The Iran-Israel conflict is, in many ways, a stark reminder of the...
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Escalating Hormuz tensions drive up Middle East war risk insurance costs, sources say
War risk insurance premiums for shipments to the Middle East Gulf...
Aon launches Aon Broker Copilot to modernize insurance placement with AI and data at scale
" "The industry is undergoing a fundamental shift. As risk becomes...
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...
UK water supplier hit by ‘Extremely Concerning’ cyber attack, vulnerabilities of critical infra exposed
Cybersecurity experts said the breach was alarming but cautioned that it wasn’t clear how deeply the hackers had penetrated the system and whether there may have been controls in place that could have prevented unauthorized tampering with water supplies A company that...
Govt restores lifetime free health cover for GMDs affected by Delhi HC verdict on BBB
The GIPSA, the coordinating agency for four PSU general insurers and GIC Re, on Tuesday has informed that the department of financial services has agreed to revive the free health cover facilities for GMDs who were affected by the Delhi HC judgment in ``Ravi Vs Union...
Odisha flood situation grim; 2 lakh people affected
Special Relief Commissioner (SRC) P K Jena said that as per preliminary data, two lakh people have been affected due to the flood while around 24,000 hectares of farmland have been hit. Of them, 1.20 lakh people in 237 villages were marooned and over 26,000 people...
Civil aviation sector’s safety, security ‘paramount’: Jyotiraditya Scindia
Union minister Jyotiraditya Scindia. "We make sure that every occurrence is reported, whether it is a very minor issue or any other thing. The safety and security for us as a civil aviation ministry is paramount. It is the primary responsibility of airlines. For both...
Reliance Gen launches its official jingle
Reliance General Insurance, launched its official jingle to celebrate #FreedomToCustomise in insurance on the occasion of the Country’s 75th Independence Day on 15th August. Anand Singhi, chief distribution officer, Reliance General Insurance, said,`` We felt it would...