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Shifting Gears: Cautious mid-term outlook for global motor insurance as challenges persist, says Swiss Re
Swiss Re's Chief Underwriting Officer Casualty Laure Forgeron said:...
3 more Russian insurers seek India’s nod to provide cover for oil tankers
The move comes as growing scrutiny of Russia's oil supply chain by...
U.S. crop insurers post record-high premium growth on rising commodity prices and innovation
Revenue policies make up the bulk of the premium for the MPCI program, according to the report, so the loss ratio for revenue products has the most significant impact on the overall results of the program OLDWICK, N.J: Premiums in the US multi-peril crop insurance...
Floods now Australia’s second costliest weather event, insurers pay $2 billion in claims
The latest figures reveal insured losses have increased six per cent from last month to a record-breaking $5.134 billion The average claim is $22,000, with personal claims averaging $17,000 and commercial claims averaging $71,000 New data, released by the Insurance...
China announces military exercise opposite Taiwan
The ruling Communist Party’s military wing, the People’s Liberation Army, was conducting “live-fire exercises” near the Pingtan islands off Fujian province from 8 a.m. to 9 p.m., the official Xinhua News Agency said. The Maritime Safety Administration warned ships to...
Wage Revision: Talks between GIPSA & PSU general insurance Unions to resume on Aug 4
In a letter to Suchita Gupta, chairperson, GIPSA, on Tuesday, unions had pointed out,“Failure of the DFS and our managements to address the genuine demands of the workforce have created a lot of distrust which needs to be rebuilt. You must have noticed the anguish of...
Global re/insurance industry’s Blockchain platform B3i files for insolvency
“The directors, following consultation with the shareholders, have collectively concluded that there was not sufficient support to continue with the venture at this stage,” said an announcement on the company’s website B3i is supported by over 21 of the largest...
Lloyd’s insurer Ascot and Marsh launch marine cargo and war insurance for grain moving from Ukrainian Black Sea ports
Bruce Carnegie-Brown,chairman, Lloyd's The Lloyd’s of London facility will provide up to $50 million of cover in marine cargo and war insurance, Lloyd’s, Ascot and Marsh said in a statement Premiums to go into the broader Black Sea area have risen sharply, to as much...
Children at risk of new ‘unexplained acute hepatitis’ outbreak – WHO
“Every 30 seconds, someone dies from hepatitis-related diseases, including liver failure, cirrhosis and cancer,” said the WHO chief Moreover, some 80 per cent of people living with the disease are unable to access or afford care UN: The world is currently facing a new...
Asia-Pacific accounts for $ 22bn CAT losses in H122, Insured losses at $ 8bn:Munich Re
Floods, earthquakes and storms caused overall global losses of some US$ 65bn compared with US$ 105bn in the loss-heavy previous year. At around US$ 34bn, insured losses were roughly in line with previous years Globally, some 4,300 people lost their lives in natural...
Govt launches 11th agricultural census 2021-22; to use smartphones, tablets for data collection
"This is the time to make full use of technology in this computation. He said that Agriculture Census should be thought of in a broader perspective. Agricultural computations can also contribute to the mapping of crops so that the country gets its benefits," he said...
India’s SpiceJet says airplane aborted Mumbai takeoff due to caution alert
The plane was "almost at full speed" on the runway when it was suddenly stopped and the pilot aborted the takeoff, announcing later it was a technical problem, Vishal Vikram, one of the passengers on board, told Reuters New Delhi: A SpiceJet airplane was forced to...