``According to our modelled peak-loss scenario, insured losses...
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West Asia Crisis: Higher underwriting uncertainty in global terrorism and political violence insurance markets
For insurers and reinsurers, the key issue is not only the...
Lloyd’s to continue providing cover for vessels traveling through Strait of Hormuz
Shippers seeking insurance for tankers going through the strait “is...
EV Battery Fires: South Korean blaze puts spotlight on safety concerns
Auto experts say EV battery fires burn differently than fires in internal combustion engines, often lasting longer and being harder to extinguish as they have a tendency to reignite South Korea is urging automakers operating in the country to disclose the manufacturer...
Floods threaten Europe as searing heat gives way to storms
Climate change is increasing the frequency and intensity of extreme weather events, including heat waves, violent storms and wildfires. Countries around the Mediterranean Sea — which reached a record average temperature of 28.16C (82.7F) on Tuesday — are some of the...
Google to expand AI initiatives in India, targeting language barriers, agricultural efficiency
Abhishek Bapna, Director of Product Management at Google DeepMind, emphasized that Google's agricultural initiatives are driven by two major goals: improving livelihoods and addressing climate change through necessary interventions. Banks and insurance companies could...
MCA notifies new accounting standard, Ind AS 117, for insurance industry
The insurance regulator IRDAI can now announce the date of adoption of the new standards by the Indian insurance industry. The new framework would require domestic insurers to further bolster their disclosure needs, leading to greater transparency and informed...
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...