“In addition to cyber incidents as the top risk in India, the...
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Allianz Risk Barometer 2025: Business interruption top business risk in Asia
Christian Sandric, Regional Managing Director of Allianz Commercial...
LA blaze damage likely to be largest wildfire insured loss in US history
Estimating insured losses is difficult given that fires are not...
Marsh raises stake in its India JV to 92% from 49%
Though the financial details have not ben disclosed Marsh has informed that as part of the transaction, which has been approved by the IRDAI, it has acquired the share from local partners, including the entire shareholding of the Rampart Trust Earlier, other global...
Philippine supertyphoon Rai ‘exceeded all predictions’ – forecaster
While it's unclear exactly how global warming is affecting the intensification of such storms, the UN's climate change agency has found it is "likely that the frequency of rapid intensification events have increased over the past four decades" as temperatures rise....
Govt appoints non-official directors on boards of NIA,GIC Re and OIC
However, the ministry of finance has not selected any body for the IPO bound Life Insurance Corporation(LIC) which has provisions for two independent directors New Delhi:The government has appointed independent directors on board of various public sector insurance...
Curious case of IRDAI allowing Share Premium as equity capital for ITI Re
"By no stretch of imagination that the share premium amount be taken into account as part of the minimum paid up capital requirement of an insurance or reinsurance company either under the Insurance Act or the Companies Act," D Varadarajan, a Supreme Court lawyer...
Typhoon Rai weakens after pummelling central Philippines
Rai, which at one point intensified into a category 5 storm, the highest classification, toppled power and communication lines, complicating disaster response and efforts to collect information from typhoon-hit areas "It is not expected to cause massive damage...
Swiss Re appoints Pravina Ladva as Group Chief Digital & Technology Officer and reorganises Group Operations
Pravina Ladva, Group Chief Digital & Technology Officer, Swiss Re All technology-related responsibilities of Swiss Re will be bundled under the leadership of Pravina Ladva Zurich: Swiss Re announced today the appointment of Pravina Ladva as Group Chief Digital...
Insurance industry joins initiative for decarbonising global shipping
"The disclosure framework provided by the Poseidon Principles will enable us to credibly report our progress towards net-zero insurance using granular marine data," Patrizia Kern, marine head at Swiss Re Corporate Solutions, said in a statement Other insurers and...
Tesla hit by string of US sex harassment lawsuits
"Tesla's factory floor more resembles a crude, archaic construction site or frat house than a cutting-edge company in the heart of the progressive San Francisco Bay area," several of the suits claim The lawsuits -- filed within a month of two others -- add to the...
Volatile markets, US lawsuits, ESG issues and SPACs create new risks for managers:Allianz
“The actions and culture of organizations and their directors and officers are coming under heightened scrutiny from a wide range of stakeholders, with litigation risk a primary concern,” says Shanil Williams, Global Head of Financial Lines at AGCS London/New...
HSBC says clients must have plan to exit coal by end-2023
Under its plan, HSBC will cut exposure to thermal coal financing by at least 25% by 2025 and 50% by 2030, although non-EU or non-OECD-based clients could be funded until a global phase-out by 2040, its sustainability chief told Reuters HSBC said its new policy would...