SIAM Director General Rajesh Menon said the passenger vehicle...
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Claims ratio of non-life insurers dips to 82.52% in FY24: Irdai report
The incurred claims ratio for private sector general insurers,...
India witnessing 30 mn new demat accounts annually, 1 in 4 now a women investor
“This year, the number of new demat accounts may cross the 40...
Over 90 pc Indian business leaders feel pandemic pressed need to improve crisis mgmt capability: Study
Puneet Garkhel, Partner and Leader, Forensics Services, PwC India, said that operations and supply chain, finance and liquidity, and workforce are the three areas in which Indian businesses experienced ”significant” or ”critical” impact owing to the pandemic. ”Indian businesses that have survived and even thrived, through this period have several significant foundational strengths in common with the most critical being a dedicated crisis response team with a fit-for-purpose response strategy, aligned to their organisation’s goals and purpose,” said Garkhel.
Govt launches Rs 7,270 cr scheme for road safety in 14 states
An Integrated Road Accident Database (IRAD) will be rolled out in all states by 2022-23 and applied for identifying and rectifying all black spots on state highways and major district roads.
Road safety audit will be made mandatory on state highways and urban roads by the end of the scheme period.
Munich Re appoints Michaela Hannemann as new Regional Head of Casualty Treaty Underwriting for Japan, India, Korea & SE Asia
“In addition to her strong casualty treaty background and her multi-market experience across emerging and mature regions, I am confident that Michaela’s passion for client focus will be a driving force in our ongoing commitment to maintaining strong and sustainable long term relationships with clients and industry partners in the region ,” said Roland Eckl, Munich Re’s Chief Executive Asia Pacific (Japan, Korea, India and Southeast Asia).
Nairobi to Ningbo: See the supply shocks spanning globe
Container rates have shot up by as much as fivefold because of the disruptions that the pandemic is causing at ports around the world. Space on containers has been hard to secure and at one point, the company had a shipment of finished goods delayed for six weeks trying to leave India, said Adrienne Sodar, the company’s joint managing director.
Global Covid-19 caseload tops 231.1 mn, deaths surge to more than 4.73 mn
The US continues to be the worst-hit country with the world’s highest number of cases and deaths at 42,852,711 and 687,078, respectively, according to the CSSE.
In terms of infections, India follows in the second place with 33,594,803 cases.
European insurers to boost ESG investments on Solvency II Reform
The Commission estimates that the risk-margin reduction could release up to EUR90 billion of capital and that the lower charges for long-term equities could release about EUR10 billion
No plans to bring standard products for cyber liability insurance policy as of now: Member Irdai
Even as cyber risk insurance products are available in the market, both for the commercial and for individuals, she said insurers can now identify the possible risks and the recommendations that can be implemented.
India reports 31,382 new COVID-19 cases
A total of 72,20,642 vaccine doses were administered in the last 24 hours, taking the total vaccination in the country to 84,15,18,026
Global reinsurers in a quandry on incorporating Climate Change Risk
“If re/insurers are not properly accounting for the impact of climate change in their catastrophe modeling and pricing today, it could lead to significant unexpected volatility in their earnings and capital, resulting in pricing corrections that could have implications for the cost of reinsurance purchased by primary writers, thereby hitting their profitability and risk profiles as well,” added the report.
UK’s £800 million Reinsurance Scheme officially opens, to help providing covers to festivals, conferences and live events
The government has partnered with Lloyd’s Market Association to deliver the scheme as part of the Plan for Jobs. The scheme will see the government act as a ‘reinsurer’ – stepping in with a guarantee to make sure insurers can offer the products events companies need. Insurers Munich Re, Beazley, Arch, Dale, and Ark are carriers of the scheme with more firms coming on board in the weeks to come.