Indian airlines have informed the insurers including New India...
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Markel launches Clinical Trials product to support clinical trials research globally
“Clinical trials insurance is a regulatory requirement in many...
Chaucer launches affirmative AI liability cover
As AI adoption continues to surge, AI incidents have spurred over...
MS Amlin AG to rebrand as MS Reinsurance
London: MS Amlin AG today announced its rebrand to MS Reinsurance, An MS Amlin AG Company. The name change, which will occur during September 2022, reflects parent company MS&AD’s commitment to building a leading, globally diversified reinsurer. MS Reinsurance...
MOODY’s unveils new ESG insurance underwriting solution for P&C insurers
As insurers are seeking to measure the ESG impact of their portfolio, alongside the assessment of traditional insurance risks, this new offering is a great example of how our integrated risk-assessment strategy helps meet our customers’ needs,” said Colin Holmes,...
”Unique confluence of market uncertainties” tocharacterize the renewals: Aon
Investors and reinsurers are consequently reassessing their view of risk and appetite for natural catastrophe exposures, as macroeconomic conditions drive insurers to seek additional risk transfer capacity, resulting in a supply / demand mismatch that will continue...
Insurers receiving claims for damaged vehicles due to floods in Bengaluru
Majority of claims would be related to vehicle damage. Bengaluru: Insurance companies have started receiving claims for the vehicles damaged due to floods in India's IT hub Bengaluru. Incessant rain and and consequent waterlogging in many parts of the city led to...
MS Amlin strengthens its Singapore team with six new hires
The new appointments will bolster MS AAP’s underwriting and claims expertise, with four hires to the Reinsurance division and an additional hire to the Political Violence, Trade Credit and Political Risks team London: MS Amlin Underwriting Limited (MS AUL), the...
SC rejects Bagic’s plea against Bombay HC order on crop claims
Earlier, the top court had on June 16 stayed a Bombay High Court order which asked Bagic to compensate over 3.5 lakh farmers under the PMFBY for the loss of soybean crop due to heavy rainfall in 2020.The vacation bench had asked the insurance company to deposit Rs 200...
Industry headwinds fail to dampen ILS Success, Aon Report
The study reveals that ILS capital remained relatively stable at $95 billion through June 30 – a reduction of approximately 2 percent relative to the $97 billion recorded in the prior-year period. CHICAGO: Aon plc in its annual report, published today, about the...
Global reinsurance capital down, profits and solvency up at H1 2022: Gallagher Re Report
Total global dedicated reinsurance capital of $647 billion at the half year reflects a decrease of $82 billion versus the end of 2021. The most important driver is $78 billion of realised and unrealised investment losses due to the sell-off in fixed income and equity...
Floods in Pakistan cause economic loss to the tune of USD 12.5 billion
Poverty and unemployment will go up manifold from 21.9 per cent to over 36 per cent. Some 37 per cent population was hit by poverty after floods in 118 districts, as estimated by the Pakistan government Islamabad: The estimated economic loss to Pakistan from floods...
South Korea is bracing for the strongest storm in the nation’s history
Hinnamnor is forecast to be even more destructive than Typhoon Sarah in 1959, according to the meteorological administration. That storm killed more than 600 people and injured 2,533, and caused 249 billion won ($180 million) in property damage, according to the...