Non Life-News

Aon launches cover for intangible assets

International News       Nov 20, 2018

  LONDON:  Aon plc today announces the launch of a new Non-Damage Business Interruption (NDBI) cover that is designed to protect the income streams of the growing number of companies with high levels of intangible assets.   NDBI policies protect companies’ revenues against business interruption costs that...

Asia led by China and India will drive global insurance growth:Swiss Re  

International News       Nov 20, 2018

  London: Global economic growth will remain strong over the next two years, although momentum has peaked. Swiss Re Institute's latest sigma "Global economic and insurance outlook 2020" says the still-positive economic momentum will support the insurance sector, with global premiums up more than 3 per...

RMS estimates insured losses from California wildfires to be between $9 Bn and $13 Bn

International News       Nov 20, 2018

California wildfires in Newark, C.A:- RMS, a global risk modeling and analytics firm, has estimated that the insured loss for the Camp and Woolsey wildfires in California will be between USD $9 and $13 billion ($7.5-$10 billion for Camp; $1.5-$3 billion for Woolsey). The estimate...

China moves closer to allowing foreigners to control insurance ventures: sources

International News       Nov 20, 2018

   HONG KONG/BEIJING: China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said.   The regulator is expected to...

GI Council reconstituted, IRDA nominates four new members

Indian News       Nov 18, 2018

  Mumbai: The General Insurance Council, the self regulatory body of the general insurance industry with 33 players, has now been fully reconstituted after a gap of three years.   A V Girija Kumar, CMD, Oriental Insurnace Company, has replaced G Srinivasan, as the chairman of the...

Boeing defends 737 safety as first U.S. lawsuit filed over Lion Air crash

International News       Nov 16, 2018

  Boeing Co. has been sued in what may be the first U.S. claim tied to the crash of Lion Air Flight 610, which dove into the Java Sea after taking off from Jakarta Oct. 29. Irianto, the father of Dr. Rio Nanda Pratama, an Indonesian...

IRDAI forms panel to overhaul Motor OD product structure

Indian News       Nov 16, 2018

  Hyderabad: The insurance regulator IRDAI on Friday has constituted a panel on Friday In a bid to overhaul the current product structure in the Motor Own Damage segment.  The panel will revisit the wordings of the various existing products and also develop new ones where...

Cyclone Gaja claims 45 lives, rips through Tamil Nadu coast with heavy rain

Indian News       Nov 16, 2018

  Chennai: The toll in cyclone Gaja has touched 45, Tamil Nadu Chief Minister K Palaniswami said on Sunday and appealed to leaders of all political parties to take part in the relief activities.    "Palaniswami said 1.7 lakh trees have been uprooted, 735 cattle died, 1.17...

India won't achieve 2-degree cut in global warming by 2030, says report

Indian News       Nov 16, 2018

New Delhi: India will not be able to reduce global warming by 2 degrees Celsius by 2030 as envisaged in the landmark Paris Agreement due to gaps between the projections and the current policies of the government aimed at achieving it, according to a new...

Belgian insurer Ageas acquires 40% in RSGI for $210m

Indian News       Nov 15, 2018

  Chennai: Brussels-based insurer Ageas announced it has signed an agreement to acquire 40 percent of the share capital of the Indian non-life insurance company Royal Sundaram General Insurance Co. Ltd. (RSGI) for a total consideration of €186 million (US$209.4 million). The acquisition fits Ageas’s strategy...

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