JG Won, President & CEO, Korean Re, announcing the launch of...
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Severe convective storms: Costliest insured global peril in 21st century, says Aon Report
"This year's report highlights the growing need for collaboration...
AM Best revises global reinsurance outlook to Stable from Positive, notes accelerated softening in Property pricing
Although competitive conditions have increased in property...
Jessica Schappell appointed as Beazley’s APAC head
Jessica Schappell The risks facing the region are getting more complex and a recent Beazley report found that 44% of businesses in Singapore believe they operate in a high-risk environment. London: Beazley, the leading specialist insurer, announced the appointment of...
No panel formed for extending benefits to cover citizens above 70 under Ayushman Bharat, says govt
Union Minister of State for Health Prataprao Jadhav said 34 insurers and third-party administrators were live and approximately 300 hospitals ramping up to start sending their claims on the National Health Claims Exchange (NHCX), which aims to streamline and fasten...
PSU insurers must reskill their employees and deploy best of technologies, says DFS Secy
From( L to R) , Deepti Gaur Mukerjee, CEO, National Health Authority, Vivek Joshi, secretary, Department of Financial Services(Virtual), Girija Subramanian, CMD, New India Assurance at the 106th Foundation day celebration of New India Assurance The government is...
Head and neck cancers on the rise in India, youth at key risk: Experts
"India is seeing a surge in head and neck cancer cases, especially among young men, due to increased tobacco consumption and Human Papillomavirus (HPV). Around 80-90 per cent of oral cancer patients have been found to use tobacco in some form, be it smoking or...
Insured losses from CrowdStrike outage could reach $1.5 bln, CyberCube says
Reinsurance broker Guy Carpenter said that insurers may face claims on directors and officers’ and property insurance as a result of the outage, in addition to cyber insurance claims Global insured losses from last week’s massive IT outage are likely to range from...
Eco- Survey flags off possible misinterpretation of principles-based regulations by private sector insurers
``Globally, the private financial sector has repeatedly shown itself to be adept at selective or misinterpretation of principles-based regulations to its benefit,’’ cautioned the report released on Monday adding that when it comes to financial products, globally,...
Global IT outage: Enhancing cyber resilience
The incident highlights the need to shift our perception of cybersecurity from a mere IT issue to the broader concept of cyber resilience as an integral part of business resilience. In the face of a cyberattack, businesses should be able to recover fast from an...
Global IT outage: A ‘huge wake-up call’ for cyber insurance industry
Insurers are expecting a "wave of notifications" in the coming days, and losses are likely to be seen under business interruption and dependent business interruption insuring clauses, Acrisure Re said in its bulletin. Insurers may also suffer "bricking losses" if the...
Insured losses from CrowdStrike’s outage likely total $540 million to $1.08 billion, says insurer Parametrix
Fortune 500 firms excluding Microsoft to see $5.4 bln in CrowdStrike losses LONDON: U.S. Fortune 500 companies, excluding Microsoft will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday. CrowdStrike's...
18 killed as plane crashes during takeoff at Kathmandu airport
The plane caught fire after skidding off the runway at Kathmandu airport and crashing into a field east of the runway," the airport official added Kathmandu: A private airlines' Pokhara-bound plane crashed during takeoff at the Tribhuvan International Airport (TIA)...