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Life insurers may see short-term pressure on profitability due to pandemic: ICICI Pru Life
“In the short-term, the profitability of the insurance industry is expected to be an area of concern given the increase in mortality and morbidity rates induced by the pandemic. Even more than a year after the pandemic first struck, there continues to be significant uncertainty regarding its absolute impact on mortality and morbidity experience,” the insurer said.
SC reserves judgment on PIL seeking direction to provide Rs 4 lakhs ex gratia to kin of COVID-19 victims
The petition also sought the issuance of direction to respondents, respective State Governments to fulfill their obligation to take care of victims of the calamity and their family members. The lawyers- Reepak Kansal, and Gaurav Kumar Bansal– in their petition, filed before the Supreme Court, sought immediate appropriate directions to the concerned authorities to pay financial help or ex gratia amount of Ra 4 lakh, as laid down by the Central government in its statute and rules to the family members of the deceased, who succumbed to COVID-19 pandemic.
Doctors protest in Delhi over violence against healthcare professionals; seek legislation
”There are many central health laws such as the PCPNDT Act and the Clinical Establishment Act. Currently, 21 states have local laws, but what we need is a strong central law to protect doctors from violence,” the doctors’ body had said.
The Health Services Personnel and Clinical Establishment (Prohibition of Violence and Damage to Property) Bill, 2019, which sought to impose a jail term up to 10 years for assaulting on-duty doctors and other healthcare professionals, was dismissed by the Home Ministry saying the special law was not feasible as health is a state subject, the IMA had said on Thursday.
Airtel, Tata Group team up for ‘Made in India’ 5G network solutions
International
Tougher Asian markets need different approach to risk and insurance driven by data analytics
“Too often, we hear clients struggle to quantify the financial impact and likelihood of risks to their business. Today, companies need to know, with certainty, that the insurance strategy they have in place is exactly right for their business. With new and emerging risks on the accelerated rise, they need to adopt a data-driven and actuarial approach to support all aspects of their insurance procurement process to yield better business outcomes,” adds Scott.
PwC to pay $335 million over failed audits:U.S. regulator
Global insurance M&A activity up 9% in 2018, may slow down in first half 2019:Clyde & Co
While the Americas remained the most active region for insurance sector M&A with 189 deals in 2018, there was a slight drop off in deal activity in the Americas in the second half of the year with 92 transactions, down from 97 in the first six months. The slowdown in the Americas in the second half of last year is indicative of heightened investor caution, and the legal firm predicts 2019 will be a year of two halves – a slowdown in M&A in some markets in the first six months, while the second half should see a return to form.
Boeing faces spate of Lawsuits after second 737 MAX 8 Crash
Boeing faces the prospect of substantial payouts to the families of passengers if it’s found responsible for both the Indonesia and Ethiopia crashes. But legal experts say the second one could prove even more damaging for the Chicago-based company. That’s because plaintiffs will argue the manufacturer was put on notice by the earlier tragedy that there was something dangerously wrong with its planes that should have been fixed.
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