The reversal is especially stark because Air India had been edging...
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SCOR and AXA jointly to launch Lloyd’s consortium for ecological restoration insurance
Jean-Paul Conoscente, CEO of SCOR P&C, commented: “Restore...
Korean Re launches operations in India’s GIFT City
JG Won, President & CEO, Korean Re, announcing the launch of...
Kerala flood: Heavy rains wreak havoc, 11 dead
Revenue Minister K Rajan today said parts of Kerala received over 20 cm of rain in the last 24 hours and added that a total of 11 people have lost their lives in the state in various recent rain-related incidents Thiruvananthapuram: Heavy rains continue to lash Kerala...
Air Turbulence: Flights leaving Tokyo dominate roughest long-haul services list
Strong turbulence is produced when air streams traveling at significantly different speeds come together. This is typically encountered at the boundaries of jet streams, over mountains and in certain cloud storms, according to the turbli website The deadly turbulence...
Travel insurance policies “will likely” cover injuries sustained by aircraft turbulence: ABI
Under the Montreal Convention, Singapore Airlines is liable for accidents, which can include turbulence, on international flights regardless of whether the airline was negligent, according to U.S. aviation lawyers Travel insurance policies “will likely” cover injuries...
Earnix highlights the potential of synthetic data in specialty insurance
The increasing demand for data in specialty insurance has prompted underwriters and brokers to begin harnessing synthetic data to supplement existing datasets, improving risk assessment efficiency. This is because synthetic data offers solutions to several key...
Marsh’s Alex Rosati to join as Asian claim head of WTW for its Corporate Risk & Broking business
Alex Rosati In his role with WTW, Alex will focus on all aspects of the firm’s claims proposition, including the development and execution of WTW’s claims management strategy across Asia Singapore: WTW, a global advisory, broking and solutions company, today announced...
Canopius announces Andy Haste as Group Chairman
He has deep insurance expertise; his former roles include group chief executive of RSA Insurance Group, and CEO at AxA Sun Life, as well as serving as senior independent director and deputy Chairman of Lloyd’s for nine years, between 2012 and 2021 London: Canopius, a...
Health sector most at risk from AI-related threats, Swiss Re
Christoph Nabholz, Chief Research & Sustainability Officer at Swiss Re,said: "While IT services are currently the most affected by AI risks as a pioneer in this area, this is set to change as the use of technology becomes more widespread across all industries,...
Shipping: Losses hit all-time low despite increasing risks for the sector: Allianz Report
The number of shipping incidents reported globally declined slightly last year (2,951 compared to 3,036), with the British Isles seeing the highest number (695). Fires onboard vessels – a perennial concern – also declined Fires remain a key safety issue on larger...
New India doubles its net profit to Rs 354 cr in Q4FY24
Titus Francis, executive director, NIA "NIA has delivered excellent results in FY24, despite adverse impact of several catastrophic claims during the year. It has recorded a 128 per cent growth in its net profit in Q4. On individual lines, Motor third party loss ratio...
Global cybercrime cost increased 12x faster than total cybersecurity spending: Report
Cyber attacks, including ransomware, data breaches, cyber espionage, and phishing, will inflict damages totalling $9.2 trillion in 2024, $1.1 trillion more than last year and a shocking 972 per cent more than six years ago New Delhi: As organisations continue to spend...