Non Life-News

639 farmers ended lives in Maharashtra between March and May this year: State government 

Indian News       Jul 14, 2018

  MUMBAI: In Maharashtra, 639 farmers committed suicide between March and May this year due to crop failure, debt and inability to repay bank loans, the state government has said.  State Revenue Minister Chandrakant Patil gave this information in the Legislative Council in Nagpur yesterday in...

Private sector general insurers'market share at 55 %, needs Rs 12 -30 billion of capital to maintain growth:ICRA

Indian News       Jul 13, 2018

Mumbai: The Indian general insurance sector in the country grew at a slower rate of 17  per cent in FY2018 after a robust growth of 32 per cent in FY2017.  As per ICRA research, the private sector growth continued at a faster pace (22 per...

US Court Rules Airport Screeners shielded from passenger abuse Claims

International News       Jul 12, 2018

  Fliers may have a tough time recovering damages for invasive screenings at U.S. airport security checkpoints, after a federal appeals court on Wednesday said screeners are immune from claims under a federal law governing assaults, false arrests and other abuses.   In a 2-1 vote, the...

Post merger AXA and XL Group’s combined operations branded as ‘AXA XL’

International News       Jul 11, 2018

  Following the completion of the acquisition of XL Group by AXA SA – expected in the second half of 2018 – the two insurers have chosen the name of the division that will be dedicated to large property/casualty commercial lines and specialty risks.   French insurer...

US Regulators try to navigate Legal, Social, Safety Issues raised by Autonomous Vehicles

Articles       Jul 11, 2018

  In closed-door meetings last March, U.S. transportation regulators and others grappled with questions about whether police should have the power to disable self-driving cars and whether an automatic alert that a robo-taxi had been in a wreck could violate an occupant’s privacy, a report released...

HDFC Ergo launches ‘Title Insurance Policy’

Indian News       Jul 10, 2018

Mumbai: HDFC ERGO General Insurance today announced the launch of ‘Title Insurance Policy’, a first of its kind product in the private insurance segment in India.  This new Title insurance policy will prove beneficial to real estate developers, property investors and housing finance companies. The...

Munich Re sticks with coal underwriting despite investor pressure

International News       Jul 06, 2018

  LONDON/FRANKFURT: Munich Re, the world’s biggest reinsurer, said it would keep underwriting coal-related businesses, defying investors keen for it to follow a partial ban by its rival Swiss Re.   It, however, said it looked at the issue “repeatedly”.   Policymakers are pushing companies to do more...

Trade Credit Insurance could get boost from Trade War

International News       Jul 06, 2018

  Trade tensions sound like a great opportunity to underwriters of a little-known insurance product. U.S. President Donald Trump set off fears of a global trade war with tariffs on metals and an array of imports from China.   As countries ratchet up the rhetoric and retaliation,...

Global insurance prms rise to$5 trillion, up 1.5%  in 2017, China-led emerging markets drive growth:Swiss Re’s Sigma

International News       Jul 05, 2018

  Zurich: Global insurance premiums increased 1.5% in real terms1 to nearly USD 5 trillion in 2017, after rising 2.2% in 2016.   in 2016. global life premiums increased to roughly USD 2.7 trillion in 2017, while global non-life premiums rose to approximately USD 2.2 trillion. Growth...

In a first,Sukhoi jet crash triggers Rs 270 cr claims,New India & GIC Re-led reinsurers to pay

Indian News       Jul 05, 2018

  Mumbai: In a first-ever such development, an under-production Sukhoi jet,manufactured by the Hindustan Aeronautics Limited (HAL),that recently crashed during its test flight in Maharashtra's Nashik ,has triggered insurance claims of around Rs 270 crore to be paid by a clutch of  reinsurers led by GIC...

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