LIC is reportedly in the final stages of acquiring a significant...
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APR 1 Renewals: Indian general insurance industry rejoices with soft pricing, surplus capacity and market discipline
GIC Re and Foreign Reinsurance Branches (FRBs) and IIO reinsurers...
Mediclaim policy amount can’t be deducted from medical expenses compensation: HC
The full bench was hearing an appeal filed by the New India...
Workers at UK’s biggest container port Felixstowe due to begin 8-day strike
Strike action will cause huge disruption and will generate massive shockwaves throughout the UK's supply chain, but this dispute is entirely of the company's own making," said Bobby Morton, the Unite union's national officer for docks. LONDON: More than 1,900 workers...
UP’s 64 districts stare at drought-like conditions
According to Indian Meteorological Department (IMD) data, only 11 of the 75 UP districts have received normal rainfall till August 19 The situation is particularly grim in East UP, where the rainfall is 50 per cent less than the LPA Lucknow: Sixty-four districts in...
Maha: Siblings who lost parents in road accident in 2014 get Rs 64 lakh compensation
At the Lok Adalat, the insurance company, Chola Mandalam General Insurance Co and the claimants reached a settlement for Rs 51,00,000 for the death of the siblings' father, Rs 8,50,000 for the death of their mother and Rs 4,50,000 for the injuries suffered by Mayuri A...
Assam Flood: Govt to start rebuilding infrastructure from September
"We will disburse an amount of Rs 119.10 crores as flood rehabilitation fund through direct benefit transfer to those affected. Till now, 180 people across 34 districts have lost their lives due to floods and 19 people have died in landslides," he added "Nearly 80 per...
Earthquake of 5.2 magnitude hits Lucknow
"Earthquake of magnitude:5.2 occurred on 20-08-2022, 01:12:47 IST, Lat: 28.07 and Long: 81.25, Depth: 82 Km, Location: 139 km NNE of Lucknow, Uttar Pradesh," tweeted the National Center for Seismology Lucnow: An earthquake of magnitude 5.2 on the Richter scale hit the...
Insured assets worth Rs 150 crore affected in fire at Neemrana unit: Havells
There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at...
Govt holds interviews for appointing IRDAI’s non-life member, private sector professionals lead the race
From the public sector insurers, Madhulika Bhaskar, general manager and acting in charge of New India Assurance(NIA) was the lone candidate to have appeared for the interview. Some of the private sector professionals who had appeared for the interview today are-TA...
PSU general insurers plan major organisational revamping
The new structure will follow-Operating Offices/Claims Hubs/Regional and Head Offices and scraped the older four tier structure - Branch/Divisional/Regional/Head Offices. And, over a period of time, the regional offices may also vanish Chennai: The four Central...
Munich Re retains its top position, Asian reinsurers lose rankings in AM Best’s 2022 global list
All the top three Asian reinsurers, China Re, Korean Re and GIC Re, have lost their global rankings in 2022. Korean Re, which have been in the 10th place in 2020, fell off to 13th this year owing to currency position. Despite premium growth of around 7 per cent, China...
Climate risks make Australian home insurance costlier
On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in the rest of the country, an Actuaries Institute report released on Wednesday showed. Australia’s mounting extreme weather...