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Indian
Cities risk irreversible damage due to environmental degradation: Officials
''Be it Panaji, Thane, Surat, our cities could suffer permanent...
India is developing programmes to reduce risk of losses from all hazards: PK Mishra
P K Mishra, Principal Secretary, PMO India has significantly...
Kerala Health Minister estimates loss of around Rs 8 crore in Kollam drug warehouse fire
''The total loss due to the fire is estimated at Rs 8 crore. But...
Panda meets insurers, sets Aug 1 deadline for Health Exchange and Bima Sugam
Debasish Panda, chairman, IRDAI Raising the overall budget for Bima...
International
More than 4 billion people still lack any social protection, ILO report
Social protection includes access to health care and income security, particularly in relation to old age, unemployment, sickness, disability, work injury, maternity or loss of a main income earner, as well as for families with children.
There are significant regional inequalities in social protection. Europe and Central Asia have the highest rates of coverage, with 84 per cent of people being covered by at least one benefit.
The Americas are also above the global average, with 64.3 per cent. Asia and the Pacific (44 per cent), the Arab States (40 per cent) and Africa (17.4 per cent) have marked coverage gaps.
Government spending on social protection also varies significantly. On average, countries spend 12.8 per cent of their gross domestic product (GDP) on social protection (excluding health), however high-income countries spend 16.4 per cent and low-income countries only 1.1 per cent of their GDP on social protection.
Total global reinsurance capacity rises 7% to $ 517 billion in 2020, Munich Re regains top ranking: AM Best
From Asia, there are three reinsurers which are part of top 15 global reinsurers. They are China Re, Korea Re and India’s state owned GIC Re(13), with a global premium of $6,481 billion in 2020.
Although the global reinsurance industry has been able to absorb the exceptional shock from the COVID-19 pandemic, perils that are becoming more complex and interrelated highlight the need for innovation to cover unmodeled risks as they emerge, and traditional risks as they evolve, according to the special report.
Ping An Insurance denies regulator halted sales of alternative investments
The nation’s largest insurer by market value is facing a setback after impairments related to troubled property developer China Fortune Land Development Co. wiped 20.8 billion yuan ($3.2 billion) from profit in the first half. The company on Friday had signaled the worst of the hit may be over and it may even claw back some of the losses this year if the debt situation of the developer improves.
Uber proposes industry-wide gig worker benefits model in Canada
Uber said it advocates for benefits funds everywhere, but added that labor laws, social safety nets and different cultures meant it would pursue a different approach in every country, with Monday’s proposal tailored to Canada.
Gig companies have long been criticized for the lack of benefits and protections they offer their independent contractor workers. Many labor unions, some lawmakers and the Biden administration have said gig workers should be reclassified as employees.
The companies have also faced several lawsuits in Canada and the United States alleging worker misclassification.
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