The court ordered the airline to pay each family compensation for...
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Employee medical plan costs in India expected to rise by 11.5 per cent in 2026
The report showS cardiovascular diseases, gastrointestinal...
Climate change supercharge devastating South Asian floods
A trio of tropical cyclones battered the region from Sri Lanka to...
Bermuda reinsurer returns peaking, to remain favorable in 2024: Fitch
``We expect market conditions to remain favorable at the 2024 midyear renewals, although with stabilizing rates as pricing is generally sufficient. (Re)insurers are also expected to mostly maintain the tighter terms and conditions negotiated in 2023,'' said Fitch New...
US re/insurance broker Lockton sets up operation in India
Sources point out that some of the employees of Aditya Birla Insurance Brokers, whose acquisition by a private equity fund -Samara Capital- has not been approved by the Indian insurance regulator IRDAI yet, have also joined Lockton’s India operation Singapore: US...
Hedge funds rake in huge profits betting on catastrophe risk
The best hedge fund strategy of 2023 was a bet on insurance-linked securities (of which catastrophe bonds are the dominant sub-category), which generated over 14%, according to Preqin, a consultancy that provides data on the alternative asset management industry....
Traffic through the Panama Canal is being cut due to drought, disrupting global trade
On Wednesday, Panama Canal Administrator Ricaurte Vásquez said they would cut daily ship crossings to 24, after already gradually slashing crossings last year from 38 a day in normal times A severe drought that began last year has forced authorities to slash ship...
Miller appoints Shaun Sinniah as Head of Reinsurance and Capital
Miller, the leading independent specialist (re)insurance broker today announce the appointment of Shaun Sinniah as Head of Reinsurance and Capital, as the firm builds out its reinsurance offering and international presence. Shaun will be based in London.Shaun was...
Climate change may claim 14.5 mn lives by 2050: WEF
Flooding alone is estimated to cause 8.5 million deaths by 2050, posing "the highest acute risk of climate-induced mortality", according to the study. Droughts, as the second leading cause of climate-related mortality, are forecast to claim 3.2 million lives. Heat...
Insurers seek to exclude US, UK Ships From Red Sea Coverage
“Underwriters are adding clauses saying no US, UK or Israeli involvement,” he said. “Just about everybody is putting something like that in, and many include the words ‘ownership’ or ‘interest’” War risk rates have gone into a frenzy in recent days following the US...
India’s insurance sector to be fastest growing among G-20, may scale $450 bn of prm in next decade: Swiss Re
Swiss Re officials(L to R) Mahesh H Puttaiah, Head Group Economics & Sigma Research, Hadi Riachi, Market Head (India),Vineet Kumar, Head Cat Perils (APAC) at a press conference in Mumbai to release reinsurer's report ``India's Economy & Insurance Outlook...
Red Sea crisis: Exporters holding consignments as shipping costs rise
Around 80 per cent of India's merchandise trade with Europe passes through the Red Sea and substantial trade with the US also takes this route. Both these geographies account for 34 per cent of the country's total exports New Delhi: Indian exporters are holding their...
Indian exporters face rising costs after Houthi Red Sea attacks
Exporters said 95% of vessels had rerouted around the Cape of Good Hope on the southern tip of Africa, adding 4,000 to 6,000 nautical miles and 14-20 days to journeys from India since Houthi militants began attacking shipping in November. The cost of a 24-foot...