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India aviation watchdog finds 263 lapses at Indian airlines in annual audit
DGCA found 51 safety lapses at Air India in its July audit,...
Markel Insurance to sell reinsurance renewal rights to Nationwide
The sale is part of Markel's broader strategy to simplify...
Apple supplier Foxlink says working to resume production after India fire
Company had said that the site had been blocked off by the fire department and that four production lines were known to be damaged As the plant, equipment and inventory are covered by insurance, the fire has not yet had a significant impact on the company’s finances...
India to withdraw licenses for oil tankers, bulk carriers older than 25 yrs
"There is a need to modernise the Indian fleet, which requires extensive review of the requirements of the registration and operation of the ships," the Directorate General Of Shipping said in the order uploaded on its website late on Monday "Age norms will assist in...
Overall passenger vehicle dispatches cross 3.35 lakh units in Feb; automakers post robust sales
The country's largest carmaker Maruti Suzuki India on Wednesday said its domestic wholesales rose 11 per cent to 1,55,114 units in February as compared with 1,40,035 units in the same month last year New Delhi: Driven by strong demand, the overall passenger vehicle...
Canopius expands APAC footprint with Melbourne office launch
Canopius will initially underwrite casualty business from Melbourne and broaden its offering as the business grows, with plans already underway to make new hires in the coming year. SINGAPORE: Canopius Group, a leading global specialty (re)insurer, today announced the...
Too early to forecast the impact of El Nino conditions on the monsoon season: IMD
Below-normal rainfall was expected over most areas of northwest India, west-central India and some parts of east and northeast India. Normal to above-normal rainfall is likely over most parts of peninsular India, east-central India and some isolated pockets of...
India to get heat waves this year after hottest February on record, to implement “heat-related health action plans
Average maximum temperature in February was 29.54 degrees Celsius, the highest since 1901, when the IMD started keeping weather records. The country received 68% lower rainfall than the normal in February, the weather office said. "Temperatures have already touched...
India’s sinking holy town faces a grim future
Joshimath’s future is at risk, experts and activists say, due in part to a push backed by the prime minister’s political party to grow religious tourism in Uttarakhand, the holy town’s home state. On top of climate change, extensive new construction to accommodate...
Expected rise in strikes, riots and protests to test business resilience: Allianz
The heightened SRCC risk environment means businesses need to remain vigilant about the different threats such activity can pose. In addition to buildings or assets suffering costly material damage, operations can be severely disrupted, resulting in significant loss...
Global cyber-insurance market makes a comeback, Price hikes moderate
Cyber-insurance pricing increased 10% from a year earlier in January, a fraction of the 110% annual increase reported in the first quarter of 2022, preliminary data from insurance broker Marsh McLennan show. If those trends continue, prices could be set to decline,...
Insurers face $500 million in claims for up to 60 commercial ships stuck in Ukraine
With insurers already grappling with exposure to commercial aircraft caught up in Russia, the prospect of payouts will likely translate into higher costs for shipments from the region A senior industry source said exposure for the ships currently stuck was estimated...