Reinsurance

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...

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...

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...

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...

Willis Towers Watson launches benchmarking service to help insurers improve claims handling & profitability

International News       Nov 15, 2018

  LONDON: Willis Towers Watson today announces the launch of Claim Metrics, a bespoke claims benchmarking solution for UK personal lines insurers. The service provides claims leaders with a unique tool for identifying performance improvements, as well as offering underwriters, pricing teams, actuaries and senior management...

U.S. Residential Solar Projects Turn to Output Insurance

International News       Nov 15, 2018

   A tool designed as an insurance policy for solar-power generation will be used to manage the risk associated with U.S. residential systems for the first time as part of a financing agreement backing 4,000 projects in the Northeast.   Investment in the 35 megawatts of capacity...

Arun Jaitley, Finance Minister

Centre planning share sale offer of General Insurance, New India Assurance

Indian News       Nov 15, 2018

  New Delhi: The Finance Ministry on Thursday said it is planning to come out with a share sale offer of two recently listed insurance companies -- GIC and New India Assurance.   State-owned reinsurer General Insurance Corporation of India (GIC) was listed on the bourses in...

Cyber-attacks, volatile weather top risks for India Inc:Marsh-RIMS study

Indian News       Nov 13, 2018

  MUMBAI:  Large scale cyber-attacks, massive incidents of data theft, and extreme weather events are the top three risks for India Inc., says a joint study by Marsh, a global leader in insurance broking, and RIMS, the risk management society™.   In fact, some 88 per cent...

GIC Re's gross premium goes up by 11 % to Rs 27,117 crore, net profit falls by 28 % in H1 2018-19

Indian News       Nov 13, 2018

  Mumbai: State owned national reinsurer GIC Re with a total gross premium of Rs 27,117.40 crore has seen its net profit falling by 28 per cent to Rs 1,285.27 crore in H1 FY 2018-19 as compared to Rs 1,809.22 crore in the year ago period.  ...

Standard Club Asia and Ping An P&C Insurance collaborate to underwrite P&I risks in China

International News       Nov 09, 2018

  Singapore: The Standard Club Asia Ltd and Ping An Property & Casualty Insurance Company of China, Ltd collaborate to underwrite P&I risks fo  world’s second-largest ship owning country The Standard Club Asia Ltd (“Standard Asia”), managed by Charles Taylor Mutual Management (Asia) Pte Ltd, yesterday...

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