" "The industry is undergoing a fundamental shift. As risk becomes...
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Supertankers cross Hormuz shipping strait after avoiding it in past 24 hours
Greece’s shipping ministry warned on Sunday that the country’s...
Trump tariffs stoke supply chain worries for US businesses, survey shows
“Our survey showed supply chain disruptions were a concern to...
Venkatesh Naidu appointed as CEO of Bajaj Capital Insurance Broking
Bajaj Capital Insurance Broking has announced the appointment of Venkatesh Naidu as its chief executive officer. Venkatesh has over 20 years of experience in working and building renowned insurance organisations in India like Exide Life Insurance, Bharti AXA Life...
SecureNow launches ‘Property & Equipment’ cover for clinics, laboratories & hospitals
Insurance broke SecureNow has launched the ‘Property & Equipment Insurance for Clinics, Laboratories & Hospitals’. Approximately, it would cost Rs 840 plus taxes annually to insure a building of Rs 100,000 and electronic equipment of Rs 100,000. Through this...
Chilean state sues mining multinationals for causing environmental damages
Chile’s leftist President Gabriel Boric has made environmental protection a key focus of his administration, including rights over water, since taking office in March In March, Chile’s environmental watchdog SMA fined Escondida for exceeding the maximum level allowed...
Willis India receives IRDAI nod for full ownership, appoints Vivek Nath as head of India ops
Vivek Nath, CEO, WTW India SINGAPORE: WTW (Willis Towers Watson), the third largest global re/insurance broker, today has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) and has closed the transaction on the acquisition of...
AIG looks at cutting insurance for Russia, Ukraine
“What we are now seeing are the underwriters starting to introduce Russia, Ukraine wording into their policies,” said Meredith Schnur, managing director, U.S. and Canada cyber brokerage leader at insurance broker Marsh, declining to name the insurers Insurance brokers...
Costs of insuring ships in Black Sea skyrocket
Underwriters are charging as much as 10% of the value of a ship’s hull — basically the vessel’s worth as an asset — for what is called an additional war-risk premium, according to four people involved in the market. Some are simply quoting to cover at prices that they...
Global reinsurance capital rises 8.4 % to $728 billion in 2021
The underlying combined ratio improved to 99.8% (2020: 100.7%), which is the first time since 2014 that it has fallen below 100% A majority of the reinsurers have reported strong results for 2021 with improved capital positions backed up by rising equity markets and...
IRDAI to scrap licensing renewals for insurance brokers and other intermediaries: chairman Panda
Debasish Panda, chairman,IRDAI ``We have decided to dispense with renewal of registration for insurance intermediaries and allow their licenses in perpetuity,'' said Debasish Panda, newly appointed chairman of IRDAI while addressing a press conference in Mumbai...
Prominent insurance brokers probed by for Bribery and Corruption by UK Serious Fraud Office
The investigation is linked to a U.S. Department of Justice probe into corruption at Ecuador’s state-run insurance fund, Seguros Sucre The insurance firm, which is in the process of being liquidated, is emblematic of a culture of graft that has kept former President...
Aon appoints Dai Jia to as general manager of its China ops
Dai Jia Today, Aon-COFCO is the leading provider of risk management, insurance and reinsurance brokerage in China, with over 600 employees operating in Shanghai, Beijing, Guangzhou, Nanjing, Chengdu, Shenzhen, Hangzhou and Jinan SHANGHAI:Aon-COFCO, a joint venture...