Shivraj Singh Chouhan,Union Agriculture Minister Of the total claim...
Category:
Reinsurance
Latest
Frequent disasters expose climate risks to infrastructure in South Asia
The Himalayan region, which crosses Nepal and several nearby...
India data breach costs reach new record level Of Rs 22 crores: IBM Report
“India's accelerating AI adoption brings immense opportunity, but...
How El Nino threatens emerging market economies
India and Egypt are among the economies that are overall most vulnerable to El Nino's impact this year, according to an index by Standard Chartered Bank, taking into account the weight of the primary sector, the share of food in inflation baskets and a country's...
Munich Re remains world’s largest reinsurer in AM Best’s Top 50 Ranking, followed again by Swiss Re
According to the report, total reinsurance gross premiums written by the top 50 reinsurers increased by 2.6% to USD 363.6 billion in 2022 “For many reinsurers, premium growth was driven primarily by strong rate increases, not exposure growth,” said Christopher...
Moody’s RMS estimates $4 to 6 billion in economic losses from Hawaii Wildfires
Michael Young, Vice President, Product Management, Moody’s RMS, noted: “When the rare situation of high wind and wildfire ignitions do occur again in the future, we need to be sure all the buildings comply with scientifically proven risk reduction features highlighted...
Russia’s flagship oil above $60 does little to halt G-7 services
Insurers have complained publicly about the risks of covering cargoes using the attestation system in recent months. There has also been a drop off in the number of ships calling at Russian ports with industry-standard insurance from members of the International Group...
Ukraine in talks with insurers on deal to cover grain exports
Attacks by Russian forces on agricultural infrastructure in recent weeks have helped sustain sky-high insurance premiums for ships calling into Ukraine Current market rates for war risk insurance can be anywhere between 3% and 5% of the value of a ship, meaning there...
Insured losses from natural catastrophes set to top $100 billion in 2023
More than two-thirds of the insured losses were as a result of severe thunderstorms in the US. The 12-figure threshold is likely to be passed even though just $5 billion of the $40 billion in damages caused by the year’s most devastating event — the earthquake that...
India faces record low August rains, threatening summer crops
August rainfall, expected to be the lowest since records began in 1901, could dent yields of summer-sown crops, from rice to soybeans, boosting prices and overall food inflation, which jumped in July to the highest since January 2020.The monsoon, vital for the...
Munich Re expands its green solutions in Indian market
Ankur Gupta, head of client management, Munich Re India Branch, revealed that the reinsurer, after launching its Solar Photo Voltaic Performance Warranty , has recently unveiled two new products for fast expanding Electric Vehicles(EVs) segments -Extended Warranty...
What are China’s ‘sponge cities’ and why aren’t they stopping the floods?
Breakneck urbanization has encased vast stretches of land in impermeable concrete, often along banks of major rivers that traditionally served as flood plains. With wetlands paved over and nowhere for surplus water to settle, waterlogging and flooding was commonplace...
Ships backed up in Black Sea lanes as Russia warning shots raise tensions
Insurance industry sources said rates for additional war risk premiums remained stable on Monday, although there was a possibility of a rise if a ship was damaged or sunk The cost of a Black Sea war risk premium, which is typically renewed every seven days and is in...