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Middle East Crisis: More oil tankers idle in Persian Gulf as attacks disrupt Hormuz
More than half of the world’s largest maritime insurance clubs have...
Middle East Crisis:Global Marine re/insurers issue notices of cancellation(NOC) under standard 7-day war clauses
Additional premiums for vessels transiting high-risk waters are...
Flight and voice data boxes extracted from crashed Brazilian plane
The airline VoePass, which operates a small fleet of planes made by ATR, said the flight Friday was traveling from the state of Parana to Sao Paulo’s Guarulhos International Airport when it crashed in a residential area, killing 58 passengers and four crew members...
Hiscox unveils GenAI-enhanced lead underwriting platform
By combining Hiscox AI Laboratories with Google Cloud’s generative AI, Hiscox now has the ability to remove manual elements of the underwriting process. Risks that are in scope are assessed using Google Cloud’s Gemini large language model, and the process generates an...
Legacy tech hindering pricing and profitability, says report
While the buzz around AI is inescapable and the potential benefits undeniable, its true value can only be fully harnessed when insurers get their own houses in order. The reality is the sector’s current pricing infrastructure doesn’t have the capacity to support this...
Major wildfire rages out of control on the fringes of the Greek capital
Wildfires are frequent in Greece during its hot, dry summers, but authorities have said climate change is fueling bigger and more frequent blazes. The fire sent a blanket of smoke over the center of the Greek capital, darkening the sky. It began Sunday afternoon about...
Deepak Sood appointed as Member, Non-Life, IRDAI
Deepak Sood, Member, Non-life, IRDAI Sood had started his career in state owned United India Insurance(UII) in 1988 and afterwards had joined private sector insurance companies. He has earlier worked in Bajaj Allianz Insurance. New Delhi: The government on Monday has...
SBI Gen, Munich Re and GIC Re bag Nagaland’s parametric renewal cover for disaster management
Neiphiu Rio,Chief Minister, Nagaland Nagaland Chief Minister Neiphiu Rio said his government and SBI General Insurance inked an MoU on for Disaster Risk Transfer Parametric Insurance Solution (DRTPS), making Nagaland the first state in the country to implement a...
Kerala CM Vijayan requests PM Modi for financial assistance to tackle climate change
Prime Minister Modi on Saturday visited to the disaster-affected region in Wayanad and is being received by Kerala Chief Minister Pinarayi Vijayan and Governor Arif Muhammad Khan CM Vijayan said that a thorough assessment of the damages is currently underway, with...
10 X-Band Doppler Weather Radars to enhance weather monitoring, says Jitendra Singh
Jitendra Singh, Union minister of State (Independent Charge) for Science and Technology and Earth Sciences The deployment of these radars is part of a broader initiative by the Government of India to strengthen the country’s meteorological infrastructure. By enabling...
Plane crashes in fiery wreck in Sao Paulo with 62 people aboard
At an event in southern Brazil, President Luiz Inácio Lula da Silva asked the crowd to stand and observe a minute of silence as he shared the news. He said that it appeared that all passengers and crew aboard had died, without elaborating as to how that information...
GIC Re’s net profit jumps 42% to Rs1036 cr in Q1FY25
N Ramaswamy, CMD, GIC Re GIC Re has expanded its premium income by almost 40 per cent y-o-y to Rs 12,406 crore during the quarter ending in June 2024 `We now plan to push growth both in top line and bottom line. Of course, we are closely...