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82% of Singaporean business leaders fear elections across the globe impacting international trade: Beazley report
Jack Suk, Underwriter, Political Risks & Trade Credit, Asia...
GIPSA notifies postings of 16 new GMs
The GIPSA, the coordinating body for the six PSU general insurance...
Investors vie for windfall from rejected covid insurance claims
Distressed-investing funds and litigation-finance boutiques are likely to be spoiled for choice after a landmark U.K. court ruling last month rejected pleas from insurers looking to dodge pandemic payouts. They’re looking to finance or buy denied Covid-19 insurance claims for policyholders without the means or stomach for taking their insurers to court.
“This is going to be huge,” said Steve Cooklin, chief executive officer of London-based litigation funder Manolete Partners Plc, whose biggest shareholder is veteran distressed investor Jon Moulton.
German cabinet approves legislation to ban glyphosate from 2024
Glyphosate, first developed by Bayer’s Monsanto under the Roundup brand, has generated intense global debate over its safety since a World Health Organization agency concluded in 2015 that it probably causes cancer.
While regulators worldwide have determined glyphosate to be safe, Bayer agreed in June to settle nearly 100,000 U.S. lawsuits for $10.9 billion, denying claims that Roundup caused cancer.
Florida consumers ‘flabbergasted’ as property insurers push for double-digit rate hikes
Florida’s domestic property insurers reported a more than $1 billion underwriting loss for the first three quarters of 2020 and almost $500 million in negative net income, according to the Florida Office of Insurance Regulation.
Florida’s domestic property insurers reported a more than $1 billion underwriting loss for the first three quarters of 2020 and almost $500 million in negative net income, according to the Florida Office of Insurance Regulation.
Florida insurers requested 105 rate increases during the first ten months of 2020, Altmaier said. More than half of the increases that regulators approved were greater than 10%.
Florida insurers requested 105 rate increases during the first ten months of 2020, Altmaier said. More than half of the increases that regulators approved were greater than 10%.
Florida insurers requested 105 rate increases during the first ten months of 2020, Altmaier said. More than half of the increases that regulators approved were greater than 10%.
The rate increases in Florida, the third-largest property insurance market among U.S. states, are the highest in memory, according to some insurance agents and residents. One danger, they say, is that the new rates could make owning a home in Florida unaffordable.
Florida’s property insurance market, which collected $56.6 billion in premiums during 2019, is unique and covers complex risks including devastating hurricanes and the impact of climate change.
Biden administration asks U.S. Supreme Court to uphold Obamacare law
Biden, who was Obama’s vice president when the law was enacted, has promised to protect and build on Obamacare, which has enabled millions of Americans to obtain health insurance by expanding public healthcare programs and creating marketplaces for private insurance. Republicans have called it a government overreach.
New India Assurance Q3 net profit rises 5.9% to Rs 524 cr, increases its market share to 14.64%
`It is heartening to note that the company has grown faster than the industry, increased its market share. improved its operating performance and was able to offset many adverse impacts to deliver a healthy growth in profits during the quarter, said Atul Sahay, CMD, NIA.
No new deaths due to COVID reported in 17 states, UTs in India: Health ministry
Eight states account for 60 per cent (59.70 per cent) of the total beneficiaries vaccinated in India. These eight states have vaccinated over 4,00,000 beneficiaries each. Uttar Pradesh alone accounts for 10.8 per cent (8,58,602 beneficiaries) of the total beneficiaries in India.
Irish central bank: We’ll act against insurers who don’t pay COVID-19 claims
Ireland’s High Court ruled on Feb. 5 that four publicans insured by FBD were entitled to be indemnified for losses under lockdown-linked claims, in a case that could have implications for over 1,000 similar contracts for FBD alone Gabriel Makhlouf said a number of insurers had already accepted and begun settling business-interruption claims as a before the court judgment in Dublin, as well as one in London.
Over 77.66 lakh healthcare and frontline workers vaccinated against COVID-19: Health Ministry
Twelve states and Union Territories – Bihar, Tripura, Madhya Pradesh, Uttarakhand, Odisha, Himachal Pradesh, Lakshadweep, Kerala, Mizoram, Chhattisgarh, Sikkim and Rajasthan have vaccinated over 70 per cent of the registered HCWs, he said.
SC upheld AYUSH Ministry’s advisory, allowed homeopathy as add on to Covid-19 care: Rijiju
The minister said while homoeopathy treatment is not to be given in standalone mode for Covid-19 treatment, the ministry through an advisory in March last year and the ‘Guidelines for AYUSH practitioners for Covid-19’ allowed AYUSH interventions, including homoeopathy, as add on to standard care.
GIC Re records a net profit of Rs 987 cr in Q3 FY21, cautiously grows its prm to Rs 11,668 cr
The third largest Asian reinsurer had improved its combine ratio to 108.5 per cent during the reporting quarter as compared to 130.4 per cent in the yaer ago period.
Although Covid-19 influence remains on the insurance industry, severity of the impact is gradually reducing and the same is reflected in the results of the industry. GIC Re’s financials have shown indications of positivity and signals turnaround in the near future,said Devesh Srivastava, CMD, GIC Re.