Despite potentially facing higher US tariffs than its ASEAN peers,...
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Reimagining Insurance:AI set to unlock next $4 billion profit opportunity in India
India’s Insurtech ecosystem is at a sizeable scale, with cumulative...
Aiming affordability,IRDAI chief hints at key distribuition reforms in Indian insurance sector
``We see BIMA Sugam as an efficient consumer-facing platform, which...
Reinsurers stick to rule book, to pay only upto Rs 500 crore as claims for Rs 12,000 cr Teesta Hydro power project
“For Sikkim event, loss assessment is underway. We do not expect it to be a major event based on initial information available,” said Hitesh Joshi, general manger, GIC Re to Asia Insurance Post ``Our hands are tight, We will go by the rule book and the...
Munich Re lifts target as lower-than-expected claims fuel profit
Chief Executive Officer Joachim Wenning is in the midst of a five-year strategic plan that calls for earnings per share to increase at least 5% per year on average. He has shown willingness to discontinue businesses that no longer meet expectations in terms of prices...
Mind the Gap: Insuring India’s Missing Middle
Alpesh Shah, Managing Director & Senior Partner, Boston Consulting Group, Swayamjit Mishra, Partner, BCG, Aarav Shah, student, Bombay Scottish School As India, with current under-penetration and scale as the most populous nation in the world, begins its journey to...
Insurtech Zopper bags Bima Vahak deal, to develop tech platform for selling Bima Vistaar to masses
Zopper has been awarded the project by the Indian insurers, represented by both the councils- General Insurance Council and Life Insurance Council, to create a comprehensive technology platform that can be used by the industry to enroll agents, mainly women, in...
Aviation war insurers cancel some cover for Israel, Lebanon
“Insurers want regular updates – each airline has a different risk profile and therefore different risk mitigation strategies,” said a spokesperson for U.K. insurance buyers’ association Airmic's aviation group Aviation war insurers have given notice to cancel cover...
Toyota Tsusho Insurance Management Corporation joins the Brokerslink Network
TIM provides a range of insurance services, including brokerage for corporates, insurance, reinsurance, captive management, global insurance program management and risk consultancy. The company was founded on providing broking services for the Toyota Group companies...
Global insured losses from natural disaster events reach $88 billion by the end of Q3 2023, says Aon report
For the first time, insured losses from SCS in the U.S. surpassed $50 billion and accounted for 60% of global insured losses London: Aon plc in its Q3 Global Catastrophe Recap report has revealed that that global insured losses from natural disaster events had reached...
Evergreen line declares force majeure on Israel shipment -customer note
War risk insurance rates have soared more than tenfold in recent days to Israeli ports with growing concerns over an escalation in hostilities Taiwanese container shipping line Evergreen has declared force majeure on a shipment to the Israeli port of Ashdod, with its...
Global economy exposed to $3.5 trillion from major cyber attack: Lloyd’s
“The global interconnectedness of cyber means it is too substantial a risk for one sector to face alone and therefore we must continue to share knowledge, expertise and innovative ideas across government, industry and the insurance market to ensure we build society’s...
Insurers have to compulsorily cover employees travelling in employer’s vehicle including driver: IRDAI
The compulsory cover has to be provided as an inbuilt coverage under the Compulsory Motor Third Party Liability Section of Private Car Package/ Bundled Policies and under standalone policies insuring Compulsory Motor Third Party Liability and no additional premium can...