Microlender Spandana Sphoorty Financial on Monday disclosed a cyber...
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Aon and Munich Re launch pandemic reinsurance solution protecting insurers in Indonesia and the Philippines
Hitesh Kotak, CEO, Asia, Munich Re, said: "Pandemic risk remains...
Chouhan asks officials to draw up strategy on drought, cyclones, erratic rain
Shivraj Singh Chouhan,Agriculture Minister "Formulate a concrete...
Govt extends export risk-relief scheme until March 2027 amid West Asia disruptions
The extension of Component II of the RELIEF (Resilience & Logistics Intervention for Export Facilitation) initiative is aimed at encouraging exporters to obtain insurance cover from the Export Credit Guarantee Corporation of India (ECGC) for eligible shipments to...
BPCL to cut Russian crude purchases as freight costs erode price advantage
BPCL, which sourced about 37 per cent of its crude from Russia in the July-September quarter, has continued to diversify its procurement as geopolitical tensions disrupt shipping routes and push up freight and insurance costs. The company has nevertheless secured...
Courts penalise firms for violating BIS quality and safety norms in Maharashtra, Kerala, Odisha
In one of the major financial penalties in recent cases, a Judicial Magistrate First Class Court in Bhiwandi, Maharashtra, imposed a total fine of Rs 34 lakh on importing firm Ador Welding Ltd and 16 of its directors and officials for violating mandatory BIS...
Thousands evacuated as cyclone Arnab nears eastern coast
Arnab, which formed over the Bay of Bengal before intensifying into a cyclonic storm, is expected to make landfall in Andhra Pradesh state by Wednesday morning, with gusts of as much as 140 kph (87 mph), India's weather office said. Bhubaneswar: Two states along...
Ship attacks in Strait of Hormuz hit record high in October
Raydan, who maintains the institute's interactive shipping incident map, has recorded 28 confirmed and reported attacks in the Strait of Hormuz and surrounding waterways in October and 113 since the US-Israeli war with Iran began on February 28. OSLO: October has...
PM inaugurates RBI’s Rs 169-cr data centre, Cybersecurity Training Institute in Odisha
Prime Minister Narendra Modi inaugurating the Reserve Bank of India's Rs 169-crore data centre and Cybersecurity Training Institute in Bhubaneswar on Sunday The data centre will host mission-critical payment and settlement systems, along with other flagship...
Global insured Nat CAT losses fall to lowest 9-month level since 2019: Gallagher Re Report
Q3 also marked the sixth consecutive quarter without an individual natural catastrophe generating more than USD10 billion in insured losses. This comparatively favorable loss experience has supported strong industry earnings, robust capital positions and substantial...
Europe’s Summer Toll: 50,000 deaths and a €17 billion GDP hit
“We often see elderly patients become confused or have strokes or have cardiac-type events where heat may have made a significant contributing factor to the death,” said Andrew Hartle, an intensive-care consultant at Imperial College Healthcare NHS Trust, in a press...
India’s heatwave move exposes global climate finance gap ahead of COP31
According to India's first Adaptation Communication to the UN Climate Change Summit in 2023 (COP28), the country alone estimated a cumulative need for expenditure for adaptation of Rs 56.68 trillion by 2030.Adaptation finance refers to the funds spent to help...
Led by property, India, Middle East, and Africa see rates decrease in Q3, says Marsh
Insurance rates in the third quarter decreased 14% in the IMEA region, the highest across all regions. No major losses were reported across major insurance lines. Singapore: Rates continued to vary significantly by market, with the steepest reductions in India and...