According to the IRDAI, the broker does not have any right over the...
Category:
Reinsurance
Latest
Demographic reality – a growing elderly population with fewer working-age people
Jad Ariss, managing director of the Geneva Association, said: “The...
Delta plane flips upside down on landing at Toronto airport, injuring 18
U.S. carrier Delta said a CRJ900 aircraft operated by its Endeavor...
U.N. to roll out global early-warning systems for extreme weather
Petteri Taalas, Secretary-General, World Meteorological Organization With the trend expected to worsen as global temperatures continue to climb, "there is a need to invest $1.5 billion" in the next five years to predict when extreme events might occur, said World...
Hackers hit authentication firm Okta, drawing concern across security industry
The screenshots were posted by a group of ransom-seeking hackers known as Lapsus$ on their Telegram channel late on Monday. In an accompanying message, the group said its focus was "ONLY on Okta customers." 'BE VERY VIGILANT' Okta Inc, whose authentication services...
U.S. SEC proposes companies disclose range of climate risks, emissions data
It would also require companies to disclose greenhouse gases generated by suppliers and partners, known as Scope 3 emissions, if they are material or included in any emissions targets the company has set SEC chair Gary Gensler said the agency was responding to...
Insurers face substantial losses from planes grounded in Russia, may lead to hardening of premiums: Fitch Ratings
Multi-billion-dollar aviation insurance claims could have significant knock-on effects on the aviation insurance market. ``We would expect insurers and reinsurers to respond by increasing premiums, incorporating more exclusion clauses in their contracts, and cutting...
GIC Re’s Madhulika Bhaskar appointed as acting CMD of New India Assurance
Madhulika Bhaskar Unlike the old practice, where normally two general managers of a PSU general insurance company, where the vacancy is occurring, are given charge as an interim arrangement till a regular CMD is appointed, this is for the first time, a general manager...
New Zealand enacts a new law to modernise natural hazard insurance
The Bill’s name - Natural Hazards Insurance Bill - recognises the fact that EQC’s mandate extends further than just helping people recover from earthquakes. In fact, its insurance scheme also covers landslips, volcanoes, tsunami and hydrothermal activity. Making this...
Boeing’s tenuous recovery shaken by 737 Jet crash in China
It’s too soon to know what caused the China Eastern accident, and investigations can take months or years to unfold. The lost airplane was relatively young, flying commercially for about seven years. Leading causes of such accidents tend to be maintenance issues,...
Berkshire Hathaway to buy Alleghany for $11.6 bn in return to dealmaking
Warren Buffett, chairman, Berkshire Hathaway Inc Buffett is diving deeper into the world of insurance with the Alleghany deal, an industry that has been key to the growth of Berkshire into a conglomerate with a market value of more than $750 billion With Alleghany,...
Chinese passenger plane with 132 aboard crashes in Guangxi province, no sign of survivors
Broadcaster CCTV said the accident involving a China Eastern Airlines Boeing 737 and occurred near the city of Wuzhou in Teng county. It said rescuers had been dispatched and there was no immediate word on numbers of dead and injured The twin-engine, single aisle...
Russia-Ukraine war: GIC Re cancels war risk covers for Marine Cargo,Hull and Airlines around affected areas , not to re-issue them with higher premiums
Ukrainian and Russian waters in the Black Sea and the Sea of Azov” as one of the listed territories for cancellation of war risk covers by GIC Re GIC Re has a small portfolio of Russian aviation risks for which Notice of Cancellation (NOC) of cover has been...