Health insurance sector itself is facing headwinds with 12-15%...
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AIG to pay Neal $2.7 million to compensate for “foregone incentives”
John Neal, forner CEO, Lloyd's AIG withdrew its employment offer to...
Why accident insurance cover only for those purchasing tickets online, SC asks railways
A bench of Justices Ahsanuddin Amanullah and K Vinod Chandran was...
MoRTH aims to halve road accidents and casualties by 2030: Gadkari
Nitin Gadkari,Union Minister,Ministry of Road Transport and Highways According to the latest report by Ministry of Road Transport and Highways (MoRTH), the number of road accidents in India went up 12 per cent to over 4.6 lakh in 2022, resulting in deaths of 19 people...
GIC reaches agreement to buyout Cinven’s stake in Miller
``This further investment in Miller is consistent with GIC’s strategy of developing long-term relationships with our portfolio companies and targeting the highest quality businesses. The defensive nature and strong market dynamics of the (re)insurance market, coupled...
WTW appoints new Corporate Risk & Broking Southeast Asia and Singapore leaders
``From these regions, we see increased awareness of risk and strong demand from companies for more sophisticated risk transfer solutions, driven by data insights and created with specialty expertise'' Singapore: WTW, a leading global advisory, broking and solutions...
MoF rejects unions’ concerns, stoutly defends ongoing restructuring of PSU general insurance cos
The PSU general insurance companies are board governed commercial entities operating in a competitive and regulated market. This entities are empowered to take appropriate decision in such a matter in compliance with regulatory framework and guidelines, said Bhagwat...
Cyclone Michaung: Economic and Insured losses of Chennai floods will be much less than 2015 event
Preliminary estimate of 5th December devastation out of Cyclone Michaung in Tamil Nadu indicate the economic losses of around Rs 12,000 crore for the state and insured losses limited between Rs 1,500 crore to Rs 2000 crore Chennai: With all its fury and...
WHO releases guidelines on chronic low back pain
Low back pain is the leading cause of disability globally. In 2020, approximately 1 in 13 people, equating to 619 million people, experienced LBP, a 60% increase from 1990. Cases of LBP are expected to rise to an estimated 843 million by 2050, with the greatest growth...
Auto cos unveil comprehensive service plan to serve flood-affected customers
"The cyclone Michaung has had a severe impact on the lives and belongings of people as the affected cities got flooded. We have announced a special service campaign under which we are offering a comprehensive check-up apart from substantial support on labour and spare...
Insurers heavily exposed to climate change, global watchdog says
Insurers continue to have "material exposure" to climate change through investments in fossil fuels and energy-intensive industries, as well as through their underwriting of natural catastrophe risk, the global insurance watchdog said London: Insurers are heavily...
Africa Specialty Risks gets Lloyd’s in-principle approval to launch Syndicate in 2024 with managing agent Apollo
Mikir Shah, CEO, Africa Specialty Risks ASR Syndicate 2454 aims to begin underwriting in March 2024, and will focus on underwriting business across Africa, which represents around 2% of Lloyd’s business globally. This presents a unique opportunity for specialty risk...
Rising war risks prompt property insurers to rethink cover
“There’s a chance that the reaction to Ukraine and others is going to have more of an impact on other parts of the world that are not live situations right now but could be live in the future like Taiwan. You can’t get anything in Ukraine at this point in time. For...