Central to the package is a lower price cap on Russian oil – a move...
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Private sector general and health insurers record higher underwriting losses in FY 25
Led by Tata AIG General insurers, which had an underwriting losses...
Uttarakhand crash: AAIB says helicopter tumbled down hill after rotor blade hit overhead cable
The 17-year-old Bell 407 helicopter operated by Aerotrans Services...
London’s Excel Centre wins insurance ruling on COVID-19 losses
Law firm Stewarts, which represented the owners of the ExCel Centre, said the ruling “could potentially affect hundreds of thousands of policyholders.” “Policyholders whose BI losses remain uncompensated should now revisit their policy documents to consider whether...
Rising cyberttack on EU’s renewable sector, nightmares for European power chiefs
Sophistication of Russian cyberattacks against Ukraine had provided a wake-up call to how vulnerable digitalized and interconnected power systems could be to attackers. They’re nervously monitoring a hybrid war where physical energy infrastructure has already been...
IRDAI asks insurers to put up special measures for any cyclone Biparjoy claims
It needs to be ensured that all claims are surveyed immediately and claim payments/ on account payments are disbursed at the earliest and in any case not exceeding the stipulated timeline Hyderabad: Insurance regulator IRDAI has asked the chiefs of all general...
Rule changes to bolster insurance penetration, more players to enter the sector soon: IRDAI Chief
Debasish Panda, Chairman, IRDAI Four new firms have entered the nation’s insurance sector in the last year, and a few more are in various stages of enrollment, indicating the business environment is favorable, according to Debasish Panda, Chairman, IRDAI. Assets under...
US cyber insurance premiums soars by 50% as ransomware attacks increase
Ransomware attacks soared last year, pushing demand for coverage after the pandemic-induced work-from-home era also made remote workers more vulnerable to digital attacks. Those attacks also spurred companies and individuals to adopt more robust cybersecurity measures...
Emerging Risks: From frozen Arctic to hacking AI
Patrick Raaflaub, Swiss Re's Group Chief Risk Officer, said: "The concurrent increases in economic interests, environmental change and geopolitical tensions make the Arctic a hotbed for emerging risks and potential risk accumulation. With SONAR, we aim to proactively...
Putin says Russia thinking of ditching grain deal due to West’s ‘cheating’
Vladimir Putin, President, Russia "We are thinking about getting out of this grain deal now," Putin told a meeting of Russian war correspondents and military bloggers. "Unfortunately, we were once again cheated - nothing was done in terms of liberalising the supply of...
SCOR chairman Kessler, 71, passes away, company pays tribute
Denis Kessler Thierry Léger, chief executive officer, SCOR, said, “Over the past two decades, Denis Kessler has been the architect behind SCOR’s success and reputation throughout the world. His passion for reinsurance was unparalleled, and his ambition to make SCOR an...
UN says London market insurance coverage secured to salvage rusting oil tanker off Yemen
The insurance is supported by significant engineering expertise, which has been mobilised to undertake the movement of the oil, and includes naval architects, chemists, surveyors and oil spill response organisations, as well as government entities and the UN London:...
Guy Carpenter appoints Laurent Rousseau as CEO of EMEA
Guy Carpenter announced the appointment of Laurent Rousseau, former CEO of SCOR, to the newly created position of Guy Carpenter CEO of EMEA and Global Capital Solutions, effective September 4, 2023. Based in London,he will report to Dean Klisura, Guy Carpenter...