The health ministry's initiative, launch in October last year, to...
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Indian Insurance Broking Industry-2026:Future trends and challenges
The old ways of doing business are no longer enough. Brokers are...
Country’s 70% provided with free medical treatment up to Rs 15 lakh: Amit Shah
Amit Shah, Home Minister Amit Shah, Home Minister, said the Indian...
New record of 142 global Nat Cat events globally, USD108 billion insured losses in 2023: Swiss Re
Moses Ojeisekhoba, Swiss Re's CEO Global Clients & Solutions, says: "As weather hazards intensify due to climate change, risk assessment and insurance premiums need to keep up with the fast-evolving risk landscape. Looking ahead, we must focus on reducing the loss...
Policy Revolution: Empowering insurers with flexibility in Corporate Policies
Ashwani Dhanawat,Chief Investment Officer, Shriram General Insurance Historically, insurers were bound by rigid formatting requirements for policy wordings, limiting their ability to tailor insurance products to the unique needs and risk profiles of their clients.. By...
Cargo ship hits Baltimore’s Key Bridge, bringing it down, Rescuers are looking for people in water
The ship crashed into one of the bridge’s supports, causing the structure to break apart like a toy. It tumbled into the water in a matter of seconds — a shocking spectacle that was captured on video and posted on social media. The vessel caught fire, and thick, black...
2024 Geopolitical Risk: Increasingly complex global risk landscape in landmark election year
Insured losses from civil unrest by 4-year period – 2012 to 2023 (Source: Howden, NOVA) Howden data shows that insured losses from civil unrest have risen significantly over the last decade to total USD 7 billion in 2020-23. Rather than a series of random acts, recent...
M&A activities: Private Equity dry powder set to stimulate deals in 2024
Asia, the Middle East, and India were the most stable markets. Asia saw an influx of new insurers and exhibited a broader risk appetite, and while the Middle East and India saw a decrease in the overall number of deals, an increase in $1bn+ enterprise value deals saw...
Tokio Marine Kiln appoints Jonathan Grossman in Asia Pacific Property division
Tokio Marine Kiln (TMK) today announces the appointment of Jonathan Grossman to its property division in Singapore as underwriter, effective immediately. He will focus on writing business across the Asia Pacific region, as well as Australia and New Zealand, given his...
Sanctions are finally starting to bite Moscow’s oil supply chain
Indian oil refiners — Moscow’s second-biggest customers after China since the 2022 invasion — will no longer accept tankers owned by state-run Sovcomflot PJSC because of the risk posed by sanctions. The Russian oil-export machine funding the Kremlin’s war in Ukraine...
After pricing, IRDAI now allows general insurers freedom of wordings in corporate policies from Apr 1
Now, the insurers can change terms, conditions, clauses, warranties, policy and endorsement wordings applicable to certain classes of business such as Fire, Engineering, Motor, Workmen’s Compensation and other classes of insurances which were not allowed earlier....
Consumer panel directs bank, insurer to pay Rs 30 lakh claim to Mumbai cop injured in accident
The complainant is justified to claim of Rs 30 lakh with an interest rate of 6 per cent from the date of repudiation (June 5, 2019) till its actual realisation, the commission said. It directed the bank and the insurance firm to issue the claim jointly and...
Higher burden of breast cancer in Tamil Nadu, Telangana, Karnataka, Delhi: ICMR study
According to the projections, the burden of female breast cancer in India in 2025 is expected to be 5.6 million DALYs. Premature deaths due to breast cancer (YLLs) would contribute 5.3 million DALYs to the total burden, with the remaining due to disability (YLDs). New...