Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says:...
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Italy makes it mandatory for companies to buy climate risk covers
Most Italian businesses — especially small and mid-sized ones —...
6.39 crore people in rural India trained in digital literacy: Centre
States like Bihar, Uttar Pradesh, and Maharashtra led with the...
Sitharaman announces clearance to 3 key projects worth Rs 500 crore for IFSCA
Union Finance Minister Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman underlined that the central government's commitment to make GIFT City a world-class fintech hub as stated in the Union Budget 2021-22 GIFT-IFSC is especially targeted towards companies...
Insurers run from ransomware cover as losses mounT
"Insurers are changing their appetites, limits, coverage and pricing," Caspar Stops, head of cyber at insurance firm Optio, said. "Limits have halved – where people were offering 10 million pounds ($13.50 million), nearly everyone has reduced to five." Lloyd's of...
Maharashtra govt files FIR against Reliance Gen for non-payment of PMFBY claims to farmers
The FIR said: "In the kharif 2020 season, 7,00,129 farmers had paid a premium of Rs 277.65 crore to the company. Of these, 1,61,390 farmers' claims amounting to Rs 107.94 crore were approved by the company. Of these (approved claims), the company paid Rs 52.84 crore...
Majority of insurance buyers prefer physical copies of policy document: Survey
Most companies still ask for the original paper document while processing the claim. The insurance regulator must consider restoring section 4 and mandating issuing physical copies of the policy document at the earliest in the interest of buyers, it said. As per...
Swiss Re PARTNERS Baidu for risk expertise and insurance innovation in autonomous driving
Andrea Keller, Head of Automotive & Mobility Solutions at Swiss Re, said: “Together with our partner Baidu, we analyse how automated cars perceive their surroundings and how they process that information and respond to it. Our goal is to understand how such...
Govt has brought more farmers under Fasal Bima Yojana: PM Modi
Prime Minister Narendra Modi Announcing the repeal of three controversial fam laws, Prime Minister Narendra Modi said his government strengthened Fasal Bima Yojana and brought more farmers under it Small farmers brought under insurance, direct benefit transfer among...
Zurich Insurance stops underwriting new greenfield oil exploration projects
The pledges come after banks, insurers and investors with $130 trillion at their disposal vowed at the U.N.’s COP26 climate conference in Scotland this month to put combating climate change at the center of their work. Zurich Insurance Group will no longer underwrite...
Global reinsurers remain bullish on Asian markets
With Asia leading the charge, the future of the global (re)insurance industry to be robust, driven by a rapidly changing risk landscape that includes socioeconomic and behavioural changes on top of climate change Singapore: The global reinsurance industry has remained...
SC asks general insurers to develop an app for expediting MACT claim payments
If the GI Council and other insurance companies fail to develop the app within two months, the Central government will be called upon to do so,said the SC New Delhi: In a significant development, the Supreme Court has issued a slew of orders in bid to...
Global marine insurance premiums rise 6.1% to reach $30 billion in 2020
IUMI Stats contains analysis from its major claims database which now comprises 9000 claims records amounting to $14Bn of major losses. Global marine insurance premiums for 2020 increased by 6.1% from 2019 to reach $30 billion, demonstrating real global market...