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India’s Cloudburst Challenges:Insurance gaps & Future safeguards
The entire Himalayan belt is increasingly vulnerable to...
UK sanctions Russia’s Lukoil and Rosneft, targets shadow fleet
"We are introducing targeted sanctions against the two biggest oil...
National Health Authority to host 2-day Arogya Manthan event in Delhi
Ayushman Bharat PM-JAY, launched on 23rd September 2018, has scripted a saga of health, productivity and prosperity. With 5.5 crore free hospitalizations worth Rs. 69,000 crore, the scheme has not only ensured good health for crores of poor and downtrodden families...
Govt considers financial creditor status for insurers issuing surety bond
The general insurance companies are seeking changes in the Indian Contract Act and Insolvency and Bankruptcy Code (IBC) to bring surety bonds at par with bank guarantees when it comes to recourse available to them in case of a default. New Delhi: To make surety bond...
Sanjeev Mantri to succeed Dasgupta as MD & CEO at ICICI Lombard Gen
Sanjeev Mantri, MD & CEO- designate, ICICI Lombard General Insurance `The Board of Directors based on the recommendation of the Board Nomination and Remuneration Committee have approved the appointment of Mantri presently with effect from December 1, 2023 or the...
Gujarat govt announces relief package for farmers in districts affected by floods due to Narmada river
Based on a report on the estimated damages caused to standing crops in the three districts due to flooding caused by the river, the government has decided to provide a special relief package from the state budget in addition to the State Disaster Response Fund (SDRF)...
Mahindra Finance acquires 20 pc stake in Mahindra Insurance Brokers for Rs 206 cr
The company, pursuant to receipt of approval from the Insurance Regulatory and Development Authority of India (Irdai), completed the acquisition of 20,61,856 equity shares of Rs 10 each of MIBL at a price of Rs 1,001 per share, Mahindra Finance said in a regulatory...
California lets insurers factor wildfire risks in rates to widen coverage
The continued retreat of larger insurance carriers from the California residential property insurance market signals ongoing regulatory constraints, rising cost inflation, and higher catastrophe losses, credit rating agency Fitch said in a note earlier this year...
Indian auto insurance technology startup listed on Nasdaq
''We're incredibly excited about the transformative potential of AI in reshaping the USD 800 billion auto insurance market and are going to be unwavering in our focus to build Roadzen as the leader at the intersection of AI, mobility and insurance,'' another release...
Bhargava Dasgupta quits as MD & CEO of ICICI Lombard, to join ADB as vice-president,Market Solutions
Bhargava Dasgupta, MD & CEO, ICICI Lombard General insurance Dasgupta has tendered his resignation, to pursue a career opportunity outside the country, said the company on Thursday.Dasgupta said the company has grown revenues six times and net profit 78 times over...
Lloyd’s and the UN team up to get insurance to climate vulnerable countries
After the initial focus on the Pacific, the partnership will seek to roll out the model to Asia and parts of Africa LONDON: Lloyd's of London is teaming up with the United Nations Capital Development Fund (UNCDF) to try and improve access to insurance for climate...
Offshore wind industry: Economic pressures and tech innovation need to be managed
Around 380GW of offshore capacity is expected to be added across 32 markets over the next 10 years, according to the Global Wind Energy Council, with half of that growth expected to come from the Asia Pacific region. Developers and their insurers need to manage a...