Following a frenzy of deals in the early days of the COVID-19...
Category:
Non-Life
Latest
Over 1,100 people killed till October 31 this year in road accidents: Delhi Police data
The officer further said that to tackle road accidents, Delhi...
ACKO launches cover for cricket fans
General insurer ACKO has launched a product, `100 Over Insurance'...
Aon sets up MGA with world’s largest capacity for Intellectual Property Liability Risks
It is the latest offering from Aon to meet the changing needs of clients’ intellectual property (IP) exposures, especially in this distressed economic environment.Target markets include businesses of all sizes from SMEs to multi-national corporations in North America, Europe, Australia, New Zealand and parts of Asia
-Primary limit of indemnity of up to $100 million (€100 million)
Warehousing demand in 8 major cities drops 29% in Jan-Mar, new supply down 14%: Report
Property consultant JLL India expects limited leasing activities during the second quarter of 2020 calendar year. New supply will also get deferred because of the lockdown to control the spread of COVID-19.
However, it said that “there can be gradual revival in the demand post lockdown as leases and active requests for proposals (RFPs) that were in various stages of closure may be executed.”
NDMA issues guidelines for restarting industrial activities to avoid Vizag-type tragedy
In a communication to all states and union territories, the NDMA said due to several weeks of lockdown and the closure of industrial units, it is possible that some of the operators might not have followed the established standard operating procedures.To minimise the risk, it is important that employees who work on specific equipment are sensitised and made aware of the need to identify abnormalities like strange sounds or smell, exposed wires, vibrations, leaks, smoke, abnormal wobbling, irregular grinding or other potentially hazardous signs which indicate the need for immediate maintenance or if required shutdown, it said.
SBI Gen net profit rises by 23 % to Rs 412 cr in FY2019-20,combined ratio at 98 %
Pushan Mahapatra, MD and CEO said, “SBI General has maintained a steady growth in FY19- 20, we’ve managed a growth of 45 per cent as compared to an industry growth of around 12% for FY19-20. Despite being one of the younger players in the sector, we have seen impressive progress since commencing operations. Growth has been evident across all lines of businesses. New tie-ups and improved business from existing tie-ups in motor, higher branch activations/better penetrations across banca network, robust growth in Corporate, SME and Crop business has also contributed to the growth.”
New chemical accident rules soon to prevent Vizag like accidents
A draft Cabinet note has been circulated and regulation would be in place after inter-ministerial discussion,
Munich Re expects Coronavirus-Related claims in excess of $1 Billion during 2020
Finance chief Christoph Jurecka said, however, he would be “very surprised” if the company failed to post a profit in 2020.“Uncertainty is extremely high,” he told journalists by telephone. “No one knows how this pandemic will develop.”
New India Assurance & 3 other insurers gear up to pay claims to LG Polymers gas hit victims
All the the four general insurers have provided an annual cover- a Rs five crore in case of a single incident and Rs 15 crore in case of multiple incidents in a year- to the plant under the Public Liability Insurance Act 1991(PLI Act1991),that provides for damages to victims of an accident which occurs as a result of handling any hazardous substance. It covers costs for personal injuries, loss or damage to property, and death
BBB to interview 5 sr GMs on May 11 to select CMD of Orientel Insurance
The general mangers who have been shortlisted by the ministry of finance(MoF)are-SN Rajeswari,New India Assurance(NIA) Dinesh Waghela(OIC), Sobha Reddy, National Insurance Company(NIC),Deepak Godbole,GIC Re, Madhulika Bhaskar, GIC Re.
Gas leak at LG Polymers plant in Andhra Pradesh kills six, over 120 hospitalised
The commissioner of the Visakhapatnam city corporation said styrene leaked from the plant during the early hours of the morning, when families in the surrounding villages were asleep.
“Hundreds of people have inhaled it and either fell unconscious or having breathing issues,” Srijana Gummalla, Commissioner, Greater Visakhapatnam Municipal Corporation said on Twitter.
RMS unveils high definition models for European severe convective storm
“The multi-peril stochastic set includes over 7.5 million events, covering 17 countries, based on 50,000 years of simulations, so that we appropriately capture the spatial and temporal scale of convective storm risk in the European modelling domain,” said Mohsen Rahnama, chief risk modeling officer, RMS, said.
Recent events have shown the potential cost of this peril for the re/insurance industry, said RMS, noting that from 2013 to 2019, losses from major and attritional severe convective storms in Europe exceeded €12 billion (US$13 billion),said RMS in a statement.