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IRDAI closely monitoring health insurance claims gaps, says Chairman Seth
Ajay Seth, chairman,IRDAI `While the number of health insurance...
Willis announces senior Cyber appointments in Asia
Willis, a WTW business has appointed Conor Keating as Head of...
Israel to provide $6 billion in aviation war insurance
The guarantee framework will grant Israeli airlines insurance policies against war risks, thereby ensuring the continuity of air operations in Israel Israel’s parliamentary finance committee approved a plan to provide a state guarantee of $6 billion to cover insurance...
Airlines split over safety risk of Israel flights
Airlines have faced warnings over insurance cover in the wake of the weekend attacks on Israel by Hamas militants Airlines wrestled with the safety risk of evacuation operations in Israel on Thursday, with Norwegian Air and Dutch KLM canceling flights while Air France...
Governments join rescue effort as airlines face Israel insurance alert
Israel’s parliamentary finance committee said late on Tuesday it would debate authorizing state guarantees for providing war risk insurance for Israeli airlines The panel said insurance companies had indicated they were entitled to cancel cover with seven days’...
Use of Weather Derivatives surges as extreme climate events rock the globe
Weather derivatives let buyers hedge against the risk that the weather will damage their business. Unlike insurance, where companies must prove they have suffered a loss, they pay out based on indexes. These might track the temperature in Paris or rainfall in New York...
Israel’s ports feel strain as shipping traffic slows after attacks
Israel is among countries in the Middle East already considered a high-risk area by insurers in the London insurance market, a key center for marine insurance cover.Ships pay an additional war risk premium for seven-day voyages to Israel. Since Saturday’s attacks...
Global economic losses from extreme weather could hit $5 trillion -Lloyd’s
“The global economy is becoming more complex and increasingly subject to systemic threats,” said Trevor Maynard, executive director of Systemic Risks at the Cambridge Centre for Risk Studies London: Global economic losses could reach $5 trillion under a “plausible...
Intangible Risks: 80% of global listed companies’ $ 76 trilion digital assets value remains uninsured, says Swiss Re
South Korea came out on top of the Swiss Re's Insurance Digitalisation Index, followed by Sweden, Finland and the US. While advanced markets with strong physical infrastructure and high internet access rates have made most progress in digitalising their economies,...
Losses from China disasters reach $42 billion in first nine months of 2023
The emergency management ministry unveiled the unprecedented toll wrought on the nation of 1.4 billion by calamities that ranged from sandstorms to rains that brought massive flooding and historic rainfall in Beijing, the capital BEIJING: China suffered direct...
Gallagher Re appoints Jonathan Allard to lead newly created Global Credit & Political Risk team
Recent geopolitical events and macro-economic conditions have driven demand and need for dynamic reinsurance solutions from both the public and private sectors, said Jonathan Allard added London: Global reinsurance broker Gallagher Re has this week appointed Jonathan...
General Insurance industry premium rises 30 % to Rs 29,467 crore in Sept, pvt sector gains market share
With a total premium of Rs77,049 crore, up 21 per cent y-o-y, mobilised in the first six months Fy 2024, the market share of private sector multiline general insurers has inched up to 53.58 per cent from 50.81 per cent(in Sept fy 2023) while the SAHIs, with a total...