According to think tank GTRI, any closure or military disruption in...
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Israel-Iran conflict spreads into cyberspace and crypto
“Most disruptive and destructive cyberattacks are about influence...
Iran-Israel Attacks: Insurance costs jump for ships sailing in Persian Gulf
Underwriters are now charging 0.2% of the value of a ship for calls...
Globally, wildfires cost $50 bn every year; AI can help fight them: WEF
World Economic Forum said that global wildfires in 2021 released an estimated 6,450 mega tonnes of CO2 into the atmosphere Sensors with in-built AI can collect acoustic information or operate as smoke detectors in forests and alert authorities within the first hour of...
MS Amlin strengthens Asian reinsurance offering with Phoenix 3 Re launch
Phoenix 3 Re has secured over USD45m of collateralised capacity, more than its predecessors Phoenix 1 Re and Phoenix 2 Re. Alongside an increased underwriting risk appetite, this gives MS AAP close to USD83m of capacity through its Phoenix vehicles, to support local...
India may become the sixth largest insurance market in the world by 2032: Swiss Re Report
India will become the sixth largest insurance market in the world in terms of premium volume by 2032, up from 10th largest in 2021 Life insurance profitability in India to benefit from rising interest rates. Pandemic-related claims continued to impact life insurers’...
Malfunctioning of system human error could have caused Nepal plane crash Experts
The aircraft involved is a 15 year old ATR 72-500 with registration number 9N-ANC and serial number 754. This aircraft was equipped with an old transponder with unreliable data. We are downloading high resolution data and verifying the data quality," flight tracking...
68 killed in Yeti Airline plane crash in Nepal; fate of 5 Indians not known
Yeti Airlines' 9N-ANC ATR-72 aircraft took off from Kathmandu's Tribhuvan International Airport at 10:33 am and crashed on the bank of the Seti River between the old airport and the new airport minutes before landing, according to the Civil Aviation Authority of Nepal...
WTW combines Asia and Australasia into one Asia Pacific, appoints Simon Weaver to head new region
Based in Australia, Simon is responsible for driving business growth throughout the newly integrated region, enabling closer collaboration across the businesses to deliver superior advice, broking and solutions in the areas of people, risk and capital to organisations...
Beazley launches industry’s first Cyber Catastrophe Bond
This is the first time that a liquid Insurance-Linked Securities (ILS) instrument has been created for cyber catastrophe risks, said Beazley The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with the...
General insurers’ premium grows by 14.44% to Rs 20,687 crore in Dec , PSU gen insurers market share falls over 2% to 33.16%
The private sector general insurers have mobilised a total premium of Rs 96,246 crore, up 22 per cent in Apr-Dec period while PSU general insurers have gathered a total premium of Rs 62,092 crore,up 8.64 per cent, during the same period. Mumbai:The total premium of...
Airlines in India to add 100 aircraft per year to fly 412 mn passengers
Civil Aviation Ministry officials said that there were about 400 aircraft in 2013 and in 2021-22, the number increased to 700. Airlines in India are going to add 15 per cent capacity or 100 to 110 aircraft per year and the aviation sector is looking at close to 1,200...
Hackers use AI tool to write malicious code
"Cybercriminals are finding ChatGPT attractive. In recent weeks, we're seeing evidence of hackers starting to use it to write malicious code. ChatGPT has the potential to speed up the process for hackers by giving them a good starting point," said Sergey Shykevich,...