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Ecuador contracts first parametric insurance for 10k climate-vulnerable farmers, with Germany, UNDP, ISF and IDF support
The two parametric products — for extreme rainfall and drought-risk...
FSIB selects Hitesh Joshi as new CMD of GIC Re
Hitesh Joshi,executive director & acting CMD, GIC Re ``Keeping...
SBI to monetise subsidiaries after scaling up their businesses, no IPO for SBI General this year: Chairman
Dinesh Kumar Khara,Chairman,State Bank of India This move is anticipated to enhance valuation and deliver superior returns for the parent company, State Bank of India Mumbai: SBI Chairman Dinesh Kumar Khara has announced a strategic delay in monetizing the bank's...
Singapore rushes to clean-up oil slick after boat hits stationary fuel ship
Singapore's Maritime and Port Authority said in a statement late Saturday the oil leak from the vessel had been contained, and that the oil that escaped from the damaged tanker had been treated with dispersants Singapore: An oil spill caused by a dredger boat hitting...
UK imposes sanctions on Russian insurer Ingosstrakh protecting ‘shadow fleet’ of tankers
Sanctions against Ingosstrakh are notable because it is major provider of coverage for the commercial fleet moving Russian oil, largely displacing insurers based in the UK and Europe. The company didn’t immediately respond to a request for a comment on how the...
RCap resolution: NCLT to hear IIHL plea for deadline extension on June 20
IIHL has moved NCLT seeking a 90-day extension beyond the deadline to implement the resolution plan for acquiring Reliance Capital for a consideration of Rs 9,850 crore Mumbai: National Company Law Tribunal (NCLT) will hear the plea of Hinduja Group firm IndusInd...
Parametric Play: Insurance helps 46,000 Indian women avoid deadly work during heat waves
As soon as temperatures breached 43.6C in Ahmedabad, Makwana and thousands of other women were told that ICICI Lombard, an insurance company, would pay them a portion of their daily wages. The Self-Employed Women’s Association labour union runs the insurance...
Multibillion-euro court battle over stranded Russian jets begins in Dublin
Lessors are suing dozens of insurers around the world over losses of at least $8 billion after more than 400 planes were prevented from leaving Russia when Western sanctions over Moscow’s war in Ukraine forced the termination of their leases. Lloyd’s of London, Chubb...
Singapore Airlines offers compensation for flight hit by turbulence
“Passengers medically assessed as having sustained serious injuries, requiring long-term medical care, and requesting financial assistance are offered an advance payment of $25,000 to address their immediate needs,” that will form part of any final settlement, the...
Domestic passenger vehicle sales rise 4% in May to 347,492 units: SIAM
Moreover, the two-wheeler segment saw a notable 10% rise in sales, reaching 16,20,084 units in May, compared to 14,71,550 units in the same period last year New Delhi: India's passenger vehicle wholesales experienced a 4% year-on-year growth in May 2023, totaling...
GI Council to develop a tech platform auto-generating jobs seamlessly to surveyors for retail claims: IRDAI
The system should be developed in such a manner that whenever a claim is reported by the customer and registered by the insurer, the assignment of surveyor should happen automatically on a random basis by the new digital platform. The system will also seamlessly...
Russian Oil tanker does secret cargo switch near Singapore to dodge US sanctions
Russia has shipped about 3.4 million barrels a day of crude so far this year, valued at about $37 billion at the point of export, and working around western sanctions has been part of that The first Russian oil tanker attempting to deliver crude while under US...