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AM Best upgrades credit ratings of FAIR Oil & Energy Insurance Syndicate
As at year-end 2024, the Syndicate consisted of 20 members from...
Scor under examination over former chair’s alleged acts related to a Covea deal
Denis Kessler, former chairman, SCOR Denis Kessler, who was SCOR’s...
Auto sales in fast lane on easing chip shortage blues, festive demand
"If we look at the entire industry, the pending orders should be in the range of 7-7.5 lakh units. Now how the production gets ramped up would determine how well the industry performs," MSI Senior Executive Director (Sales and Marketing) Shashank Srivastava New Delhi:...
Pakistan could have averted climate catastrophe that has killed over 1,000
The infusion of $1.16 billion by IMF might help unlock enough cash to get the country through the next couple of years — but the floods themselves have caused more than $10 billion of damage, much of which will end up boosting the country’s $255 billion in debt. If...
Health insurance needs to provide covers for geriatrics care and pre-existing diseases, IRDAI chief
Debasish Panda, Chairman, IRDAI Health insurance sector has the potential to grow at a CAGR of 30-35 per cent with 3 A’s - Awareness, Accessibility and Affordability IRDAI has come up with BIMA SUGAM- an all in one insurance platform, where one can sell all products...
Wildfire, floods don’t need to turn into disasters: UN risk report
“Disasters occurring in completely different parts of the world at first appear disconnected from each other. But when you start analyzing them in more detail it quickly becomes clear that they are caused by the same things, for example greenhouse gas emissions or...
Prevention measures crucial to tackling risk of battery fires in shipping: Allianz
AGCS analysis of over 240,000 marine insurance industry claims over the past five years (with a value of €9.2bn), shows that fire/explosion (from all causes) is the most expensive cause of loss, accounting for 18% of the value of all claims Singapore: Recent incidents...
Pakistan’s fatal flooding has hallmarks of global warming:
The recent flood in Pakistan is actually an outcome of the climate catastrophe … that was looming very large. The kind of incessant rainfall that has happened … has been unprecedented,"said Anjal Prakash, a research director at India's Bharti Institute of Public...
Floods, other water-related disasters could cost global economy $5.6 trillion by 2050 -report
Of the five business sectors most vital to the global economy, manufacturing and distribution would be hit hardest by disasters costing $4.2 trillion as water scarcity disrupts production while storms and floods destroy infrastructure and inventory. read more Last...
ACKO Accident Index 2022: Delhi NCR records highest number of road accidents in the country
The Index, which is a report detailing accident trends seen across key metros, including Bengaluru, Chennai, Delhi, Hyderabad, and Mumbai, revealed Delhi recording an accident rate of 20.3%, while Mumbai stood at 18.2%. The reasons behind the mishaps were also fairly...
Major Asia-Pacific reinsurers deliver stable performance on growing competition and uncertainty: AM Best
2022 is shaping up to be another profitable year thanks to benign natural catastrophe activity in the region in the first half of the year for Asia Pacific domiciled reinsurers The accumulation of natural catastrophe risks in Asia-Pacific reinsurers’ home markets...
Asian Markets: Reinsurers grapple with economic challenges and climate risk, says Fitch
Asia-Pacific reinsurers face weather-related catastrophe losses from flooding and drought, such as the major floods in eastern Australia and China in 2022. Reinsurers are re-assessing risk modelling and catastrophe management frameworks to help quantify potential...