The committee, headed by Union Home Secretary Govind Mohan, is...
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Ships warned to avoid Red Sea, log Hormuz voyages after Israel hits Iran
“We have reports that more ship owners are now exercising extra...
Helicopter crashes near Kedarnath shrine, all seven on board killed
Rudraprayag District Disaster Management Officer Nandan Singh...
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...
G7 finance chiefs agree on Russian oil price cap but level not yet set
The cap would rely heavily on denying London-brokered shipping insurance, which covers about 95% of the world’s tanker fleet, and finance to cargoes priced above the cap. But analysts say that alternatives can be found to circumvent the cap and market forces could...
Globally majority of those impacted by floods uninsured: Swiss Re
This year heavy rains have triggered floods that inundated cities in China and South Korea and disrupted water and electricity supply in India, while drought has put farmers’ harvests at risk across Europe Insured losses from floods doubled to $80 billion globally...
IRDA allows agents, brokers and other intermediaries to be on boards of insurance companies
The proposed director should not not be working in the capacity of the chief insurance executive / specified person or any other officer responsible for soliciting insurance business for or on behalf of the insurance agent, intermediary or insurance intermediary while...
Pakistan could have averted climate catastrophe that has killed over 1,000
The infusion of $1.16 billion by IMF might help unlock enough cash to get the country through the next couple of years — but the floods themselves have caused more than $10 billion of damage, much of which will end up boosting the country’s $255 billion in debt. If...
Wildfire, floods don’t need to turn into disasters: UN risk report
“Disasters occurring in completely different parts of the world at first appear disconnected from each other. But when you start analyzing them in more detail it quickly becomes clear that they are caused by the same things, for example greenhouse gas emissions or...