Liberty General Insurance has commenced an 'Suraksha ka Vaada, Bima...
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AM Best revises GIC Re’s Credit Rating outlooks to positive from stable, assigns National Scale Rating
Ramaswamy Narayanan, chairman and managing director, GIC Re The...
France, US to propose ban on private finance to coal-fired plants at COP28 – sources
About 73% of electricity consumed in India is produced using coal,...
NY Stock Exchange traders, staff sign liability waivers for reopening
The 100 or so traders, regulatory and operational staff who headed into the building were told to avoid public transportation and were screened for signs of the virus at the door, where they had to sign a liability waiver.
Coronavirus impact on shipping industry: idle vessels face new risks, Allianz warns
“An unplanned lay-up can result in a prolonged recommissioning exercise that can last for months, even requiring docking. Comprehensive plans including risk assessments covering storage and lay-up are crucial for ensuring the safety of vessel during the downtime and its subsequent return to service,” Captain Rahul Khanna, Global Head of Marine Risk Consulting at AGCS.explains
Pek Hui Zhi joins as Asian terrorism underwriter in Markel International
Singapore/London Markel International,specialist insurer has announced the appointment of Hui Zhi Pek as terrorism underwriter for Asia. Pek Hui ZhiPek , who joined the Market International on 4th May, holds more than 12 years of industry experience and...
FERMA calls for EU resilience framework for catastrophic risks
FERMA President Dirk Wegener said: “We now aim to deepen discussions with the EU, the Member States and the insurance sector, and to develop solutions for both short-term crisis management and long-term business resilience. FERMA members have expertise and experience in the field of business interruption that we want to contribute to the future resilience of European business.”
U.S. sanctions advisory raises hurdles for global maritime industry
U.S. guidelines seeking constant location monitoring of ships, and investigations by insurers of gaps in that tracking, may also prove difficult, industry officials said. The advisory notes that weather often interferes with AIS transponders, and ship captains should have the discretion to go dark to avoid pirates or militants on the high seas.
Private jet demand rises as wealthy Russians spend lockdown in West
In March, there were 250 private jet round flights between Moscow and Europe, flight tracking data from 80 planes registered with Russian and European charter firms show, though the data did not specify how many people were on board each.
Flights continued in April, albeit falling to 61 round trips that month despite Russia suspending regular and commercial charter flights to and from Russia with some exceptions and locking down Moscow, the epidemic’s epicentre.
Airbus opens investigation into plane crash in Pakistan
Initial reports have said the Pakistan International Airlines jet crashed after an apparent engine failure. Pakistani aviation authorities said Tuesday they have shared their initial findings with the visiting 11-member team from the European plane maker.
Pandemic forces virtual safety checks for oil tankers
With an estimated 160 million barrels of surplus oil being kept onboard dozens of tankers because on-land storage is full, the situation is pressing.
If restrictions on access to ships stay in place towards the final quarter of the year, tankers may be unable to store oil or sail until repairs can be carried out. This could drive up freight rates for shipping and storage, as fewer vessels will be seaworthy.
Busy Atlantic hurricane season predicted for 2020
HOUSTON: U.S. forecasters expect an above-normal 13-19 named storms during the 2020 Atlantic hurricane season, the National Oceanic and Atmospheric Administration’s (NOAA) Climate Prediction Center said on Thursday.NOAA forecasters estimate three to six...
BBB selects SN Rajeswari as CMD of Oriental Insurance Company
The other general mangers who has appeared for the interview are- Dinesh Waghela(OIC), Sobha Reddy, National Insurance Company(NIC),Deepak Godbole,GIC Re, Madhulika Bhaskar,GIC Re.