Early reports from emergency responders indicate multiple injuries,...
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Chubb releases details structure of the Gulf Maritime Insurance Facility with DFC
The facility will provide war marine risk insurance for hull &...
West Asia Conflict:Trump indicates possible end to conflict,Oil price spike continues
US President Donald Trump ``We are getting very close to meeting...
Saudi Aramco offers Red Sea route option for oil buyers as Hormuz faces lengthy disruptions
The other option is to receive oil from the Persian Gulf, but at the risk of not getting any if the strait remains closed, said the traders. Saudi Arabia is giving long-term oil customers the option of receiving their allocations for April via the Red Sea port of...
Seth to take stock of Bima Sugam with insurers on Tuesday, to discuss launch of standard Health & Motor covers on e-platform
Ajay Seth,chairman, IRDAI ``We are having a virtual conference with insurers and officials of Bima Sugam Federation,wherein details of a standard motor and standard medical policy sold over the platform would be discussed,’’ said the IRDAI sources IRDAI chairman Ajay...
Wartime Marine Risks: Navigating insurance & supply chain disruptions
One of the most common misconceptions during times of crisis is that all stakeholders in the supply chain are automatically aware of evolving risks and that insurance protection continues seamlessly. However, marine insurance operates under specific contractual...
Iran laying mines in the Strait of Hormuz:UK Defense Secretary John Healey
John Healey,UK Defense Secretary The narrowness of the Strait of Hormuz — it is less than 25 miles (40 kilometers) wide at the thinnest point — makes the danger of sea mines more acute, as ships have less room to maneuver and greater odds of striking one of the...
Chubb to be lead partner on US’s $20 billion Maritime Reinsurance Plan
“Together, DFC and Chubb have identified several American insurance companies to provide reinsurance policies behind Chubb and alongside DFC to expand market capacity,” the agency added. US insurance giant Chubb will be the lead partner on the U.S. International...
Shipping in Straits of Hormuz halted due to safety concerns, not insurance,says IUA chief executive
“Most prominent is shipping in the Straits of Hormuz where trade has been halted, not by a lack of available insurance, but by obvious safety concerns. The market for marine war risks is operating in the manner we would expect, given the increase in threats to...
Drone strikes near Dubai airport deepen Gulf aviation chaos
The U.S.-Israel war against Iran has led to tens of thousands of flight cancellations, reroutings and schedule changes worldwide, shutting much of the Middle East’s airspace – including Qatar's – due to missile and drone threats. DUBAI: Two drones fell near Dubai's...
Looking to help exporters at insurance front to deal West Asia crisis: Goyal
``We are looking for developing some new schemes like insurance support… We are consulting ECGC (Export Credit Guarantee Corporation) and other departments on that," Commerce and Industry Minister Piyush Goyal NEW DELHI: Commerce and Industry Minister Piyush Goyal on...
Wedding Insurance:Securing bride’s dream day
In 2024–25, the average Indian wedding cost has risen to nearly ₹30–35 lakh, with families embracing multi-day functions, couture fashion, and immersive décor and destination venues. Financial mindfulness is becoming a natural part of wedding preparation, ensuring...
Indian Non-Life Insurance Industry:Poised for significant growth in FY2026 & beyond
Notwithstanding geopolitical tensions and external headwinds, the Indian non-life insurance sector is projected to grow between 13-15% on an annual basis over the near term as consumer demand rises in step with the country’s economic growth momentum. Sharad Mathur,...