reports 41,383 new COVID-19 cases, deaths rise by 507
Rs 500-cr COVID claims leave ICICI Prudential in the red with Rs 186 cr Q1 net loss
On the massive pandemic claims, Kannan said the company had a gross claim of Rs 1,100 crore from 5,000 insured, which translates into Rs 500 crore net claims (as the remainder of the claims is paid by the reinsurers). This is 2.5X of what it settled in the whole of last year — net paid only Rs 200 crore to 2,000 people. Kannan further said all of the Rs 500-crore net claim is not paid yet but refused to share the exact settled amount, saying as a policy they set aside funds for the entire claims filed for.
International
Google to pay $170 million fine for sharing YouTube kids data
Swiss Re and Capsicum Re launch a holistic cyber reinsurance solution
Willis Towers Watson launches innovative risk advisory service
John Merkovsky, Head of Risk and Analytics at Willis Towers Watson, added “’Today’s risk manager and CFO have only been able to view risk financing as individual transactions, compartmentalised by line of business. Connected Risk Intelligence is a combination of advanced modeling technology and our own optimisation expertise which will revolutionise the way organisations view risk management.
Global reinsurance market to see consolidation, product & service innovation:S&P
S&P Global Ratings believes that these factors will continue to push the sector to evolve, forcing market consolidation, product and service innovation, expansion of product offerings, and reimagining of the re/insurance value chain. Indeed the market may look different, but it could be a long time before the competitive landscape changes.
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