Commenting on the appointments, Patrick Tiernan, Lloyd’s Chief...
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Aon appoints Andy Marcell to serve as CEO of Global Solutions
Andy Marcell Marcell will remain as CEO of Reinsurance until John...
Govt clears appointment of Sanjay Joshi as CMD of Oriental Insurance
Sanjay Joshi, CMD-designate, Oriental Insurance Company Joshi, who...
Insurers may refuse to cover planes flying to Ukraine or ships sailing through Black Sea
As they operate on an “aggregation” basis with marine and aviation war risk insurance, totting up the losses as one, claims in one area make reinsurers wary about the whole war risk sector, David Smith, head of hull and marine liabilities at broker McGill and Partners...
Gadkari launches country’s first-ever Surety Bond Insurance from BAGI, proposes ratings of contractors
Union Minister for Road Transport and Highways Nitin Gadkari `` It has taken almost three years to get IRDAI's approvals for Surety Bond product. We have sorted out a lot of technicalities which will make constructing road projects less risky and ensure safety and...
Paytm in collaboration with HDFC ERGO launches insurance for digital transaction up to Rs 10,000
This product is expected to further enhance the trusted digital payments experience and increase the adoption of the same in India. With the new insurance offering, which will come at a cost of Rs 30 per annum, users would be able to secure themselves against mobile...
Insurers shun FTX-linked crypto firms as contagion risk mounts
Specialists in the Lloyd's of London and Bermuda insurance markets are requiring more transparency from crypto companies about their exposure to FTX. The insurers are also proposing broad policy exclusions for any claims arising from the company's collapse. Kyle...
Surety Bonds: Govt allows insurers’ parity with banks as `secured creditors’ within insolvency law in case of defaults
Nitin Gadkari, Union Minister of Road Transport and Highways(Morth), will be formally launching the country's first Surety Bond on Monday Bajaj Allianz General insurance, with major reinsurance back ups from Munich Re and Swiss Re has already got its Surety Bond...
China’s cities battle first wave of COVID surge as wider spread looms
A sharp surge in deaths would test authorities' efforts to move China away from endless testing, lockdowns and heavy travel restrictions, and realign with a world that has largely reopened to live with the disease. BEIJING: Hearses bearing the dead lined the driveway...
Proposed amendments to insurance laws may lead to disputes in health claims, misappropriation: Unions
The employee unions are also opposed to the idea of insurers distributing insurers to distribute other financial products as it may distract the companies from their insurance products, distribution and proper attention on serving the policyholders Chennai: The Unions...
Impossible to track exact number of COVID cases in China: Chinese health agency
China's top official in charge of the pandemic, Sun Chunlan, while visiting hospitals on Wednesday said that China's capital, Beijing, has for the first time been hit by a significant outbreak. Chunlan explained that the country's focus needs to shift from preventing...
Oil tanker owners show signs of shunning Russia’s Asian crude
Since Dec. 5, buyers of cargoes from Russia have only been allowed to access industry standard insurance and an array of trade-critical services if they pay $60 a barrel or less There are tentative signs that oil tanker companies are avoiding sending their ships to...
Reinsurers to stop covering key war risks related to Russia-Ukraine conflict
Hannover Re and Munich Re are among reinsurers who have warned that they will cease to underwrite any kind of risks — even indirect ones — related to the conflict in Ukraine from the start of next year, according to people familiar with the matter. The major German...