A few years back, the US watchdog Federal Aviation Administration...
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Reinsurance
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Re/insurers get ready to shell out over Rs1600 crore($186 million) of claims for Air India’s devastating Ahmedabad crash
London market sources said there can be a claim of Rs 700 crore(...
Extreme heat kills half a million people globally each year, says Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist "Extreme heat used...
Prevention measures crucial to tackling risk of battery fires in shipping: Allianz
AGCS analysis of over 240,000 marine insurance industry claims over the past five years (with a value of €9.2bn), shows that fire/explosion (from all causes) is the most expensive cause of loss, accounting for 18% of the value of all claims Singapore: Recent incidents...
Fairfax looks to settle mutual fund cross-holding norms case with Sebi
The capital markets regulator, in October 2021, issued a show cause notice against Fairfax Financial Holdings Limited (FFHL), the ultimate parent entity of Fairfax Group, alleging a violation of mutual fund rules by FFHL, according to the draft IPO documents of Go...
Pakistan’s fatal flooding has hallmarks of global warming:
The recent flood in Pakistan is actually an outcome of the climate catastrophe … that was looming very large. The kind of incessant rainfall that has happened … has been unprecedented,"said Anjal Prakash, a research director at India's Bharti Institute of Public...
Floods, other water-related disasters could cost global economy $5.6 trillion by 2050 -report
Of the five business sectors most vital to the global economy, manufacturing and distribution would be hit hardest by disasters costing $4.2 trillion as water scarcity disrupts production while storms and floods destroy infrastructure and inventory. read more Last...
Major Asia-Pacific reinsurers deliver stable performance on growing competition and uncertainty: AM Best
2022 is shaping up to be another profitable year thanks to benign natural catastrophe activity in the region in the first half of the year for Asia Pacific domiciled reinsurers The accumulation of natural catastrophe risks in Asia-Pacific reinsurers’ home markets...
Asian Markets: Reinsurers grapple with economic challenges and climate risk, says Fitch
Asia-Pacific reinsurers face weather-related catastrophe losses from flooding and drought, such as the major floods in eastern Australia and China in 2022. Reinsurers are re-assessing risk modelling and catastrophe management frameworks to help quantify potential...
Beazley launches Product Recall product in APAC market
The Beazley Manufacturing Risks & Response coverage is an innovative insurance solution that provides what manufacturers need to help protect their business and customers “Our solution includes offerings for any component parts and consumer goods . Adding this to...
A former Swiss Re underwriter wins sex discrimination suit
“We note the tribunal’s conclusions, and we are giving them full and careful consideration,” Swiss Re said in a statement. The firm “does not tolerate discrimination of any kind and is committed to providing an equal and inclusive workplace for all employee A former...
Moderna sues Pfizer/BioNTech for patent infringement over COVID vaccine
Early in the pandemic, Moderna said it would not enforce its COVID-19 patents to help others develop their own vaccines, particularly for low- and middle-income countries. But in March 2022 Moderna said it expected companies such as Pfizer and BioNTech to respect its...
Russian coal exports face European insurance ban
While Russian coal miners started re-directing volumes to Asia long before the ban came into force, the shipowners typically reinsure their risks with bigger providers that can no longer cover such exports. The companies are looking at other options, but those will be...