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Indian
Non-life insurers’ gross direct premium rises 11 pc to Rs 12,316 cr in May
The six standalone private sector health insurance companies registered a jump of 66.6 per cent in their gross premium at Rs 1,406.64 crore in May 2021, as against Rs 844.13 crore earlier.
On a cumulative basis, the gross direct premium of all the non-life insurance companies grew by 17.5 per cent to Rs 29,626 crore in April-May 2021-22, as against Rs 25,212.55 crore in the same period of the previous fiscal.
Passenger vehicle sales in India dip 66 per cent in May as COVID disruptions take toll: SIAM
Commenting on the sales data, SIAM Director General Rajesh Menon said that many states were under lockdown due to COVID-19 cases for most part of May thus impacting overall sales and production during the month.
“Many members (auto cos) had also shut down their manufacturing plants to divert oxygen from industrial use for medical purposes,” he added.
May received the second highest rainfall in 121 years, says IMD
First year premium of life insurers down by 5.6 per cent to Rs 12,977 crore in May
International
Cyber joins Business Interruption as leading Global Risk for first time: Allianz
“Companies need to plan for a wide range of disruptive scenarios and triggers, as this is where their big exposure lies in today’s networked society,” says Chris Fischer Hirs, CEO of AGCS.
“Disruptive risks can be physical, such as fire or storms, or virtual, such as an IT outage, which can occur through malicious and accidental means. They can stem from their own operations but also from a company’s suppliers, customers or IT service providers. Whatever the trigger, the financial loss for companies following a standstill can be enormous.
Colorado Man Sentenced to 76 yrs of prison for $16mn securities fraud over Insurance Marketing Organisations
Fiat Chrysler to pay $700M to U.S., States, car owners over diesel emissions claims
US: Drug advertising drives $30 bn Medical Industry marketing machine
The researchers estimated that medical marketing reached $30 billion in 2016, up from $18 billion in 1997. Spending on consumer-focused ads climbed fastest. But marketing to doctors and other health professionals still grabbed the biggest share with the bulk of it paying for free drug samples.
“Marketing drives more treatments, more testing” that patients don’t always need, said Dr. Steven Woloshin, a Dartmouth College health policy expert. Woloshin wrote the report with his wife, Dr. Lisa Schwartz, both longtime critics of over-diagnosis and over-treatment.
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