A U.S. Treasury spokesperson called on G7 and European Union allies...
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“Initial payouts not sufficient,” claims Mike Andrews, US lawyer for Air India 171 crash victims
Asked about initial payments being offered by Air India to the...
Future-ready power companies seize soft market advantages, Willis
Infrastructure hotspots such as Indonesia, Vietnam and the...
First bond to insure against cyber attacks issued
Long Walk Reinsurance Ltd. issued a $75 million so-called cat bond, sponsored by AXIS Capital, to insure against “a cyber-catastrophe event” across its main underwriting units, the Bermuda-based firm said Tuesday. “We expect this transaction will serve as a template...
After Munger’s death, Berkshire succession comes into focus
Ajit Jain,Vice Chairman, Insurance Operations, Berkshire Hathaway Charlie Munger's death, on Tuesday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Warren Buffett's top...
US warns of evolving threats to ships sailing in Red Sea
Most insurers already charge extra premiums for sailing through those waters and those charges could increase further if the attacks continue, according to Munro Anderson, head of operations at Vessel Protect, a specialist marine war risks underwriter A spate of...
Sitharaman to address global reinsurance meet in Mumbai on Thursday, to promote India as a global reinsurance hub
The power packed event will be addressed by Vivek Joshi, secretary, Department of Financial Services, Debasish Panda, chairman, IRDAI, K. Rajaraman, chairperson, IFSCA, Hasmukh Adhia, chairman, GIFT City, Siddhartha Mohanty, chairman, Life Insurance Corporation New...
Spiraling climate costs make insurance unaffordable for some Australians
Over a million households now face home insurance affordability stress, As a growing number of people dump or scale back their insurance, a “protection gap” is emerging, said Andrew Hall, head of the Insurance Council of Australia Increasing numbers of Australians are...
PSU insurers’ shares see sudden spurt on Friday
After lying low in recent years, on Friday GIC Re's share price has risen by 15 per cent to Rs 304.45 while NIA's scrip has gone up by 20 per cent to Rs 209. LIC's share gained 10 per cent and closed at a monthly high of Rs 678 on Friday Mumbai: Though , Sensex fell...
AM Best revises GIC Re’s Credit Rating outlooks to positive from stable, assigns National Scale Rating
Ramaswamy Narayanan, chairman and managing director, GIC Re The revision of the Long-Term ICR outlook to positive from negative reflects an improvement in AM Best’s view of GIC Re’s balance sheet strength and ERM fundamentals `With positive Credit Rating...
Electronic Health Records can speed up underwriting process by more than seven times: Swiss Re study
Swiss Re's extensive learnings emphasize the significance of digital Electronic Health Records (EHRs) for quicker and more accurate underwriting decisionsEHRs could replace Attending Physician Statements (APS) in nearly 50% of cases that originally relied on APS only...
Marsh partners with Ukrainian govt and insurers for cost-effective covers for Black Sea grain shipments
Denys Shmyhal, Prime Minister of Ukraine, said: “The launch of the Unity facility will enable Ukraine to provide vital food supplies to the world at the same time as supporting the Ukrainian economy and keeping the Black Sea open for international trade. This...
Cyber ‘Catastrophe Bonds’ set to test bond markets
Beazley Plc, which owns specialist insurers across Europe and the US, is exploring a potential $100 million cyber cat bond, according to Artemis, a research firm specializing in insurance-linked securities. And AXIS Capital is preparing to issue a $75 million cyber...