The incident will trigger multiple coverage types, including...
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War insurance costs spike for ship owners as Black Sea threats grow, sources say
War insurance costs for some port calls have been quoted between...
Govt incorporating suggestions at final stages of Atomic Energy Bill : Jitender Singh
Union Minister Singh also reiterated that as announced in the...
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...
Putin signs law to establish Eurasian Reinsurance Company
The company will provide insurance support for the mutual and foreign trade of Eurasian Economic Union (EAEU) countries, Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. stimulate the development of investment cooperation, and support export loans and cooperation...
Russia-linked hackers give British Airways and the BBC a week to open ransom negotiations
The hacker group, known as Clop, said companies that use the secure file transfer product MOVEit from Progress Software Corp. should email it before June 14 or else it would publish stolen data, according to a statement on the gang’s darkweb page A Russian-speaking...
UK Eyes War-Risk Insurance Scheme for Ukraine’s reconstruction
The danger of war damage, as well as longer-term political and economic instability, have seen the costs of insuring investments in Ukraine shoot up, often pricing out both investors and private insurers. Ukrainian President Volodymyr Zelenskiy has called on allies to...
California insurers’ inability to price risk is causing headaches
State regulations ask wildfire insurers to set rates for annual catastrophic coverage as a fraction of damages accrued over 20 years — without mention of models that can capture the accelerated rate of land use change and development, weather and wind trends or the...
El Nino is back in action, threaten food productions across Asia
Experts say that a strong El Nino could hit sugar production in India and Thailand, and possibly disrupt the sugarcane harvest in Brazil. They also see risks for coffee production in Vietnam, the world's second-largest producer LONDON: El Nino has officially returned...
MS Amlin launches new AI-powered claims triage process to support operational transformation
The new state-of-the art-triage process embeds an artificial intelligence (AI) model, which assesses and assigns claims based on certain criteria and proprietary scoring algorithms, into MS Amlin’s claims workflow LONDON: MS Amlin, the Lloyd’s global (re)insurer,...
FSIB selects Ramaswamy for GIC Re top post, Rajeswari Singh as NIC CMD
N Ramaswamy, general manger, GIC Re Four senior officials who had appeared for the virtual interview are- N Ramaswamy, general manager, GIC Re, Hitesh Joshi, general manger, GIC Re, M Rajeswari Singh, general manger & director, United India Insurance, BS Rahul,...
Geneva Association celebrates its 50th anniversary
Christian Mumenthaler, Chairman of The Geneva Association and Group CEO of Swiss Re, said: “What stands out, above all, is how insurers and reinsurers have dutifully confronted the world’s biggest challenges in the name of building resilience. In the uncertain times...