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AI-boosted hacks with Anthropic’s Mythos could have dire consequences for banks
Wall Street banks have started testing Mythos internally after the...
Oil tankers steer clear of Hormuz ahead of US blockade
Trump’s announcement effectively slowed oil tanker movements in the...
AIC launches a new cover for aquaculture industry
(L to R) Lavanya R Mundayur, CMD, Agriculture Insurance Company, M Nagaraju, Secretary, Department of Financial Services(DFS), Parshant Kumar Goyal, Joint Secretary, DFS “With Aquaculture insurance, we are not just mitigating risks but fostering resilience in one of...
Govt to meet stakeholders to assess impact of Iran-Israel conflict on India’s trade
According to think tank GTRI, any closure or military disruption in the Strait of Hormuz would sharply increase oil prices, shipping costs, and insurance premiums, triggering inflation, pressuring the rupee, and complicating India's fiscal management. New Delhi: The...
Bajaj Allianz General launches state-wise health insurance policies tailored to regional needs
Pune: Pune based Bajaj Allianz General Insurance, has unveiled a pioneering initiative -- the 'State-wise Health Insurance Policy', a first-of-its-kind health insurance product thoughtfully tailored to address the distinct healthcare realities of each Indian state. By...
Israel-Iran conflict spreads into cyberspace and crypto
“Most disruptive and destructive cyberattacks are about influence and psychological impact rather than practical impact,” said John Hultquist, chief analyst at Google’s Threat Intelligence Group. “That’s why a lot of them involve an effort to publicize the incidents...
Iran-Israel Attacks: Insurance costs jump for ships sailing in Persian Gulf
Underwriters are now charging 0.2% of the value of a ship for calls into the Gulf, up from 0.125% prior to the conflict breaking out, according to Marcus Baker, global head of marine cargo and logistics at Marsh McLennan, the largest insurance broker. Rates have also...
Battery Ventures invests in Descartes Underwriting
“Over the past six years, Descartes has established itself as the leading parametric insurance business for climate-related risks, remaining true to our scientific approach to risk transfer.''Tanguy Touffut, CEO and co-founder PARIS: Descartes Underwriting, a major...
Nuclear-powered ships may reshape trade with cleaner, faster transport, to pose problems for insurance
Commercial insurance companies won’t provide coverage for ship that runs on fission because the potential cost of a nuclear accident is simply too high. Without insurance, few civilian ports would allow a nuclear-powered cargo ship to dock The commercial shipping...
Florida focused insurtech Slide plans to $340 million US IPO
Slide and some of its existing stakeholders are looking to raise up to $340 million by offering 20 million shares priced between $15 and $17 each, the company revealed in a filing on Monday. Insurance tech company Slide is aiming for a valuation of up to $2.12 billion...
Israel-Iran Conflict: War risk insurance premiums for shipments to Israel spurt
Individual underwriters will price risk and rates differently, but this will add tens of thousands of dollars of extra daily costs for every voyage War risk insurance premiums for shipments to Israel are as much as three times higher than a week ago as the war between...
AI plane crash: Insurers in a fix as both policyholders and nominees among dead
There are instances of an entire family perishing or one of the spouses dying in the horrific June 12 crash of the London-bound plane, which claimed the lives of 241 persons on board and 29 on the ground Ahmedabad: Insurance companies are facing challenges in settling...