Iran’s Islamic Revolutionary Guard Corps said Wednesday that “safe,...
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MS Amlin launches industry-first property treaty consortium, to boost capacity for global data centres
The Property Treaty Per Risk (PPR) Consortium,bringing together...
Oil trader’s lawsuit exposes fragility in global freight pricing system”
The case is the latest example of how oil traders and shippers are...
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...
Passenger vehicle wholesales marginally down at 3,44,656 units in May: SIAM
Total vehicle wholesales across categories were up 1.8 per cent at 20,12,969 units as against 19,76,674 units in May last year, it added. Domestic passenger vehicle wholesales were marginally down 0.8 per cent at 3,44,656 units in May this year as compared to 3,47,492...
Air India’s Ahmedabad crash claim likely to hit around $475 million, liability losses can touch $350 million, says GIC Re
As surveyors and lawyers from London, appointed by reinsurers of Air India policy, are now camping in Ahmedabad to take stock of devastation and prepare various loss reports including Hull and passenger liability so that re/insurers will start paying...
Plane crash DNA tests identify 47 victims, 24 bodies handed over to kin
The committee, headed by Union Home Secretary Govind Mohan, is mandated to ascertain the "root cause" of the plane crash and assess any contributing factors, including mechanical failure, human error, and regulatory compliances. The committee has been mandated to...
Iran-Israel war could hurt exports; increase insurance costs: Exporters
"The war will further hurt global trade. The situation was gradually improving but now again the trade will be impacted. Our exports to Europe and countries like Russia may get hurt. Freight rates and insurance are expected to increase," Federation of Indian Export...
Ships warned to avoid Red Sea, log Hormuz voyages after Israel hits Iran
“We have reports that more ship owners are now exercising extra caution and are opting to stay away from the Red Sea and the Persian Gulf,” said Jakob Larsen, chief safety & security officer with shipping association BIMCO. Merchant shipping is continuing to pass...
Helicopter crashes near Kedarnath shrine, all seven on board killed
Rudraprayag District Disaster Management Officer Nandan Singh Rajwar told PTI that the accident took place above the forests of Gaurikund amid poor visibility due to bad weather. Helicopter crashes or emergency landings are occurring at an alarming frequency on the...