FSIB has shortlisted a few of GMs who were promoted in FY2022-23...
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EV sales jumps 49% to 1.52 million units in 2023: Fada
The EV industry had recorded a total sales of 10,25,063 units in...
Record thunderstorm losses and deadly earthquakes in 2023, says Munich Re
Thomas Blunck, member of the Board of Management, Munich Re...
British entertainment, left in dark, seekss government insurance help
“You’re not going to get a sponsor, full-house ticket sales, finance, TV licensing or big stars unless they are guaranteed,” said James Davies, head of contingency and entertainment at insurance broker EC3.
Wildfires rage in California, stoked by extreme heat in U.S. West
The blaze, growing under “extreme weather conditions,” had devoured nearly 79,000 acres (32,000 hectares) of land, while a cause remained under investigation, the California Department of Forestry and Fire Protection (CalFire) said in a statement.
Etihad to provide Covid-19 insurance to passengers,cover medical and quarantine costs
Airlines around the world are trying to find ways to stimulate demand that has been shattered by the pandemic and expected to take years to recover.Medical costs of up to 150,000 euros ($177,000) and quarantine costs of up to 100 euro a day for 14 days will be covered by Etihad for its passengers who contract the disease within 31 days of first travel.
Munich Re expects Beirut losses of €100 million; sees slowdown in COVID-19 losses
Munich Re said it expects a similar volume of losses from damage caused by hurricanes Hanna, Isaias and Laura in July and August, according to the statement. By contrast, the California wildfire season isn’t seen having a material impact on the company.
Swiss Re sees positive outlook for renewals, further market hardening expected
Overall, Swiss Re expects the non-life insurance market to continue to grow, driven primarily by exposure growth. Swiss Re Institute forecasts a global growth rate of 3.3% in real terms for 2021. Other factors driving demand are the awareness, triggered by COVID-19, of the danger of being uninsured and the increasing frequency of weather-related events.
Swiss Re is making use of advanced technology to lead the way in underwriting. This includes enriching client exposure information with geospatial data to improve both the accuracy and speed of risk and loss assessments. In contracts, natural language processing complements human contract reviews, which helps to flag favourable vs potentially problematic clauses and generate new wording insights
GIC Re incurs losses of Rs 557 cr in Q1 FY2020-21, sees higher underwriting losses and lower investment income
Global scenario for insurance industry for the FY 2020-21 has shown weak trends due to COVID-19 situation. GIC Re although has maintained its prominent position in Indian insurance sector, there has been reduction in business for the Q1 2020-21 partially due to strategic reduction of risk acceptance and partially due to reduction of overall direct premium in India, said the corporation..
GIC Re however expects to see rebound in business during the rest of the year. GIC Re’s gross premium for foreign business has shown a growth for the 1st Quarter 2020-21, added the corporation…
India records highest Coronavirus deaths in more than a month
According to the Indian Council of Medical Research, the number of tests conducted for detection of COVID-19 in India has reached 5,06,50,128 with 10,98,621 samples being tested on Monday.
India scaling up production of active pharmaceutical ingredients: Kant
Professor K Vijay Raghavan, Principal Scientific Advisor to the Government of India, said personalised medicines are the future in healthcare. Personalised medicine was till recently seen as a “fancy way of having individual-oriented medication” but today in India — due to the dramatic scaling up of telemedicine and a variety of tele-consulting ways — one is going to see personalised medicine at the grassroot-level in a population of more than a billion.
Delhi Metro resumes services with strict safety measures after 169-day COVID hiatus
Wearing of masks inside train coaches and station premises is mandatory, and those found violating the guidelines would be fined by authorities.
“Pandemics,climate change,cyber top the current risk chart”:Munich Re
The coronavirus pandemic needs to be a lesson to us all: We must take action more rapidly and vigorously to ensure that we are not as unprepared as we were with COVID-19 for risks such as cyber attacks or climate change. It is possible to better safeguard against the financial consequences of such risks for the benefit of humanity. It needs to be clear that systemic risks like pandemics also require systemic countermeasures – for instance, the creation of state-backed risk pools to make uninsurable risks bearable,said Torsten Jeworrek,Member of the Board of Munich Re.