The team will sit within Miller’s Professional & Financial...
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Govt wants insurance payouts to replace its compensation in managing natural disasters: DFS Secy
L to-R-Hitesh Kotak, Chief Executive, Japan, India, Korea, and...
AXA XL Insurance appoints Sylvie Gleises as Regional Chief Executive Officer, Asia
Sylvie Gleises as Regional Chief Executive Officer designate), AXA...
Australia finalises $10 billion cyclone Reinsurance Pool
The pool is expected to reduce insurance premiums by up to $2.9 billion for eligible household, strata and small business insurance policies over 10 years Homeowners in northern Australia with the most acute cost pressures are expected to benefit from up to 46 per...
Global Nat Cat insured losses at $116 billion in 2021, more than 60% higher than average: Gallagher Re
By region, North America accounted for the largest proportion of the loss at 68%, followed by Europe, Middle East & Africa at 23%, Asia Pacific at 8% and Latin America and the Caribbean at 1%. By peril, tropical cyclones were the most impactful, responsible for...
Ukraine in focus for Olympics insurers as Beijing Games kick off
If there is war between Russia and Ukraine, teams and broadcasters could also suffer war-related losses themselves, as war involving the five so-called "superpowers" of the United States, Britain, France, China and Russia is often excluded from cancellation policies,...
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...