Non-Life

Willis Towers Watson was the insurance broker for Ethiopian Airlines, while Chubb was the lead insurer, a Willis spokeswoman said on Monday. A Chubb spokesman declined to comment.Britain’s Global Aerospace was the lead insurer for Boeing and also for Lion Air, which operated the plane that crashed in October, said Global Aerospace Chief Executive Nick Brown.’Insurers typically form a consortium to share the risks of large claims, with the lead insurer taking a larger proportion of the risk. The insured value of the plane itself was likely around $50 million (£38 million), according to industry sources.

China Re launches renewable energy consortium for offshore windfarm risks

Mar 12, 2019 | International News, Non-Life, Reinsurance, Technology

The consortium covers construction all risks (CAR), erection all risks (EAR) and third-party liability (TPL) and can provide capacity of up to USD 225M per risk.

Chinese carriers, Ethiopian Airlines suspend use of Boeing 737 MAX 8 aircraft after crash

Mar 11, 2019 | International News, Non-Life, Risk Management

Indian aviation regulator DGCA will also seek information from Boeing as well as Jet Airways and SpiceJet operating Boeing 737 MAX aircraft in the wake of plane crash in Ethiopia, according to senior official.

Standardisation of rates and procedures of healthcare providers necessary:Khuntia

Mar 11, 2019 | Health, Indian News, Non-Life

Ayushman Bharat which has completed 170 days since its launch has benefited 15 lakh people for which Rs. 2000 crore has been provided for. The private sector had stepped in a big way and the coverage is expected to rise to 100 million in the next one year.

157 feared dead after Nairobi-bound Ethiopian airline crashes

Mar 10, 2019 | International News, Non-Life, Reinsurance

The airline said: “Search and rescue operations are in progress and we have no confirmed information about survivors or any possible casualties.”Aviation websites identified the aircraft as a new 737 MAX 8, the same plane that crashed in Indonesia in October, killing 189

Irdai panel suggests host of steps for speedy settlement of insurance claims

Mar 10, 2019 | Indian News, Intermediaries, Non-Life

The WG has also suggested that in respect of crop insurance, the recognised qualifications of surveyors and loss assessors may be expanded to include graduation with at least one subject being agricultural science from a recognised university.

AIC chief TL Alamelu appointed as member,non-life,IRDAI

Mar 10, 2019 | Indian News, Non-Life

However, the much awaited order on the appointment of chairman of Life Insurance Corporation(LIC) has not been announced as yet.Though, there is a buzz that the name of MR Kumar,zonal manger, Delhi and the senior most LIC official, has been cleared by the ACC and PMO on Friday, no notification has been issued by the DOPT on Sunday. Similarly the names of Vipin Anand, zonal manager, Western Zone, and TC Suseelkumar, ZM, Hyderabad,are doing the rounds as newly appointed managing directors of the corporation.

Hybrid car-plane, van with gemstones: Luxury takes centre stage at Geneva Motor Show

Mar 9, 2019 | International News, Non-Life, Technology

The Battista is the first so-called hypercar – which are ultra-light, ultra-fast aerodynamic cars – that is fully electric, according to a Pininfarina sales rep on the floor.Only 150 Battistas will be made, each with a 1,900 horsepower engine can go from 0 to 100 kilometres (0-62 miles) per hour in less than two seconds. The vehicle, which carries a price tag of around two million euros ($2.2 million), was conceived for enthusiasts who have “money … and a really great passion for cars,” the sales rep said.

Pool Re’s new initiative to make businesses more resilient to terrorism in UK

Mar 9, 2019 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management

Commenting on the collaboration, Minister of State for Security, Ben Wallace MP, said: “This project is one of the first of its kind – a collaboration between the police, the insurance sector, and the Government that will help to keep the country safe and secure. If we are to properly respond to the terrorist threat, we need to ensure everyone plays their part. That is why partnerships like this one are so vital and I thank Pool Re for their leadership.”