The 3rd edition “IFSCA-IRDAI GIFT-City Global Reinsurance Summit”...
Category:
Reinsurance
Latest
AIG to pay Neal $2.7 million to compensate for “foregone incentives”
John Neal, forner CEO, Lloyd's AIG withdrew its employment offer to...
Russian oil cargo discharge at Indian port delayed due to insurance scrutiny, sources say
Since April, India has required online verification of insurance...
Catastrophe models underestimate climate risks, find out investors
Catastrophe bonds and other insurance-linked securities, which powered last year’s highest-returning hedge fund strategy, are built on calculations that can underestimate a new breed of risk stemming from high-frequency events such as wildfires and thunderstorms,...
Mumbai hoarding collapse: 8 dead, 64 injured, Case of culpable homicide to be lodged
"There will be an investigation regarding what kind of permission they have for this hoarding, whether they had this permission or not. The CM has directed that a proper audit of all the hoardings in Mumbai be done by the BMC to mitigate such incidents in the future....
TATA AIG General launches India’s first satellite in-orbit 3rd-party liability policy
The Indian space industry is experiencing phenomenal growth, with a projected market size reaching into the tens of billions. With the privatisation of space launches, India targets a five-fold increase in its global launch market share, projected to reach $47.3...
ADB’s $1.70 mn study to develop multi-hazard early warning system for glacial lake outburst floods(GLOFs) in Himalayan region
Pushpendra Johari, senior vice president, sustainability, RMSI ``There's some progress in the case of GLOF, with studies emerging and consultations sought from experts like in the case of Nepal. ADB study for Bhutan and Nepal will include climate and disaster...
White House wants cybersecurity standards on hospitals
The proposal may extend beyond hospitals too. The administration intends to issue a notice of proposed rulemaking in coming weeks to bring in minimum cybersecurity requirements for entities that receive money from Medicare and Medicaid, according to a US official, who...
China Construction Bank sued in U.S. over reinsurance fraud losses
The bank allowed employees to conspire with Israeli insurance startup Vesttoo Ltd. to sell reinsurance policies that weren’t real, according to a complaint filed late Thursday by the Porch Group in Manhattan federal court. Vesttoo filed for Chapter 11 bankruptcy in...
El Niño sees African Union Insurance Agency pay out $60 million
El Niño is caused by ocean currents that bring dry and hot weather to Southern Africa. Zimbabwe, Malawi and Zambia have declared national state of disasters The African Union’s climate insurance agency will pay out at least $60 million to four southern African nations...
Worsening Weather: A $25 billion Market Opportunities
Most large and listed European companies are now required to disclose what they see as risks and opportunities from environmental factors. In the US, the Securities and Exchange Commission finalized rules in March that would make it mandatory for companies to publish...
ICEYE launches Flood Insights and Flood Early Warning for Canada, providing near real-time situational awareness
ICEYE’s Flood Early Warning data is available 96 hours before each potential flood, showing the areas most likely to experience flooding. During each flood, data on the total extent of the flood water is provided every 24 hours. The complete extent and depth of the...
Southern Brazil hit by the worst floods in more than 80 years
It was the fourth such environmental disaster in a year, following floods in July, September and November 2023 that killed 75 people in total Heavy rains in the southern Brazilian state of Rio Grande do Sul killed 39 people, with another 68 still missing, the state...