Ankur Gupta, head of client management, Munich Re India Branch,...
Category:
Non-Life
Latest
III collaborates with Mumbai University to launch PG Diploma course in Insurance Marketing
The classes will commence from 19th August and on successful...
CAG report reveals beneficiaries paid money for treatment under AB-PMJAY
The CAG’s audit report on AB-PMJAY which was presented in...
Fiat Chrysler to pay $700M to U.S., States, car owners over diesel emissions claims
The Justice Department in 2017 said Fiat Chrysler used auxiliary emissions controls in diesel vehicles that led to “substantially” higher than allowable levels of nitrogen oxide, or NOx pollution, which is linked to smog formation and respiratory problems.
Smart Car makers see safety enhancements turning into revenue opportunities
Whether by generating alerts about drowsiness, unfastened seat belts or wallets left in the backseat, the emerging technology aims not only to cut back on distracted driving and other undesirablebehavior, but eventually help automakers and ride-hailing companies make money from data generated inside the vehicle.
Sharing Safety:Toyota offers Its Driver Assistance Technology to Competitors
Self-driving cars and related mobility services could become a $10 trillion market, according to Ford Motor Co. Chief Executive Officer Jim Hackett. Toyota’s seemingly selfless act could pay off in fat royalties and potentially burnish its reputation as a safety and technology leader just as those attributes become critical to the autonomous age. Toyota insists it’s about saving lives in a world where 1.3 million people die on the highway each year.
Insurance Penetration and Density are on a slow recovery path in India
The life insurance industry’s penetration has seen a slight increase in 2015 reaching 2.72 percent, remained same in 2016 and increased to 2.76 in the year 2017. The penetration of non-life insurance sector in the country has gone up from 0.56 in 2001 to 0.93 in 2017(0.77 in 2016).
Los Angeles sues IBM’s Weather Channel for use of location tracking
In a complaint filed Thursday [Jan. 3] in California state court, the city alleges IBM used detailed location data from users for targeted advertising and to identify consumer trends that might be useful to hedge funds, while at the same time telling consumers their location would only be used to localize weather forecasts. The suit doesn’t allege personally identifiable information was sold.
Joseph Panel suggests measures to accord chartered institute status on IIISLA
There is a need to work with all the members of the IIISLA in a coherent manner to design a well-laid governance system to carry out the objects of its present Articles of Association and gain credibility, essentially required for the institute as well as for the profession of survey and loss assessment, suggest the report.
The total amount of domestic insurance claims paid (excluding health segment) has grown by 5.6% and 16.7% over the last two years. The growing volumes of non-life business and the increasing number of claims demand existence of qualified professional surveyors to examine, measure, assess the losses and report to insurers for speedy settlement of claims.
Crop insurance as ‘big’ a scam as Rafale: Uddhav Thackeray
“People have got cheques of Rs 2, Rs 5, Rs 50, Rs 100. Allegations are being made that there is a scam of thousands of crores in the crop insurance scheme,” he said
Indian Terrorism Pool premium expands by 10 % to Rs 516 cr in 2017-18
The Pool has thus completed 16 years of successful operation. All Indian general insurance companies, State Government of Gujarat and GIC Re are members of the Pool.
Global natural disasters wreak $160 bn damage in 2018; worst losses in US
As with the previousc year the United States suffered the heaviest losses from disasters globally, with its second record wildfire season in a row. But it was given some respite from damaging storms, with the hurricanes hitting the country in 2018 inflicting far less destruction than in 2017
Swiss Re launches FLOW, insurance for companies exposed to high or low water levels
Unlike traditional insurance covers, which often require loss investigations and adjudication, FLOW provides pay-out of fixed amounts based on a defined index, for example each day the index remains below or above the defined index threshold value