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War anxiety grips Davos experts with Ukraine peace still elusive: WEF Survey
“Rising geopolitical tensions, a fracturing of global trust and the...
Gallagher appoints Ajit Horra as its India CEO
Ajit will lead Gallagher’s 180 strong team, which is headquartered...
Investors want $2.5 bln in class action over Bayer’s Monsanto deal
The law firm said that as of Dec. 30, the sum covered lawsuits from about 320 investors, both institutional and retail, that had been filed with the district court in Cologne. This represents a significant jump from the 250-plus investors demanding damages of more...
Insurers have to pay claims for treatment of Covid -19 cases with Omicron variant :IRDAI
The insurance companies have put in place effective coordination mechanism with all their network providers (hospitals) for the purpose of making available seamless cashless facility to all policyholders in case of hospitalisation if any and render speedy services to...
LIC, GIC Re, New India continue to be systematic important insurers, need extra supervision: IRDAI
Domestic systemically important insurers(D-SIIs) are already being subjected to enhanced regulatory supervision as the continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy On Thursday, the...
General insurers settle only third of claim amount due to natural calamities during FY21
Against a claim amount of Rs 2,559.10 crore due to these catastrophic events, the general insurers settled claims worth Rs 760.68 crore (27,576 claims), nearly 30 per cent the claims amount Claims worth Rs 1,705.52 crore are outstanding against a total of 3,428...
Govt inducts three insurers as part time members into BBB
The new members are Usha Sangwan, former MD, Life Insurance Corporation representing the life segment, A.V. Girija Kumar, former CMD, Oriental Insurance Company(OIC), for non-life, Sujay Banarji, former member,(Distribution), for re-insurance or actuarial science New...
Lloyd’s Asia launches new renewable energy consortium
The new consortium has been developed by Chaucer, Markel, and Munich Re Syndicate Ltd (MRSL) and has a maximum working capacity of USD100m per project It is expected that Asia Pacific will continue to outperform other regions as a market for the investment and...
Infectious diseases present ‘clear and present danger’ everywhere:UN
Noting that infectious diseases remain “a clear and present danger to every country”, . Guterres maintained COVID-19 would not be the last pandemic for humanity It means strengthening primary health care at the local level to prevent collapse… ensuring equitable...
Extreme weather events cost the world billions in 2021, shows study
Worryingly such climate devastation is set to continue without action to cut emissions. Insurer Aon warns that 2021 is expected to be the sixth time global natural catastrophes have crossed the $100 billion insured loss threshold. All six have happened since 2011 and...
Sanlam looks for strategic partnership with Allianz in Africa
Allianz makes less than 500 million euros [US$564.1 million] in revenues from its African operations in 2020, but is looking to expand on the continent JOHANNESBURG – African insurer Sanlam Ltd. said on Wednesday it was exploring “strategic alternatives” with...
Phishing victim can’t claim $5 mln loss for money it never ‘held’
The scammers used the log-in credentials to divert about $10 million in payments. However, RealPage quickly detected the swindle and notified Stripe, which was able to stop payment or recover nearly $4 million RealPage reimbursed its client property managers for the...