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Verdict in the first US Coronavirus Business Interruption Trial to set the tone for more than 1,300 other lawsuits against insurers
Overall, the industry could face at least $100 billion in total underwriting losses from the pandemic, Lloyd’s executives predicted earlier this year. The industry has been on a winning streak so far, persuading judges to throw out more than four times as many business-interruption suits as they’ve allowed to proceed, according to Baker’s analysis.
Lawsuits over lost-revenue claims have been filed by all sorts of businesses, from the National Football League’s Atlanta Falcons and the National Basketball Association’s Houston Rockets to hair salons and doctor’s practices. The stakes for the insurance industry have escalated as more cases are filed. In the second quarter — after the initial shutdowns — Chubb Ltd. reported $1.16 billion in Covid-19 losses.
SC directs states to carry out fire safety audit of dedicated COVID-19 hospitals
A bench headed by Justice Ashok Bhushan said hospitals whose fire NOC has expired will have to get it renewed within four weeks. The top court said all the states will follow COVID-19 guidelines, including on wearing of face mask and adherence to social distancing measures, and the standard operating procedure issued by the competent authority.
Over 4.5 cr people in India will be forced to migrate from homes by 2050 due to climate disasters
The report ”Costs of climate inaction: displacement and distress migration” assessed climate-fuelled displacement and migration across five South Asian countries — Bangladesh, India, Nepal, Pakistan and Sri Lanka — and calculates a devastating likelihood of over 6 crore people being homeless and displaced by 2050 in South Asia alone.
Vaccination for COVID-19 will be voluntary: Health ministry
“Vaccination for COVID-19 is voluntary. However, it is advisable to receive the complete schedule of the vaccine for protecting one-self against this disease and also to limit the spread of this disease to the close contacts including family members, friends, relatives and co-workers,” the ministry said in response to a question on if it is mandatory to take the shot.
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