``According to our modelled peak-loss scenario, insured losses...
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Nearly 45% of Indian road accidents fatalities involve 2-wheelers, says Secy, MoRTH
Reaffirming the Government’s focus on high-risk areas, he informed...
Train accidents decline by 90 pc since 2014-15, says Ashwini Vaishnaw
Data shared by the minister showed that during 2004-05 to 2013-14,...
Jamaica’s insured losses from Hurricane Melissa likely to fall on reinsurers:AM Best
In its Best’s Commentary, “Jamaica's Insured Losses From Hurricane Melissa Likely to Fall to Reinsurers,” AM Best notes thatinsurance penetration in Jamaica is low as only a small portion of property is insured on the island, which will limit insured losses. OLDWICK,...
Starr to acquire IQUW group, set to become ninth-largest agency operating at Lloyd’s
Outside of the Lloyd’s market, Starr writes commercial non-life insurance globally, with coverage in over 170 countries across 6 continents. Following completion of the transaction, Peter Bilsby, IQUW Group’s chief executive officer, will lead Starr’s international...
World’s first Climate Resilience Bond issued by Tokyo Metropolitan Government
“This new bond label is a notable development for the market.The bond’s oversubscription “signals that the market is ready to allocate capital to these types of investments,”Melissa Cheok, associate director at Sustainable Fitch The Tokyo Metropolitan Government...
Hurricane Melissa makes Cuba landfall after lashing Jamaica
The hurricane is expected to result in property damages costing between $5 billion and $10 billion in Jamaica, according to an estimate by Cotality, a property intelligence company. Hurricane Melissa made landfall in Cuba less than a day after it became the strongest...
Catastrophe bond investors brace for Jamaica payout
Depending on exactly where Melissa hits Jamaica, total losses may range from $5 billion to $16 billion, according to Chuck Watson, a disaster modeler with Enki Research. Investors in a catastrophe bond tied to Jamaica look set to experience a trigger event as...
Cyclone Montha: Two dead in Andhra, crops suffer damage, CM Naidu says state minimised loss
N Chandrababu Naidu,Chief Minister , Andhra Pradesh Citing preliminary estimates, the government had noted on Tuesday that standing agricultural crops in as many as 38,000 hectares were destroyed due to the impact of Montha and horticulture crops in 1.38 lakh hectares...
Govt aggregating PSUs’ demand to ensure long-term charters for Indian carriers
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri "Oil marketing companies use vessels for crude imports. To reduce recurring cost through ownership of vessels (ships), we are aggregating PSU cargo demand to ensure long-term charters for Indian carriers,...
India-bound tanker carrying Russian crude U-turns in Baltic Sea
The vessel’s U-turn in the Fehmarn Belt occurred a week after the US slapped sanctions on state-owned Rosneft and fellow Russian oil giant Lukoil PJSC. Transactions involving the two companies must be wound down by Nov. 21, the Treasury Department said. An India-bound...
Cyclone Montha lashes India’s east coast; kills one
India's weather department has forecast extremely heavy rain on Wednesday for the coastal states of Andhra Pradesh, Odisha, Telangana and West Bengal with wind gusts of up to 90 kmph. The cyclone is expected to weaken to a deep depression later in the day....
India aims 70 pc carbon emission cut per tonne of cargo by 2047: Sarbananda Sonowal
“With our unique geography along key global trade routes, India is well placed to become a hub for green shipping corridors, connecting domestic and international markets through clean energy trade. To harness this opportunity, India has launched Green and Digital...