Nirmala Sitharaman,Finance Minister The Sabka Bima Sabki Raksha...
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Total global insured losses in 2025 at $107 billion, 24% lower than $141 billion recorded in 2024
Balz Grollimund, Swiss Re's Head Catastrophe Perils, says: "We are...
100% FDI:Lok Sabha passes Insurance Amendment Bill in one day
Finance minister Sitharaman, while speaking in the Lok Sabha, said,...
Lloyd’s of London swings to $13.5 billion profit in 2023
“We’ll continue working with our market to deliver consistent profitable performance through disciplined underwriting,” Chief Executive John Neal said in a statement London: Lloyd’s of London swung to a pre-tax profit of 10.7 billion pounds ($13.51 billion) in 2023,...
Baltimore bridge collapse could result in ‘one of the largest marine losses in history’: Lloyds of London CEO
``If you look at it from a marine point of view, this could be one of the largest marine losses in history. Insurance companies will be liable to cover the multi-billion-dollar losses. The vessel is insured, the bridge is insured, the port authority's insured, so this...
LIC, GIC Re and New India continue to be Domestic Systemically Important Insurers(D-Slls) in 2023-24:IRDAI
D-Slls refer to insurers of such size, market importance, and domestic and global inter connectedness, whose distress or failure would cause a significant dislocation in the domestic financial system Hyderabad: Insurance regulator IRDAI, on Wednesday, said Life...
Insurers could face record losses of up to $4 bln after Baltimore bridge tragedy, AXA is lead reinsurer
Claims could total up to $4 bln, record for shipping disasterInsurance lines affected include property, marine, liabilityInternational Group of P&I marine insurers have reinsurance cover of $3.1 blnAXA lead reinsurer on first layer of IG reinsurance...
Titanic Law helps ship owner limit bridge collapse liability
A key to determining any insurance claims will be proving whether the accident was caused by negligence, and if so by whom, or mechanical failure, according to Bloomberg Intelligence. The ship is insured by the Britannia Protection and Indemnity Club, which is a...
SEC ramps up hack probe with focus on tech, telecom companies
The probe — aimed partly at determining what the companies may have known but didn’t disclose — follows a landmark lawsuit the SEC filed in October against SolarWinds Corp., claiming it failed to maintain adequate controls and defrauded investors by downplaying...
FBI says Alaska Airlines passengers are possible ‘crime victims’
“A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at this time. A victim of a federal crime is entitled to receive certain services,” the letter stated. The Federal Bureau of Investigation(FBI) has...
Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit
“The creation of a dedicated cyber and digital business unit allows us to create consistency and the best possible capacity for our clients and business partners.For insurtechs and many clients seeking cyber risk protection, we are already the trusted reinsurance...
New record of 142 global Nat Cat events globally, USD108 billion insured losses in 2023: Swiss Re
Moses Ojeisekhoba, Swiss Re's CEO Global Clients & Solutions, says: "As weather hazards intensify due to climate change, risk assessment and insurance premiums need to keep up with the fast-evolving risk landscape. Looking ahead, we must focus on reducing the loss...
Policy Revolution: Empowering insurers with flexibility in Corporate Policies
Ashwani Dhanawat,Chief Investment Officer, Shriram General Insurance Historically, insurers were bound by rigid formatting requirements for policy wordings, limiting their ability to tailor insurance products to the unique needs and risk profiles of their clients.. By...