Madhya Pradesh and Rajasthan were also affected by heavy to very...
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South African Sanlam’s subsidiary Santam plans Asian expansion
We are looking at Asia and the Middle East from a reinsurance...
Agile launches New Zealand operation to support Lloyd’s syndicate
The establishment of a New Zealand entity solidifies Agile’s...
Financial services present large opportunity, says Sachin Bansal
”We think that by bringing a consumer tech thought process into the financial services space, it’ll be something new we can try…it could be a large business opportunity”.
Insurers’ response to COVID-19 pandemic has damaged their reputation, finds GlobalData
Ben Carey-Evans, Insurance Analyst at GlobalData, comments: “The pandemic has undoubtedly been an extremely difficult situation for insurers. Claims in some lines have soared and a lot of lines have become hard to insure. The biggest factor behind the industry’s reputational damage is likely to be the legal battles around business interruption claims throughout 2020.
Reinsurance rate increases continued for most major lines and territories during July 1 renewals:Willis Re
Momentum continued in the catastrophe bond market, which saw around US$6 billion of new issues in the second quarter of 2021, outstripping all new cat bond capacity issued in 2019. Significant investment inflows have narrowed margins and encouraged new cat-bond cedants.
James Kent, Global CEO of Willis Re, said: “The global reinsurance market is moving towards an equilibrium. Reinsurers, backed by resilient investors delivering an increasing capital base, are robust and well positioned to provide the long-term support their clients expect and need. However, we are approaching the top of a cycle which we believe is unlikely to precede a precipitous and damaging decline in rates. Instead, the market is likely to retain its discipline in order to maintain the balance it has achieved over the past couple of years especially with the full picture of losses from COVID-19 and prior year liability lines still to emerge.”
Cyber laws, rules, and guidance must be workable, risk-based, clear, transparent, and consistently applied across companies and jurisdictions:US Insurers
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Insurance policy and underwriting activities should not be misconstrued as cybersecurity risk assessments, which provide the insured with confidence that their security measures are sufficient to avoid or eliminate ransomware attacks.
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Like a customer’s decision on how to manage cyber risk, insurers must also be able to determine their risk appetite through careful underwriting and appropriate coverage offerings.
Delta variant dangerous, continuing to evolve and mutate: WHO chief
“Public health and social measures like strong surveillance, strategic testing, early case detection, isolation and clinical care remain critical,” he said, adding that masking, physical distance, avoiding crowded places and keeping indoor areas well ventilated are the basis for the response.
Govt to unveil national cyber security strategy soon: National Cyber Security Coordinator
”The vision of this strategy is to ensure safe, secure, resilient, vibrant, and trusted cyberspace,”National Cyber Security Coordinator Rajesh Pant said.
Delta variant sweeps Asia, prompting curbs as vaccination remains tepid
The variant, first detected in India in December last year, has spread to about 100 countries and the World Health Organisation warned recently that it could soon become the dominant form of the virus. It is also driving a spike in cases in Japan, casting a pall over this month’s Olympic Games.
People in states with high PM2.5 levels more likely to get COVID-19: Study
Sixteen major cities, including Delhi, Mumbai, Chennai, Bangalore, Kolkata, Pune, Ahmedabad, Varanasi, Lucknow and Surat, reported the highest number of COVID-19 cases, and PM2.5 emissions are also higher in these areas due to fossil fuel-based anthropogenic activities, it said.
PM2.5 refers to fine particles which penetrate deep into the body and fuel inflammation in the lungs and respiratory tract, leading to the risk of having cardiovascular and respiratory problems, including a weak immune system.
Majority of urban unemployed Indians want Job, not cash handout:LSE study says
“Younger individuals, in the bottom half of pre-Covid earnings, experienced higher levels of worklessness,” the authors wrote, based on responses from 4,763 individuals between January and March this year in three lower-income states of Bihar, Jharkhand and Uttar Pradesh.
Why Mukesh Ambani’s gigafactory for hydrogen could be a game-changer
Zero-carbon electricity will be instrumental in decarbonizing, but it can only go so far, and we’re still quite a ways away from there. Power sector emissions flattened out early last decade, and almost certainly peaked for good in 2018.
Greater demand for renewable power will drive that curve down further, which will in turn incentivize its use in any process that can substitute electricity for something that creates greenhouse gas emissions.