Many of the capital's 20 million residents complained of irritation...
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Australian companies, directors face new liability for nature-based risks
Directors could be held personally liable for breaching their “duty...
Q3 InsurTech investment surpasses USD1 billion on P&C surge
With wealthy backers writing enormous checks, InsurTechs could...
Lloyd’s gears up to tackle COVID-19 crisis,returns to profitability after 3 yrs
Bruce Carnegie-Brown, Lloyd’s Chairman, said““The beginning of 2020 has proved exceptionally difficult as COVID-19 spreads rapidly around the world with devastating consequences for families, communities and the global economy. Now more than ever, our customers need us to be ready to support them through these challenging times. By focusing on performance management, modernising the market and creating a market culture that will attract the best and brightest talent, we are making the market more resilient, more successful and better placed to meet our customers’ needs.”
Willis Towers Watson develops new feature for tracking pandemic cases against P&C clients’ global assets
“Asia is at a more advanced phase of the COVID-19 pandemic. After months of managing the outbreak and impact of the coronavirus here, there are encouraging indications that some countries in the region are controlling the spread of the virus, whilst others are showing signs that they are commencing the recovery process. This presents an opportunity for organisations to track the receding virus in these geographies and commence planning for the resumption of business operations as soon as it is practical. The new COVID-19 feature in the tool will be beneficial in assisting our clients and facilitate this process,” added Vince Mossfield, Liability Practice Head, Risk & Analytics Asia, Willis Towers Watson.
Ageas is first UK insurer to use AI to create end-to-end car damage assessments and estimates
Adrien Cohen, co-founder at Tractable, said: “Ageas using Tractable’s AI to generate end-to-end estimates is a breakthrough for the insurance sector worldwide. By harnessing AI at the beginning of the claims process to assess damage and generate estimates, we accelerate every part of it, creating efficiencies for the insurer and greater clarity for the policy holder. With this partnership with Ageas, computer vision is today making a positive difference for people in the real world, by helping them recover from accidents faster.
GIC Re’s Lloyd’s Syndicate breaks even in the first full year of ops,total prm at £64.57mn in 2019
Set up in April 2018, the “GIC 1947’’ Syndicate had mobilised a total premium of £64.57 million in 2019. The Syndicate had managed a combined ratio of 97.95 per cent during the year as against a combined ratio of 102.1 per cent reported by the Lloyd’s of London. in 2019,
Coronavirus Pandemic:Tokyo Olympics postponed until 2021
Japan’s Olympics committee said the games were now untenable this year after Japanese prime minister Shinzo Abe asked the International Olympic Committee (IOC) on Monday to postpone them due to measures taken to combat COVID-19.
Coronavirus Pandemic:India’s total number of cases rise to 562, dealth toll at 11
New Delhi: Even as Prime minister Narendra Modi imposed a nationwide a 21-day lockdown in an attempt to stall the spread of coronavirus, the country's total number of cases rose to 562 with 11 deaths, on Wednesday. Tamil Nadu reported its...
Non-life insurance premium set to exceed Rs2 lakh crore in 2019-20
Seven standalone health insurers in the private sector reported a 21.31 per cent jump in their total premium income at Rs 12,602.31 crore in the period as against Rs 9,633.21 crore during the year-ago period.
MP, Raj yet to release Rs 4,213 cr share of premium for farmers under crop insurance
“The states which have not given premium for crop insurance include Madhya Pradesh which owes Rs 2,731 crore and Rajasthan which owes Rs 1,482 crore,” Choudhary said.
The other states with pending premiums include Mahrarashtra, Telangana, Karnataka and West Bengal.
Star Health launches coronavirus cover without travel history exclusions
The Star Novel Coronavirus policy is available under two sum insured options of Rs. 21,000 and Rs. 42,000 at premiums of Rs. 459 plus GST and Rs. 918 plus GST respectively. Anyone up to the age of 65 years can purchase the policy online at www.starhealth.in or through the company’s vast network of insurance agents, and without having to undergo any pre-medical screening.
Swiss Re, Zurich insurance in talks with Swiss regulator about Coronavirus Impact
Insurers — as well as the re-insurers who take up their losses — are assessing the cost of disruptions related to the virus – which has claimed the lives of more than 10,000 and put swathes of the U.S. and Europe on lockdown. The industry has worked to reduce its exposure to pandemics since the 2003 outbreak of SARS in Asia. Over recent years, that’s included tightening their policies by inserting communicable-disease exclusions in contracts.