L to R - PK Arora, Member, IRDAI, T Alamelu, Principal Advisor,...
Category:
Reinsurance
Latest
`IFSCA-IRDAI GIFT IFSC Global Reinsurance Summit’- International reinsurers gather in Mumbai on Monday to brainstorm their India strategies
K Rajaraman,Chairman, International Financial Services Centres...
Climate Risk: Is India Inc moving fast enough?
From a disaster management perspective, parametric solutions can...
UK snack company hit by ransomware attack causing delays
“As soon as we became aware of the incident, we enacted our cybersecurity response plan and engaged a leading forensic information technology firm and legal counsel to assist us in our investigation,” added the British firm, well known for its crisps, or potato chips,...
Hackers target key European fuel-distribution firms
The incidents serve as a reminder of how cyber security is becoming a growing concern across the oil industry. Last year, Colonial Pipeline Co. paid a ransom after a hack forced it to shut the largest fuel pipeline in the U.S., resulting in shortages at filling...
Pace of risks pricing increase in Asia continues to decline in q4 2021
Cyber remained the most challenging coverage area in Asia , driven by ransomware claims, with considerable pressure on pricing and deductibles, a reduction in capacity, and narrowing of key coverages, said Marsh Hong Kong: Insurance pricing in the fourth quarter of...
XL’s India FRB to shut down, to be merged with AXA France’s FRB
-Prior to the global merger- AXA group acquired XL group in 2018- both the groups had their own FRBs in India and are continuing to operate as separate entities in the country till now -IRDA confirms its stand formally to allow only one FRB belonging to the group....
Families of crash victims ask US to reopen Boeing settlement
Last month, the families of more than a dozen passengers filed a motion in federal court in Fort Worth, Texas, alleging that the Justice Department violated a 2004 victims’ rights law by not consulting with them before reaching the settlement, which shielded Boeing...
Insurtech MIC Global receives ‘In-Principle’ approval to establish Lloyd’s Syndicate 5183
Harry Croydon, CEO and president of MIC Global, said: “MIC is a spark for innovation and change in the industry. We envision a world where insurance is accessible to everyone, which means creating new ways of providing coverage by leveraging our technology and...
Today only 18% of insurers are able to optimize data use for competitive advantage: Capgemini
Insurers with non-traditional, real-time data sources such as telematics, wearables and social media data will be able to meet rising customer expectations of convenience, customized advice, and dynamic pricing, and compete with InsurTech companies that are able to...
U.S. crop insurance payouts rise sharply as climate change worsens droughts, floods
Insurance payments to farmers due to drought rose more than 400% between 1995 and 2020 to $1.65 billion, while payments due to excess moisture – like floods - rose nearly 300% to $2.61 billion, according to the nonprofit environmental group, which examined publicly...
Cyber hostilities between India & Pakistan,China & Japan and Israel & Iran could escalate dangerously: CyberCube Report
Report identifies four industries that CyberCube believes will be targeted by cyber criminals – especially ransomware actors – in 2022. These are: healthcare, education, manufacturing and utilities. CyberCube also expects to see ransomware threat actors targeting...
Back in court – UK hospitality groups take on insurers over lockdown losses
Corbin & King, the owner of London's Wolseley and Delaunay restaurants is suing AXA for around 4.5 million pounds in a dispute that hinges in part on the scope of "denial of access" cover, designed to protect insured venues that are shut by public authorities on...