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Beyond Balance Sheet: Strategic role of CFOs in insurance industry
True leadership in finance is not just about preserving value, it...
Aon’s advanced AI-powered supply chain offering to help businesses anticipate & mitigate hidden risks
Using AI and advanced data modelling, the solution analyses...
Govt unlikely to infuse capital in PSU general insurers in FY24
Vivek Joshi, secretary, Department of Financial Services(DFS), recently had reviewed the functioning of the four PSU general insurers in New Delhi but the pressing issue of the capital infusion was out of meeting's agenda The three PSU general insurers that require...
Maharashtra: 73 farmers commit suicide in Chandrapur from Jan to July 2023
A total of 3,51,091 farmers have taken Re 1 (premium) crop insurance under the Pradhan Mantri Fasal Bima Yojana (PMFBY) in the district, including 50,890 farmers who have taken loans and 3,00,201 non-loanee cultivators, according to the agriculture department...
Swiss Re ordered to pay former underwriter $1.6M for sexism, unfair dismissal
Ms. Sommer was awarded 1.29 million pounds in a ruling published on Thursday, which the tribunal said was for “injury to feelings, personal injury and aggravated damages” and other financial losses, including the loss of a bonus in 2021 London: A former Swiss Re...
NHRC wants Irdai to ensure insurers offer hassle-free health products to the disabled
insurers are limiting the coverage to those with benchmark disabilities in contravention of the legal framework. Even their websites, apps, and claims processes do not adhere to the accessibility standards mandated by the RPWD Act of 2016. A panel meeting of the...
IRDAI asks insurers to settle HP claims quickly
As the ongoing floods in Himachal Pradesh have caused widespread loss to property(homes and businesses) and infrastructure, the IRDAI on Friday asked general insurers and standalone health insurance companies to mobilise all resources to ensure that all claims are...
Highly mutated COVID variant found in new countries but pandemic in ‘a different phase’
It appears that current tests and medications remain effective against BA.2.86, although the variant may be more capable of causing infection in vaccinated people and those who have had COVID previously, the assessment said. There is no evidence yet that it is causing...
Global reinsurers pull back from natural catastrophe cover, says Fitch
Natural catastrophe business has become largely loss-making in recent years as prices have failed to keep pace with increasingly frequent, severe and volatile weather-related losses due to climate change. This has reduced reinsurers’ appetite to provide natural...
IRDAI lowers capital of FRBs to Rs 50 cr from Rs100 cr, order of preference streamlined to 4 levels from 6
This comprehensive regulatory overhaul is strategically designed to position India as a prominent global reinsurance hub. The revised Order of Preference for International Financial Services Centre Insurance Offices (IIOs), coupled with simplified regulations and...
AstraZeneca facing two London lawsuits over COVID-19
Anish Tailor, whose wife Alpa died in March 2021 after receiving her first dose of the vaccine, filed a product liability claim against AstraZeneca at London’s High Court on Aug. 4, according to court records AstraZeneca is facing a similar lawsuit from Jamie Scott,...
Insurers raise premiums for Black Sea tankers as tensions mount – traders
The war risk premium was increased from around 1% of the cargo’s cost to some 1.20-1.25%, the traders said The increase means every voyage will cost $200,000 per one Suezmax tanker (can carry 120,000-200,000 tonnes) more if Russian oil is delivered to India. The rise...