After the initial focus on the Pacific, the partnership will seek...
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Offshore wind industry: Economic pressures and tech innovation need to be managed
Around 380GW of offshore capacity is expected to be added across 32...
US home insurance ‘Bubble’ closer to popping as climate risks mount: Report
At the core of the problem is an increase in the severity of...
Regulatory Sandbox a win-win position for regulators and Start-ups:IRDAI
Banarji, urged insuretech firms to use the facility to test new products and services and added that IRDAI will start receiving applications under regulatory sandbox from 15 September to 14 October 2019
IRDAI penalises Bagic and Go Digit for violating its norms
In one of the findings, the IRDAI has said that the number of offices (financial year wise) indicates that the actual number of offices as per the records of Bagic varies with the number of offices as per the records of the IRDAI and public disclosures. There is noticeable increase in the number of offices and staff after MISP guidelines have come into effect.
IRDA forms panel to link motor premium with traffic violations
It is perceived that linking Insurance premium to traffic violations committed could reduce road accidents and change driver behavior said IRDAI.
Anup Rau to head Future Generali India Insurance
Rob Leonardi, Regional Officer for Generali Asia said, “We view India as an important and fast-growing market for our business in Asia. Anup’s vast experience and understanding of retail, combined with his expertise in strategic digital initiatives within the industry, will be a huge asset for Future Generali India.”
Total reinsurance capital at $559 bn in H1 2019, up 8% driven by strong investment markets: Willis Re
The largest component of this figure is the capital of the 36 reinsurance companies tracked in the Willis Reinsurance Index, which was up 11 per cent to USD 440 billion, principally due to falling bond yields and rising equity markets. The strong investment appreciation was a reversal of the trend noted in the year-end 2018 Reinsurance Market Report. Fresh capital backing the Convex start-up also contributed to the H1 2019 capital growth.
Swiss Re and Capsicum Re launch a holistic cyber reinsurance solution
Anthony Cordonnier, Head Cyber Product Management at Swiss Re, said:”Decrypt gives insurance companies a unique understanding of their portfolios’ affirmative and silent exposures, and offers protection against the aggregation of cyber losses across different lines of business.”
Willis Towers Watson launches innovative risk advisory service
John Merkovsky, Head of Risk and Analytics at Willis Towers Watson, added “’Today’s risk manager and CFO have only been able to view risk financing as individual transactions, compartmentalised by line of business. Connected Risk Intelligence is a combination of advanced modeling technology and our own optimisation expertise which will revolutionise the way organisations view risk management.
Delhi Police issues 3,900 challans on first day of newly amended Motor Vehicles Act
Parliament had in July passed the Motor Vehicles (Amendment) Bill, 2019, which seeks to tighten road traffic regulations such as the issuance of driving licence and imposes stricter penalties for violations in an attempt to improve road safety.
Amit Shah assures Rs 2 lakh insurance for J&K panchayat members
Jammu and Kashmir has been under restrictions since then with clampdown on mobile and internet communications.
Global reinsurance market to see consolidation, product & service innovation:S&P
S&P Global Ratings believes that these factors will continue to push the sector to evolve, forcing market consolidation, product and service innovation, expansion of product offerings, and reimagining of the re/insurance value chain. Indeed the market may look different, but it could be a long time before the competitive landscape changes.