Speaking in the legislative council, Agriculture Minister Manikrao...
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Indian state Kerala sues Swiss-based Mediterranean Shipping Company, seeks $1.1 billion in compensation over oil spill
On May 25, Liberia-flagged MSC ELSA3 ship travelling from Vizhinjam...
MS Amlin appoints Nicola Harris to lead natural resources
In this role, Nicola will be responsible for leading the efforts of...
Australia to consider banning paying of ransoms to cyber criminals
Asked on ABC television on Sunday whether the government planned to look at outlawing ransom payments to cyber criminals, Australia's Home Affairs Minister Clare O'Neil said "that's correct". "We will do that in the context of … cyber strategy," she said Sydney:...
Insurance contracts have very little option for consumers except to sign on dotted lines: SC
“Such contracts demand a very high degree of prudence, good faith, disclosure and notice on the part of the insurer, being different facets of the doctrine of fairness. Though, a contract of insurance is a voluntary act on the part of the consumer, the obvious...
Lloyd’s picks England for World Cup glory, team’s estimated insurable value at £3.17bn
Research published with the support of the Centre for Economics and Business Research (Cebr) ranks the teams based on the collective insurable value of their players. The assessment of each insurable value comprises a variety of metrics such as wages, sponsorships,...
Irdai proposes allowing insurers to invest in unlisted companies
IRDAI has sent a proposal to the government to allow buying a more than 10% stake in unlisted firms by insurers, using over 10% of the monies lying in their shareholders fund, policyholders fund, or funds maintained by a reinsurance company, according to the two...
African insurers take up climate change fight with $14 bln pledge
The newly created African Climate Risk Facility(ACRF) will provide protection for 1.4 billion people against floods, droughts and tropical cyclones by providing $14 billion of climate risk insurance by 2030 to African sovereigns, cities, humanitarian organizations and...
GIC Re net profit surges 85% to Rs 1,860 crore in Q2 FY2023
Devesh Shrtivastav, CMD, GIC Re GIC Re has performed well in the last couple of quarters, despite uncertain market condition owing to sanction, political upheaval, wear and tear of war crises, and vagaries of climate change. I think, we weathered the Pandemic...
COP27 UN conference- GFIA calls for collective action to prevent loss of life and reduce economic losses
Serving policyholders at all the milestones in their lives, (re)insurers play a crucial role in addressing climate-related risks, primarily through their measuring, pricing and assumption of risk and thus through their payment of insured claims — including life and...
At least 6 dead as 6.3-magnitude earthquake hits Nepal; tremors felt across north India
The National Earthquake Monitoring Centre of Nepal said a 6.6-magnitude quake was recorded at 2.12 am. The epicentre was Doti district. Mild aftershocks were also felt in the Uttarakhand-Nepal region at 3:15 am and 6:27 am. The NCS said the magnitude of the two...
COP 27-World Bank will host facility for climate disaster risk – Malpass
World president David Malpass said announced the new instrument, called the Global Shield Financing Facility, at a meeting with German Chancellor Olaf Scholz, who has spearheaded the effort among G7 members to create a program to give vulnerable countries access to...
Allianz to pause paid Twitter ads for now – spokesperson
German insurer and asset manager Allianz will halt its paid advertising on Twitter for now, a spokesperson said on Monday, the latest in a wave of similar moves by companies in the wake of Elon Musk’s takeover of the social media platform.