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Germany to Send Air Defenses for Kyiv to Guard Grain Routes
While Kyiv has unilaterally created a temporary corridor for ships...
Aviva shares jump 8% as Times cites takeover talk
Names of potential bidders mentioned include Germany’s Allianz SE,...
Postmen, grameen dak sevaks may soon start selling insurance policies
“These postmen and grameen dak sevaks will be operating largely in un-banked and under-banked geographical areas and can provide the last mile reach to sell insurance products in remote and rural areas,” Irdai said.
Insurers need profound transformation and the right talent, reveals EY Insurance Outlook 2020
Insurers agree that talent is the “secret sauce” to maximize returns on investments in technology, digital transformation and new business models. But with the industry struggling to attract the right talent, the report finds that insurers need to either reposition themselves as technology firms or proactively communicate on why the industry matters, what value it brings to society and the overall appeal of an insurance career.
California puts one-year halt on insurers dropping customers in wildfire-prone areas
The moratorium, which ends Dec. 5, 2020, is meant to draw insurers and state legislators to the negotiating table to find a solution to the state’s wildfire insurance dilemma.
Saudi Aramco pursues war cover after attacks – sources
Aramco, the world’s largest oil company, has been looking for cover from insurers including those based at Lloyd’s of London and elsewhere in the London market.Available insurance options range from cover against a terror attack or sabotage through to full coverage, which includes war or civil war, along with compensation for the cost of business
Over two-thirds of firms have suffered a political risk loss: Willis Towers Watson survey
Most respondents (71%) stated that the emphasis on political risk management at their company had increased since 2018, and nearly 40% felt that they were facing more pressure from investors regarding political risk management. The survey found that recent developments such as the China-US rivalry and the sanctions that have arisen as a result have made political risk more tangible.
RBI keeps rates on hold despite economy fears
The six-member monetary policy committee (MPC) unanimously voted to hold the key repo rate at 5.15% while the reverse repo rate was also held at 4.90%.The RBI reiterated that it would maintain an accommodative stance as long as it is necessary to revive economic growth which slowed to 4.5% in the September quarter from 7% a year ago, to stand at its lowest in more than six years.
Kashmir economy suffers losses of Rs 15,000 cr since August: Trade body
Hussain claimed that the hotel and restaurant industry has seen more than 30,000 people losing their jobs. The e-commerce sector, which includes courier services for purchases made online, has seen 10,000 people losing their jobs, said Kashmir Chamber of Commerce and Industry (KCCI) president Sheikh Ashiq Hussain
Bermuda’s Catalina Holdings acquires Asia Capital Re
Consequently, ACR will cease writing business with immediate effect and all existing policies in force will be serviced until expiry. ACR said it will continue to honour all valid reinsurance quotes, as well as liabilities from outstanding commitments.Catalina said that it intends to use ACR and Singapore as a hub to build a strong Asian run-off platform.
Lloyd’s launches new space risk product and new analysis of the space sector
According to a new Lloyd’s report, NewSpace: Bringing the new frontier closer to home, published today, the global space market could increase in value from $300bn today to $1tr by 2040, driven by NewSpace companies entering the sector.
Cabinet clears personal data protection bill
The Bill is likely to contain broad guidelines on collection, storage and processing of personal data, consent of individuals, penalties and compensation, code of conduct and an enforcement model.