The company had managed to bring down its combined ratio to 103.90...
Category:
Non-Life
Latest
Govt wants adoption of Property/Parametric covers to mitigate financial losses due to natural catastrophes
Vivek Joshi, Secretary, Department of Financial Services (DFS), for...
Lloyd’s approves Oka syndicate-in-a-box 1922, to focus on solution to protect against buyer-side carbon credit risks
The volume of carbon credit purchases has quadrupled over the past...
European insurers balk at EU raising capital requirements due to Cyber, Climate Risks
Valdis Dombrovskis, vice president of the European Commission and responsible for financial services, said the 11-trillion-euro ($12.2 trillion) European insurance sector faced growing cyber and climate risks.
Tata AIG collaborates with Drone Federation of India for Drone Insurance
“With the government taking active steps to support drone manufacturing and drone operations in India, we will soon see proactive usage of drones in activities like mining, construction, surveillance, transport, fire-fighting, law enforcement, agricultural and topographical data acquisition, insurance assessments, media and entertainment,” said Smit Shah, Director – Partnerships, DFI.
India among top 30 countries at ‘high risk’ from coronavirus spread: Study
The most “at risk” countries or regions worldwide are Thailand (1), Japan (2), and Hong Kong (3). The US is 6th on the list, Australia 10th, the UK 17th and India 23rd, the researchers said in the study released on Tuesday.
Digitalisation:Transforming The Insurance Industry
“As a result of digitalisation, insurers now have direct connection to their customers“, says Jeffrey Bohn, Chief Research & Innovation Officer at Swiss Re Institute. “With the availability of granular data, insurers can better segment customers enabling them to develop new tailored products and services, and refine existing ones in real time. This benefits customers and insurers alike.“
Coronavirus outbreak: IndiGo, Air India suspend flights between India and China
In India, many people are under observation in hospitals for suspected coronavirus infection including in Maharashtra, Goa, Odisha and the national capital. People returning to the country after visiting China are being regularly screened for the deadly virus at airports across the country.
Many global firms face high Coronavirus costs due to insurance exclusions
Companies buy business interruption policies with their property insurance to cover loss of revenue if they are forced to close temporarily, but those policies are also likely to exclude communicable diseases, an underwriter in London and insurance executives said.
IRDAI issues guidelines on group health insurance policies of merged PSBs
Upon merger of these PSBs, the underlying group health Insurance policies of the customers of the merged banks will be continued to be serviced by the respective insurance companies which issued the policies till the end of policy period. The insurance companies will make suitable arrangements with the acquiring banks to this effect.
Budget 2020: SIAM seeks incentive-based scrappage policy, GST rate cu
The Indian auto industry has been going through a prolonged slump, recording its worst-ever sales decline in two decades in 2019, with an unprecedented slowdown hampering vehicle offtake across segments.
Indian entities facing 3 times more cyberattack than global average: Check Point
Indian organisations were most adversely impacted by XMRig malware, which uses computer resources to mine cryto currencies.
Budget 2020:Govt may not provide any more tax incentives for the insurance industry
The official representative bodies of the domestic insurance industry like General Insurance Council and Life Insurnace Council in course of the their routine pre-Budget discussions with the tax authorities, have been told not to demand any more tax incentives for the industry as the scopes for such incentives currently are extremely limited because of poor mobilisations of the tax proceeds during year.