Flooding alone is estimated to cause 8.5 million deaths by 2050,...
Category:
Non-Life
Latest
Insurers seek to exclude US, UK Ships From Red Sea Coverage
“Underwriters are adding clauses saying no US, UK or Israeli...
ICICI Lombard General Insurance net rises 22.4% to Rs 431 cr in Q3
The insurer's combined ratio, an important profitability metric for...
Even as Covid-19 rages, Indian economy’s animal spirits are stabilising
A strong rebound is still a far way off though as a surge in virus cases continues to disrupt activity and has led many economists to downgrade their growth forecasts for the year.
Steady rise in heavy rainfall events during 3 last years: Harsh Vardhan
Earth Sciences Minister Harsh Vardhan said studies show that the frequency of severe cyclones in the Arabian Sea has increased in recent years.
The data shows that there is a steady increase in the number of heavy rainfall events during the last three years, Vardhan said.
The frequency of cyclones too has seen a rise, he noted.
ONGC douses fire; gas supplies to industries hit
Indian gas transporter GAIL (India) Ltd has cut supplies by about 40% to customers, mainly power and fertiliser companies, after a pipeline rupture led to a fire in an ONGC plant, a company source said.
“Our capacity utilisation fell to 50% in the morning due to gas supply disruption,” a person at the KRIBHCO said.
NTPC has shut its 656 megawatt gas-based power plant at Kawas near Hazira and a 657 megawatt Jhanor-Gandhar plant due to gas supply disruption, a person at the company said.
Gas supplies to customers have temporarily closed due to safety reasons, an ONGC spokesman said.
Govt notifies standards for safety evaluation of hydrogen fuel cell vehicles
This would facilitate the promotion of hydrogen fuel cell-based vehicles in the country, which are energy-efficient and environmentally friendly.said the Ministry of Road Transport and Highways (MoRTH)
Mumbai suburbs get over 280 mm rain in 24 hours: IMD
Heavy showers overnight and early Wednesday morning caused waterlogging at many places in the metropolis, disrupting rail and road traffic.
UK insurers under fire as watchdog proposes ‘radical’ ban on loyalty penalties
“The FCA estimates that its proposals will save consumers 3.7 billion pounds ($4.74 billion) over 10 years,” FCA interim chief executive Christopher Woolard said.
ni-msme and IRM India sign MoU to strengthen risk-readiness of MSME sector
The programme will jointly develop policy roadmap to secure Indian MSME sector against future risks
Hersh Shah, CEO, India Affiliate of Institute of Risk Management, UK, said, “In the coming months, we aim to develop a blueprint that will help India’s 6.33 crore MSMEs apply globally-recognised enterprise risk management frameworks and practices, to navigate successfully through the current crisis, as well as safeguard themselves against future uncertain events beyond just financial risks.
A fifth of countries worldwide at risk from ecosystem collapse as biodiversity declines, reveals pioneering Swiss Re index
39 countries have ecosystems in a fragile state on more than a
third of their land – Malta, Israel, Cyprus, Bahrain and Kazakhstan
have the lowest Biodiversity and Ecosystems Services (BES) ranking
• 55% of global GDP depends on high-functioning BES
• Major economies in Southeast Asia, Europe and the US exposed to
BES decline
Christian Mumenthaler, Swiss Re’s Group Chief Executive Officer, said: “There is a clear need to assess the state of ecosystems so that the global community can minimise further negative impact on economies across the world. This important piece of work provides a data-driven foundation for understanding the economic risks of deteriorating biodiversity and ecosystems. In turn, we can inform governmental decision-making to help improve ecosystem restoration and preservation. We can also support corporations and investors as they fortify themselves against environmental shocks. Armed with this information, we can also ensure the provision of stronger sustainable insurance services.“
Reliance Gen launches Insurance Gift Card under sandbox norms
This ‘Insurance Gift Card’ is like any prepaid card, available with denominations of ₹500 and ₹1000 and can be bought instantly from the reliancegeneral.co.in website. As soon as cutomers buy the ‘Gift Card’ online, he’she will receive the voucher on your email along with instructions to redeem the voucher.
PartnerRe appoints John Mok as CEO Life & Health, Asia Pacific
Commenting on . Mok’s appointment, Marc Archambault, CEO Life & Health and Group Executive Committee member.said, “ We believe in the growth potential of these markets and Asia Pacific is an important part of growth plans for the Life & Health business. . Mok’s appointment underlines our commitment to the region, and to continuing to deliver reinsurance solutions and value added service to our clients in Asia Pacific. I look forward to leveraging John’s experience to continue to build the team, develop profitable business and grow the Life & Health business.”