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Closing Crisis Protection Gap: Leaders call for 10 fold higher finance to meet cost of future crises
Less than $1 of every $5,000 of crisis finance goes to low income...
Lloyd’s appoints Alexandra Cliff as Chief Financial Officer
Alexandra Cliff Chief Financial Officer-designate, Lloyd's Alex has...
UK ship insurer withdraws cover for two Russian container ships
The world’s biggest container shipping lines on Tuesday temporarily suspended cargo shipments to and from Russia in response to Western sanctions on Moscow in a further blow to trade with the country British ship insurer West of England has withdrawn cover for two...
Climate change to uproot millions, especially in Asia:
By one estimate, as many as 40 million people in South Asia may be forced to move over the next 30 years because of a lack of water, crop failure, storm surges and other disasters No nation offers asylum or other legal protections to people displaced specifically...
UK shuts out Russian companies from aviation insurance market
The move will leave Russian commercial airlines scrabbling to get cover elsewhere. Industry sources say this could include from Chinese reinsurers, while other western insurers are likely to hold back from the business, fearful of other countries imposing similar...
HDI Global supports customers with tailormade Cyber Security services for protection against cyber-attacks
Hannover: HDI Global places protection against cyber-attacks at the centre of services for its customers. The focus here is on cyber risk management. Alongside conventional risk transfer, the industrial insurer will now...
Russian cyberattacks may test insurer war exclusion policy language: Fitch
Larger insurers have taken significant pricing and underwriting actions in response to rising cyber claims in recent years, including tightened contract language, which should help mitigate underwriting losses in the current uncertain environment, Fitch Ratings says...
Maha, MP, Odisha suffered most from extreme weather in 2021: IMD chief
Indian Ocean is the fastest warming ocean basins in the world, and this will have serious impacts on the South Asian region. Heavy rainfall and flood-related incidents last year had claimed over 750 lives across the country, with Maharashtra recording the highest...
New India in talks with GIC Re and global reinsurers place Rs 43,000 cr nuclear plant cover
Industry sources point out that placement of the KKNNP insurance has to be completed soon as the reinsurance market has shown hardening tendency in view of Russian invasion of Ukraine that has started impacting the reinsurance rates Mumbai: With the...
AM Best downgrades Russian insurers Ingosstrakh and SOGAZ
These credit ratings have been placed under review with negative implications due to heightened geopolitical, economic and financial system risk in Russia, where both Ingosstrakh and SOGAZ is domiciled and underwrite the majority of their business, said AM Best...
Russian ransomware attacks on Ukraine muted by leaks, insurance woes
One reason for that could be a loophole in cybersecurity insurance policies. Experts and industry-watchers say the more sophisticated digital extortion gangs tend to focus on insured organisations because the victims already have a policy to make the payoff, making...
UN climate report urges world to adapt now, or suffer later
While governments need to drastically curb their emissions to prevent runaway global warming, they can also work to limit suffering by adapting to the conditions of a warmer world, the report says. That will take a lot of money - to finance new technologies and...