Such vessels are not regulated or covered by conventional Western...
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Govt forms high powered panel to revamp pricing and reinsurance mechanisms for PMFBY
The committee will be chaired by additional secretary (Crop...
Allianz scraps nuclear, military exclusions to back Europe’s rearmament drive
AGI wrote to its clients late last week to advise that its...
UK tables ‘world-first’ online safety law in Parliament
Nadine Dorries,UK Digital Secretary The Online Safety Bill has been dubbed a milestone in the fight for a new digital age, which will hand the country’s communications watchdog the power to fine or even ban offensive websites. It is also designed to protect children...
Reinsurers return more capital on very strong 2021 results: Fitch
The strong increase in earnings in 2021 allows reinsurers to overcompensate for a rise in excess mortality losses linked to Covid-19, above-average natural catastrophe claims and a lower investment income Paris/Frankfurt: The four major European reinsurers – Hannover...
Market volatility is Ukraine war’s main risk for European insurers: Fitch
``We estimate that global reinsurers’ coverage of risks in Russia typically accounts for less than 2% of their gross written premiums (GWP). The exposure is mostly from specialty lines, such as energy, marine and aviation, typically written through Lloyd’s of London...
Magnitude 7.3 Earthquake hits Japan’s Fukushima area, triggers a tsunami advisory & disrupts power in Tokyo
Tokyo Electric Power Co. said more than 2 million buildings, including around 700,000 in Tokyo, lost power. No irregularities have been found at its Dai-ni nuclear power plant in Fukushima, while the Dai-ichi plant is still being checked, Chief Cabinet Secretary...
Bermuda suspends permits for Russian-operated planes over safety oversight concerns
Of the nearly 1,000 planes in the Russian fleet, 745 were registered in Bermuda, aviation consulting firm IBA said on March 1. Of those, 713 were leased and 32 owned Russia's government said on Thursday it had proposed allowing foreign planes leased by Russian...
Air Lease says Russian law on leased jets could help in claiming insurance
"It (the law) helps the insurance question because it demonstrates the intent to confiscate which is, I think, a critical aspect of our war-risk insurance," Air Lease chairman Steven Udvar-Házy said on Wednesday The new law allows Russian airlines to place airplanes...
Munich Re announces withdrawal from Russian business
“Existing contracts in Russia and Belarus will not be renewed,” the Munich-based company said on its website Wednesday. The same applies to Munich Re's investments in the region Exceptions will only be made if ending business “would negatively affect persons or...
Your connected car knows you. The tussle for that data’s hitting high gear
Companies in Europe and beyond are vying for control of the crown jewels of the connected car era: your vehicle’s data “If you don’t have access to data in the future, eventually you’ll be squeezed out. You’ll not be efficient, you’ll not have the right services, you...
Lloyd’s of London fines Atrium Underwriters over $1 mln for ‘Boys’ Night Out’ bullying
Lloyd's said in its "notice of censure" that Atrium failed to take adequate steps to deal with an employee's "systematic campaign of bullying against a junior employee over a number of years" and failed to notify Lloyd's of the case LONDON: Lloyd's of London has fined...
MS Amlin expands in Asia Pacific with double hires
Will Ho, CEO, MS Amlin Asia Pacific Pte Ltd, commented: “We are committed to growing our presence in the Asian market by investing in talented individuals London: MS Amlin Underwriting Limited (MS AUL), the Lloyd’s global (re)insurer, today announces the appointments...