Nearly 1.4 lakh new Jan Dhan accounts have been opened and more...
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Earlier crop insurance scheme saw cheating as insurers got profits farmers didn’t benefit Minister
"Large-scale irregularities came to light (in the previous scheme)....
ICICI Lombard general insurance net profit rises 29% to Rs 747 crore in Q1FY 26
The insurer's Combined Ratio, a key metric that compares claims and...
Heat-related deaths in India increased by 55% from 2000-2004 to 2017-2021
Improvements in air quality will help to prevent deaths. In 2020, over 330,000 people died in India due to exposure to particulate matter from fossil fuel combustion New Delhi: Warning that health is at the mercy of fossil fuels, from 2000-2004 to 2017-2021...
IRDA tightens rules for Cross Border Reinsurers(CBRs) on transacting Indian business, reduces FRB’s capital requirements to Rs 50 cr from Rs 100 cr
Capital requirements of foreign reinsurance branches(FRBs) in India reduced to Rs 50 crore from existing Rs 100 crore Every cedant has to offer best terms obtained, for participation in the following order of preference: Category 1: Indian Reinsurers, FRBs, Lloyd’s...
Australia flags new corporate penalties for privacy breaches
Unknown cyber criminals this week demanded ransom from Australia's largest health insurer, Medibank, after claiming to have stolen 200 gigabytes of customers' data including medical diagnoses and treatments The thieves have reportedly threatened to make public the...
Cyclone Sitrang: IMD issues advisory, suspends offshore activities in north Bay of Bengal
“Due to the cyclonic storm over West Central Bay of Bengal and adjoining East Central Bay of Bengal and its likely intensification into a severe cyclonic storm, fishermen are advised not to venture into the sea till 25th Ocober’2022,” IMD’s statement said. Kolkata: In...
Bank of England fines MS Amlin Underwriting $10.84 million various for lapses
The penalty reflects the seriousness of MSAUL’s failure to meet the expected standards in this case, and should deter similar conduct by other firms,” Bank of England Deputy Governor Sam Woods said in a statement. London: The Bank of England said on Thursday it had...
Munich Re warns on target after $1.6 billion hit from Ian
Ian hit Florida in September and was one of the strongest hurricanes to ever make landfall in the US. It carved a trail of ruin across southern Florida, downing bridges, inundating roads and shattering homes. Insured losses have been estimated at more than $60 billion...
Volkswagen sued by investors in Germany for not disclosing alleged private climate lobbying activities
A group of Swedish public pension funds, Danish AkademikerPension and the Church of England Pensions Board filed the suit at a German court seeking to make VW include an item about their lobbying activities to the agenda of its shareholder meeting. If successful, the...
Bajaj Allianz General Insurance posts PAT at Rs 747 crore
The combined ratio, which measures the performance of the insurance operations, stood at 102 per cent in H1/2022-23 against 100.5 per cent in H1/2021-22. Significant sequential improvement was seen in the September quarter of 2022-23 with the combined ratio moving...
Ukraine insurance costs surpass Iraq war levels, industry sources say
The rates in Ukraine are currently higher than previously experienced in Iraq and Afghanistan…Principally, it's a more active war zone rather than an insurgency situation," said Alexis Fehler, accident and health underwriter at Lloyd's of London-backed insurer...
Cyclone likely to reach WB-Bangladesh coasts by Oct 25, skirt Odisha: IMD
IMD Director General Mrutunjay Mohapatra said the IMD has not so far made any forecast on the possible landfall, intensity and wind speed of the cyclone. The system will pass through Odisha coast at a distance and there was no possibility of making landfall in the...