Presiding officer Sudeep Raj Saini observed that merely because the...
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IRDAI chairman Seth meets Indian reinsurers
Ajay Seth, chairman,IRDAI ``It was an introductory meeting and had...
Crop loss from floods wild animals now covered under PM Fasal Bima Yojana: Chouhan
"I want to give good news to farmers. PMFBY, which provides risk...
GIC Re and 3 PSU general insurers to shell out Rs 33 crore for JAL’s Tokyo mishap claim
Indian insurance industry sources said GIC Re will be paying around Rs18 crore while three other PSU general insurers, New India Assurance(NIA), Oriental Insurance Company(OIC) and National Insurance Company(NIC)will have fork out Rs 5 crore each to meet their part of...
U.S. insurer AIG leads $130 million “all-risks” policy for Japan Airlines plane -sources
The Japan Airlines policy mainly covers damage to the hull, one of the sources said. U.S. insurer AIG was the lead insurer on a $130 million “all-risks” policy for the Japan Airlines airplane which collided with another plane at Tokyo’s Haneda airport, two insurance...
Capital supports ‘Smooth’ January 1 Renewals for Cedants: Aon
The report revealed that, in contrast to 12 months earlier, the key renewal period proceeded ‘relatively smoothly’, as a rebound in profitability and capital positions, and greater availability of retrocession capacity, encouraged many reinsurers to display increased...
Fast-evolving threat landscape leaves APAC businesses vulnerable: Beazley study
“As boardrooms prepare for risks on the horizon, it is encouraging that 37% of boardroom executives in Singapore are planning to explore insurance options that include risk and crisis management. In 2024, the insurance industry has a large role to play in helping...
Reinsurance: Jan 1 renewals see favourable market conditions
David Howden, founder & CEO, Howden Headwinds are nevertheless likely to persist into 2024. Expectations are for modest economic growth across advanced economies. Inflation volatility, climate change, the net-zero transition, civil unrest and war, can be more...
Why truck-bus-tanker drivers are up in arms against new law for hit-and-run cases?
There's a lack of consensus, with some arguing that over-speeding alone is not rash driving. The criteria for rash and negligent driving remain arbitrary and unclear, advocate Shashank Dewan New Delhi: With nation-wide strikes by truck drivers entering the second day...
Global shipping firms continue to pause Red Sea shipments
The Suez Canal is used by roughly one third of global container ship cargo. Redirecting ships around the southern tip of Africa is expected to cost up to $1 million in extra in fuel for every round trip between Asia and northern Europe Denmark's Maersk and German...
Govt shortlists 5 GMs for selecting CMDs of New India and United India
The five GMs are –BS Rahul, Agriculture Insurance Company(AIC), Sunita Gupta, Oriental insurance Company(OIC), Hitesh Joshi along with two of his other colleagues V Balkrishna and his spouse Jayshree Bala from GIC Re Rahul will only be considered for UII and NIA...
Japan Airlines plane on fire at Tokyo’s Haneda airport,all 379 passengers, crew escape
All the 367 passengers plus eight toddlers and 12 crew on board the Airbus SE A350-900 plane were safely evacuated, an airline spokesperson said by telephone. Flight JL516, operated by a 2 year old Airbus A350-900 jet, took off from New Chitose airport near Sapporo at...
Japan issued tsunami alerts after a series of strong quakes in the Sea of Japan
A tsunami of about 3 metres high was expected to hit Niigata and other prefectures on the western coast of Japan. Smaller tsunami waves were already confirmed to have reached the coastline, according to NHK.The area includes a nuclear plant. Tokyo Electric Power Co.,...