Depending on exactly where Melissa hits Jamaica, total losses may...
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JBA Risk Management to set up India operation, to meet growing demand for flood intelligence
India’s banking sector is increasingly recognising the impact of...
Category 5 storm Hurricane Melissa threatens to bring widespread destruction to Jamaica
Jamaica’s losses will range between $5 billion to $16 billion,...
Ship evacuated after first civilian fatalities in Houthis’ Red Sea attacks
War risk insurance rates have already reflected the sinking of the Rubymar cargo ship, days after being hit by a Houthi missile on Feb 18, and the first fatalities from the True Confidence, said Munro Anderson, head of operations at marine war risk and insurance...
Aon acquires AI-Powered platform to help fleet & mobility clients make better, insight-driven decisions
"It is more important than ever for our fleet and mobility clients to have access to data-driven insights and tools that inform their risk and business strategies," said Jillian Slyfield, chief innovation officer at Aon DUBLIN: Aon plc, a leading global professional...
Govt, exporters to discuss Red Sea crisis issue on March 8
After Yemen-based Houthi rebels have targeted ships in the Red Sea and surrounding waters over the Israel-Hamas war. the shipping costs have jumped and consignments are taking more time to reach Europe and the US as the ships are taking the Cape of Good Hope route,...
Number of farmers under PM’s crop insurance scheme rises by 27 pc in 2023-24: Govt
During this period, a total amount of nearly Rs 31,139 crore was paid by farmers as their share of premium against which claims of over Rs 1,55,977 crore have been paid to them. Thus, for every Rs100 of premium paid by farmers, they have received about Rs 500 as...
Volkswagen faces lawsuits in Germany over Porsche EV battery triggering fire in cargo ship
The case was brought by half a dozen plaintiffs, including Mitsui OSK Lines Ltd., the ship’s operator, and Allianz SE, one of the insurers of the vessel, according to a spokesman for the tribunal. The plaintiffs claim that the fire originated from the lithium-ion...
Miller appoints Frédérique Champvillard as Head of Operations in Asia
Miller, an independent specialist (re)insurance broker, announced the appointment Frédérique Champvillard as head of operations in Asia. Frédérique brings over 30 years’ experience across the insurance and reinsurance industry, most recently as managing director and...
Malayan Insurance enhances Natural Catastrophe Analytics with Moody’s RMS Risk Modeler
Andrew Hare, managing director, APAC, Moody’s RMS, said: “We are delighted to partner with Malayan Insurance as they adopt Risk Modeler. In navigating the complexities of a rapidly evolving market, (re)insurers require deep insights that offer faster analytics, deeper...
India’s wheat, rapeseed ravaged by rain just before harvesting
"The entire wheat crop has been flattened due to heavy rainfall and hailstorm. It was nearly mature, and we could have harvested it in two to three weeks," said Mukesh Kumar, a farmer from Uttar Pradesh, the country's largest producer of the grain Untimely rainfall...
War risk insurance premium through Red Sea remained stable despite the sinking of the cargo ship
Insurance industry sources said that war risk premiums being quoted for Red Sea voyages had remained around 1% of the value of a ship for some weeks – compared with around 0.5% before the attacks started – with various discounts applied by underwriters The cost of war...
Malaysia may renew search for lost MH370 decade after it vanished
MH370 vanished on March 8, 2014, on its way to Beijing from Kuala Lumpur with 239 people on board. Investigators concluded the plane deliberately left its planned flightpath, looped back over Malaysia and headed out to sea Malaysian authorities are considering...