Bridge Specialty Group, a global wholesale and specialty insurance...
Category:
Reinsurance
Latest
General Insurance industry grows 28% to Rs 30,378 crore in Oct
In a note worthy trend, seven stand alone health insurers have now...
Max Life integrates Swiss Re’s ‘Digital Health Underwriting’ solution to elevate the customer onboarding experience
Swiss Re’s DHU solution automates technical underwriting, using...
CNA Paid $40 Million in Ransom After March Cyber Attack
Ransomware attacks — and particularly payments — are rarely disclosed so it’s difficult to know what the biggest ransoms have been. The average payment in 2020 was $312,493, according to Palo Alto Networks, a 171% increase over the previous year. The $40 million payment is bigger than any previously disclosed payments to hackers, according to three people familiar with ransomware negotiations.
Canada unprepared for facing climate change induced mega-hurricane-risk:Swiss-re-
But as ocean surfaces warm, the frequency, duration and intensity of storms increase. That’s extending their range and making Canada, where just one or two tropical cyclones make landfall each year, more vulnerable, according to the Zurich-based company, which provides reinsurance to 15% of the country’s insurance industry.
Italy probes Allianz Direct, Zurich for alleged cartel among automobile insurers
In a statement, the Italian Competition Authority said the companies involved were able to charge consumers higher premiums for automobile insurance policies as a result of the insurers and price comparison companies regularly sharing reports, prepared by the price comparers, of “sensitive information” on the market for auto policies.The probe involves, among others, Allianz Direct, Admiral Intermediary Services, Linear, Genertel, Zurich and price comparison websites such as facile.it.
SDGs: Greater urgency needed to meet environmental goals, improved data likely key
The SDGS are at the heart of the 2030 Agenda for Sustainable Development, which outlines internationally agreed targets in areas such as poverty, hunger, health, climate action, clean energy and responsible consumption.
NOAA predicts another active Atlantic hurricane season
For 2021, a likely range of 13 to 20 named storms (winds of 39 mph or higher), of which 6 to 10 could become hurricanes (winds of 74 mph or higher), including 3 to 5 major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher) is expected.
COVID-19 Pandemic intensifies risk in GCC countries:AM Best
Financing needs will remain acute, as more than USD 100 billion of debt will mature between 2021 and 2025. The region also faces long-term challenges. Despite long-standing efforts to diversify the GCC’s economies, progress has been relatively limited.
Peak Re’s net profit rises 150% to $87.1 million in 2020,combined ratio at 97.6%
On outlook for 2021, LI Tao,chairman, Peak Re said, We expect 2021 to see a rebound in economic growth that will extend into 2022. With the recovery already underway in Asia, we are looking to our Asia Pacific region to continue to outperform other regions and be the growth driver for the broader economy, as well as the insurance industry. This presents significant room for us to further grow in emerging markets where economies are still expanding.As businesses learn to adapt to another “new normal”, the effects of COVID-19 will continue to filter through and impact the future risk landscape.
Bombay High tragedy: Barge Master, others charged with culpable homicide
The development came two days after the police launched its probe based on an accident death report to ascertain why the barge allegedly failed to adhere to safety norms despite warnings of the impending Cyclone Tauktae which wreaked havoc on the country’s west coast last Sunday onwards.
Besides culpable homicide not amounting to murder, the barge Master and others are also charged with common intentions, negligent acts causing hurt to others, etc., said Mumbai Police Spokesperson and Deputy Commissioner of Police S. Chaitanya.
Wildfires, thawing permafrost pose new challenge to curb climate change: Study
As temperatures rise and permafrost thaws, carbon dioxide and methane trapped within the long-frozen soil are released. The deeper the thaw, the more gas is released.
That threatens to create a feedback loop that contributes to even more warming of the atmosphere, scientists warn in a study published in the journal Proceedings of the National Academy of Sciences.
U.K. Flying-Taxi hub aims to develop blueprint for aerial roads
The project, backed by 1.2 million pounds ($1.7 million) of government funds, involves construction of a centrally located hub that will host demonstration flights across the city of almost 400,000 people, according to Ricky Sandhu, founder of Urban-Air Port, which will operate the ground infrastructure.