Jeremy Nixon, the CEO of Ocean Network Express, said Monday there...
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Iran conflict disrupts global shipping as tankers are stranded, damaged
War risk premiums have risen up to 1% of the value of a ship in the...
Insurance gaps leave airlines exposed as Iran conflict widens
Airlines have aviation war cover for their fleets, including damage...
2 dead and 19 injured in Southern California plane crash
The people who died were believed to have been on the plane, while those injured were inside the building. The deceased victims will be identified after officials have contacted the next of kin, the Fullerton Police Department said in a statement FULLERTON, Calif: Two...
Auto sales: Retail sales up 9% in India, crosses 26 million units in 2024
In 2024, EV sales reached 1.95 million units, up from 1.5 million in 2023. EV penetration also went up to 7.5%, compared with 6.39% in the previous year. Driven by rising private consumption and disposable incomes, India saw vehicle retail sales increase by at least...
Jan1 renewals: Property catastrophe & specialty see reduction in risk adjusted pricing across board
Globally, reinsurers are on track to produce a combined ratio near or below 90% and a low-teens ROE for 2024. Not only have reinsurers' operating and performance ratios improved but so have aggregate balance sheet metrics, providing some context around how quickly and...
Jan 1 renewals see softening of reinsurance pricing, favourable market conditions to persist in 2025: Howden
After an extended period of rate increases across the (re)insurance sector – driven by accumulating and intersecting crises, capital constraints and cyclical adjustments – the availability of deployable capacity in the marketplace signals a new phase in the cycle,...
ICMR proposes revised version of National Essential Diagnostics List
The district-level hospitals must facilitate CT scan, MRI, mammography and echocardiography, according to the draft guidelines New Delhi: The ICMR has proposed a revised version of the National Essential Diagnostics List (NEDL), which enumerates the minimum number of...
Tribunal awards Rs 1.5 crore compensation to kin of man killed in accident
The deceased was the proprietor of a labour supplier firm and earning Rs 12.95 lakh annually. The compensation amount included Rs 1.06 crore towards future loss of dependency, Rs 42.68 lakh for income towards future prospects, Rs 15,000 each for the loss of estate and...
General insurers remain bullish on industry’s growth in 2025
"Cyber insurance is expected to gain prominence alongside the adoption of parametric insurance for disaster management and surety bonds as alternatives to traditional bank guarantees in infrastructure projects," Bajaj Allianz General Insurance MD & CEO Tapan...
High interest rates declining export finance impacting exporters’ competitiveness CII’s Budhia
`` Export Credit Guarantee Corporation of India (ECGC) currently provides 90 per cent insurance cover for exporters with a credit limit of up to Rs 50 crore. This coverage could be extended to Rs 100 crore, and more banks could be brought into the fold to ensure...
Commercial aviation suffers deadliest year since 2018
The spike in fatalities marks a reversal from 2023, which became the safest year ever in aviation with no deaths among large passenger jetliners — typically planes made by Airbus SE and Boeing. Commercial aviation has suffered its deadliest year since 2018 after the...
FinMin asks banks, insurance firms to expedite public grievances resolution
M Nagaraju, Secretary, Department of Financial services At the outset, the Secretary reiterated the Prime Minister's direction given in the Pragati meeting held on December 26, that all the Senior officers at the level of Chairman/ MD/ ED of PSBs/PSICs should review...