Jérôme Haegeli, Swiss Re's Group Chief Economist, said: "While...
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Trade unions go on daylong strike, services largely unaffected
The unions' demands include doing away with the four labour codes,...
Houthi militants continued to pound a commercial ship in the Red Sea
“These incidents highlight the Houthis’ disregard for human life,...
Global Nat Cat economic losses reach $77 Billion in Q1 2023, the highest Q1 total in 12 years, Gallagher Re
Public and private insurance entities covered at least an estimated $22B of that total, resulting in a 72% or $55B protection gap, the portion of the economic loss not covered by insurance The February earthquake sequence in Turkey and Syria accounted for an estimated...
NHA invites participation on the ‘National Health Claims Exchange-Sandbox’ under Ayushman Bharat Digital Mission
The current health insurance claims settlement process in the country is mostly manual, non-digital and laborious in nature posing challenges at every stage. The current process of exchanging claims lacks standardization across the ecosystem with most data exchange...
Ransomware attacks, human error as main cause of cloud data breaches in India and worldwide: Report
More than a third (38 per cent) of respondents in India (37 per cent globally) have experienced a data breach in the past 12 months, including 23 per cent (22 per cent globally) reporting that their organisation had been a victim of a ransomware attack Respondents...
Cybersecurity nightmare in Japan can pose global risks
The country produces about 80% of fine chemicals for electronics and dominates the global supply of photoresist, a light-sensitive material that’s used in making semiconductor chips, according to Ulrike Schaede, professor of Japanese Business at the School of Global...
Women outshine men for GM promotions in PSU general insurance companies
Out of 16 vacancies of general mangers across five companies including GIC Re, 11 have been cornered by women candidates New Delhi: The public sector general insurance companies, for the first time, have seen a few senior women officers (deputy general managers)...
Political Risk loss frequency surges in 2022,Ukraine war delivers widespread financial losses
Looking to the year ahead, Ukraine heads the list of interview panel members’ top risks for 2023, followed closely by decoupling from China and crisis and new regulations in the EU The 6th annual political risk survey produced by WTW, found that an unprecedented 92%...
ICICI Lombard reports 40 pc jump in net income to Rs 437 crore in Mar quarter
Gopal Balachandran,chief financial officer and chief risk officer The key profitability metric, the combined ratio of the company stood at 104.5 in FY23 against 108.8 per cent in FY22. In the March quarter, it was 104.2 against 103.2 a year ago The insurer's...
Indian insurance industry to cross Rs10 trillion of premium and Rs 59 trillion of assets in fy2022-23:IRDAI Chief
Debasish Panda,Chairman, IRDAI ” Insurers need to further to further collaborate with insurtechs more. I would also expect insurers to engage with the Insurance Information Bureau (IIB) more closely to make it a more vibrant body where they actually become the data...
General insurers to take action against errant hospitals, to set up Health Exchange Platform for 100 % cashless settlement of policies
S Prakash, managing director, Star Health and Allied Insurance Company “We would indentify honest hospitals and reward them. We will also penalise hospitals for fraud, overcharging and deficiency in services . Insurance Information Bureau (IIB) is working on a a...
Electric two-wheeler sales in India rise over two-and-half fold to 8,46,976 units in FY23: SMEV
"In the electric two-wheeler segment, the industry sold 7,26,976 high-speed E2W (top speed more than 25km/hr) in FY 2023," it added. In 2021-22, sales of low-speed e-scooters were at 75,457 units, while those of high-speed e-scooters were at 2,52,443 units. SMEV said,...