Since 2023, Mumbai-based IRClass has de-classed 235 ships from its...
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India’s Construction Sector: Insurers increase focus on risk and project governance, Aon report
“India remains a dynamic and rapidly expanding construction market...
UK’s IGI secures license to operate in India’s GIFT City
``This also furthers our diversification, and our strategy of...
US allies see no way of opening Hormuz Strait during war
European capitals are preparing to combine military and insurance options for a post-conflict transition period.The UK has been in talks with Lloyds of London — the world’s largest insurance market — about insurance products and prices for when that happens, according...
US sending Marines and amphibious assault ship to Middle East, officials say
Even if the conflict does stop soon, there will be no rapid recovery from the upheaval caused by airstrikes and Iran’s virtual closure of the Strait of Hormuz, the conduit for 20% of the world’s oil and liquefied natural gas The U.S. military is deploying a large...
Indian gas tankers getting ready to sail through Hormuz, data shows
India’s foreign ministry spokesperson, Randhir Jaiswal, said separately on Friday that the country was “in favor of safe and unhindered movement” of India’s fleet of 22 vessels which were inside the Gulf, adding that Prime Minister Narendra Modi was talking to other...
Wildfires, storms, floods contribute to record 92% of global insured losses in 2025:Swiss Re
``According to our modelled peak-loss scenario, insured losses could even climb to about USD 320 billion in 2026. As exposure keeps building, the upward trend in insured losses is structural and it is critical to identify the risk drivers behind this to manage and...
Nearly 45% of Indian road accidents fatalities involve 2-wheelers, says Secy, MoRTH
Reaffirming the Government’s focus on high-risk areas, he informed that 100 districts with the highest number of accidents have already been identified for targeted interventions. New Delhi:V Umashankar,secretary, Ministry of Road Transport and Highways, remarked that...
Train accidents decline by 90 pc since 2014-15, says Ashwini Vaishnaw
Data shared by the minister showed that during 2004-05 to 2013-14, there were 1,711 consequential train accidents, resulting in 904 deaths and 3,155 injuries. This declined to 678 accidents between 2014-15 and 2023-24, with 748 deaths and 2,087 injuries. New Delhi:The...
West Asia Crisis: Higher underwriting uncertainty in global terrorism and political violence insurance markets
For insurers and reinsurers, the key issue is not only the probability of attacks but also how losses may accumulate across multiple insurance lines. Terrorism and political violence incidents can trigger claims simultaneously in property, marine, aviation, and...
Lloyd’s to continue providing cover for vessels traveling through Strait of Hormuz
Shippers seeking insurance for tankers going through the strait “is pretty rare at the moment because people are focused on safety and security,” Lloyd’s chief executive officer Patrick Tiernan London:The Lloyd’s of London insurance market will continue to provide...
Govt announces Rs 500 crore RELIEF measures to support exporters amid West Asia conflict
Rajesh Agrawal,Commerce Secretary The scheme focuses on mitigating the sharp rise in logistics costs and insurance premiums for shipments heading to the Gulf and West Asia.The support is divided into three distinct components to address different segments of the...
Navi launches Motor cover
Navi General Insurance has launched a Motor cover. Customers can purchase comprehensive, own-damage or third-party policies for cars and two-wheelers directly on the Navi app, with instant policy issuance, transparent pricing and zero commissions. ``Motor insurance is...