“Cyber Attacks/Data Breach” remains the number one risk across...
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FSIB advertises GIC Re CMD post for both PSU and pvt sector candidates, last date for application is Dec 01
The applicant should have minimum 45 years of age and two years of...
Marsh appoints Andrea Bono as CEO of India, Middle East, and Africa
Andrea Bono, CEO=designate, India, Middle East, and Africa (IMEA),...
Swiss Re closes second alternative capital transaction with J.P. Morgan
Philipp Rüede, Head of Swiss Re Alternative Capital Partners, said: "This deal also represents another important step on Swiss Re's Alternative Capital Partners' journey, where we are increasingly using alternative capital to address our wider capital management...
General insurers likely to end FY 2022-23 with a total prm of over Rs 2.5 trn, Pvt sector players’ market share exceed 60%
Twenty multiline private sector general insurers led by ICICI Lombard General Insurance, have maintained a formidable lead over the four PSU general insurers by recording a total premium of Rs 1,19,561.38 crore, a y-o-y growth of 21 per cent and have already...
India must align with leading global markets in freedom in pricing, coverage, limits and deductibles: RIMS/NIA study
The report provides global benchmarks on proven insurance practices, and discusses critical aspects like customer experiences, seamless claim settlements, and adoption of new technologies. The time is ripe for introducing changes in the insurance industry that will...
El Nino expected to return, likely to fuel spike in global temperatures
La Nina refers to the large-scale cooling of the ocean surface temperatures in the central and eastern equatorial Pacific Ocean, coupled with changes in the tropical atmospheric circulation The El Nino event may develop after three consecutive years of an unusually...
IRDAI now extends ‘Use & File’ procedure to Miscellaneous products with a sum assured up to 5 cr
With this move, all general insurance products, are now permitted to be filed under ‘Use and File’ procedure and can be launched without any prior approval. This will provide the vital fillip to the general insurance companies for a broad-based approach in designing...
Insurers pay Bangladesh owner $22.48 mln after ship explosion in Ukraine
Insurance was provided by Dhaka-based Sadharan Bima Corp. and reinsured through Lloyd’s of London player Beazley and broker Tysers, they added “All the formalities with the reinsurer are done. The amount will be remitted by tomorrow, if not today,” Syed Belal Hossain,...
Apple supplier Foxlink says working to resume production after India fire
Company had said that the site had been blocked off by the fire department and that four production lines were known to be damaged As the plant, equipment and inventory are covered by insurance, the fire has not yet had a significant impact on the company’s finances...
Canopius expands APAC footprint with Melbourne office launch
Canopius will initially underwrite casualty business from Melbourne and broaden its offering as the business grows, with plans already underway to make new hires in the coming year. SINGAPORE: Canopius Group, a leading global specialty (re)insurer, today announced the...
General insurers can’t deny covers for Persons with disabilities, HIV/AIDS and Mental Illness: IRDAI
``The insurers are directed to put in place a board approved underwriting policy immediately that ensures that no proposal from the Persons with disabilities, HIV/AIDS and Mental Illness is denied covers,'' said IRDAI in a circular on Monday Hyderabad: Insurance...
Expected rise in strikes, riots and protests to test business resilience: Allianz
The heightened SRCC risk environment means businesses need to remain vigilant about the different threats such activity can pose. In addition to buildings or assets suffering costly material damage, operations can be severely disrupted, resulting in significant loss...