“Climate-related risks are an immediate concern for financial...
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UP govt sets July 31 deadline for kharif crop insurance; farmers must report damage within 72 hours
Farmers can register through banks, common service centers, or the...
AM Best maintains stable outlook on global cyber insurance segment
The AI-driven proliferation of cyber-attacks also can increase the...
Markel International merges professional and financial risks with an expanded cyber team
The decision to merge the two divisions is part of the wholesale business’ efforts to simplify the trading experience for its broking partners and make its product offerings to insureds as innovative, comprehensive, and relevant as possible, in a fast-moving and...
Maha: Excessive rainfall-affected farmers upset over getting paltry amounts as crop insurance
The state government data also revealed that out of 1.03 lakh farmers who submitted their claims for crop damage due to excess showers in Ahmednagar, only 20,226 claims have been approved so far and Rs 9.78 crore has been disbursed. Mumbai: A number of farmers in...
EU postpones talks on Russian oil price cap as divisions stick
The EU sanctions would bar access to insurance and services for any ship transporting Russian oil. The cap allows access to those services, but only if the crude is purchased below a certain level. The US proposed the price cap earlier this year as an alternative to...
Govt open to making changes in PMFBY in response to recent climate crisis, tech advancement: Agri secy
Manoj Ahuja, secretary,Department of Agriculture and Farmers Welfare ''Since farming is exposed directly to such climatic catastrophes, it is important and critical to protect the vulnerable farming community of the country from the vagaries of nature. the government...
Hard property catastrophe reinsurance market to support 2023 margins: Fitch
Fitch forecasts broadly stable underlying profitability for the global reinsurance sector in 2023, and is maintaining its neutral fundamental sector outlook. Frankfurt/Chicago/London: Reinsurance rates for property catastrophe business should increase by well over 10%...
Global marine industry: Most expensive claims caused by fire and explosion incidents
;The combined value of the global merchant fleet increased 26% to $1.2trn in 2021 while the average value of container shipments has also been rising with more high-value goods such as electronics and pharmaceuticals "The risk of theft and damage to high-value cargos...
Australia’s extreme weather events to worsen as climate warms
In a dire report released Wednesday that will add to pressure on the government to take firmer action on climate change, the Commonwealth Scientific and Industrial Research Organisation and the Bureau of Meteorology said rising greenhouse gas levels are causing the...
Aircraft lessors sue insurers for $6.5 billion over seized Russian planes
More than 400 leased planes worth around $10 billion are unable to leave Russia after European Union sanctions forced the termination of their leases.Lessors argue the aircraft are covered by policies against war or theft, but insurers point out the planes are...
Russia reiterates it won’t sell oil to nations that cap prices
The cap, which is also backed by the European Union, would ban companies from providing services, including shipping and insurance, to Russian oil shipments anywhere in the world, unless it’s sold below the agreed threshold Russia doesn’t plan to supply crude or oil...
At least 250 people killed in Indonesia earthquake, rescue operations underway
The residents were seen scattered through the streets as buildings crumbled, reported Channel News Asia. The tremors destroyed many buildings and were felt in Cianjur in West Java at a depth of 10 km. Hundreds of buildings were damaged, including an Islamic boarding...