“We have reports that more ship owners are now exercising extra...
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Helicopter crashes near Kedarnath shrine, all seven on board killed
Rudraprayag District Disaster Management Officer Nandan Singh...
Over 1 100 787s Dreamliners criss-crossing skies a flight path of connectivity, now a crash
A few years back, the US watchdog Federal Aviation Administration...
Volkswagen’s cargo ship fire losses to be at least $155 million: Russel Group
Of the roughly $438 million total value of goods aboard the Felicity Ace, which went up in flames off the coast of Portugal’s Azores Islands,Russell Group said Monday it estimates there are $401 million worth of cars. The consultant estimates auto companies other than...
Fires on vessels still one of the biggest safety issues for shipping industry: Allianz
There was a record 40 cargo-related fire incidents alone in 2019 or one every 10 days. Across all vessel types, the number of fires/explosions resulting in total losses hit a four-year high of 10 at the end of 2020– accounting for around one in five total losses...
Global Covid-19 caseload rises to 422.8 mn, fatalities at 5.88 million
The US continues to be the worst-hit country with the world's highest number of cases and deaths at 78,457,081 and 934,951, according to the CSSE The second worst hit country in terms of cases is India (42,780,235 infections and 510,905 deaths), followed by Brazil...
Govt to launch ‘Meri Policy Mere Hath’, to deliver crop policies at farmers doorstep
Pradhan Mantri Fasal Bima Yojana (PMFBY) enters its 7th year of implementation Over 36 crore farmer applications have been insured under PMFBY Over Rs. 1,07,059 crores of claims have already been paid under the scheme Around 85% of the farmers enrolled with the scheme...
SC sets aside SAT’s “aiding and abetting corruption’ remarks against former IRDA member Joseph
Aggrieved by a SAT order, the IRDAI and its former member PJ Joseph had filed an appeal in the SC ,which the insurance regulator claimed was issued without giving it a proper hearing. The other parties in the long drawn case are few insurance brokers including Atkins...
Allianz announces big bonus cuts for its CEO and board
The collapse of a $15 billion set of investment funds during the pandemic market turmoil in early 2020 has cast a shadow over Germany's most valuable financial firm and one of the world's largest asset managers. Baete's pay package in 2020 totalled 6.39 million euros,...
Cargo ship with Lamborghinis, Porsches, Audis aboard drifts in Atlantic
An internal email from Volkswagen's U.S. operations revealed there were 3,965 Volkswagen AG vehicles aboard the ship. Headquartered in Wolfsburg, Germany, the group manufactures its Volkswagen brand, as well as Porsche, Audi, and Lamborghini- all of which were in tow...
No group can have more than one FRB in India:IRDAI
Till recently AXA group had only two separate branches, XL Se India branch and AXA France India branch and IRDA had asked the group to wind up operation of one of its branches Hyderabad: The insurance regulator IRDAI, after allowing overseas reinsurers to set up...
Global insurance market sees higher M&A deals in 2021 despite pandemic: Clyde & Co report
The pandemic has accelerated innovation in the industry with re/insurers prepared to buy, fund or partner with the technology companies that can help provide product innovation and greater agility to deliver a competitive advantage, said the Clyde & Co. report,...
Climate migration fuels conflicts in Bay of Bengal region
Disastrous floods, deadly heatwaves and devastating cyclones are taking a heavy toll in the Bay of Bengal region, which covers more than 2 million sq km (772,204 sq miles) - impacting Bangladesh and parts of Sri Lanka, Indonesia, Myanmar and India Military and civil...