A more advanced and concerning development is emerging: AI agents...
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War anxiety grips Davos experts with Ukraine peace still elusive: WEF Survey
“Rising geopolitical tensions, a fracturing of global trust and the...
Gallagher appoints Ajit Horra as its India CEO
Ajit will lead Gallagher’s 180 strong team, which is headquartered...
Aon report highlights a path toward “The New Better” in wake of COVID-19 Pandemic
Study shows global shift in attitudes of leading organizations toward long-tail risks and the impacts on how society will continue to work, travel and convene
More than 130 organizations across multiple industries and four continents in 10 cities participated in coalition meetings, sharing best practices and outlining new priorities to accelerate economic recovery
Cyber insurance shifting into personal lines as consumer interest rises in UK:GlobalData
Daniel Pearce, Senior Insurance Analyst at GlobalData, comments: “The need for cyber insurance policies has long been identified in the commercial space, where reliance on technology for day-to-day business activities has grown at an exponential rate. However, individuals have also become increasingly dependent on technology. With their exposure to cyber risks growing, the personal cyber insurance market is burgeoning.”
Covid 19 Pandemic to hit life insurers’ investment income,ULIP and Pension and Annuity business:LIC Chief
TR Alamelu, member, IRDAI explained that that the solution to the issue of under-insurance in the country does not lie in mandating insurance because a stage has been reached where insurance should be a product on “demand” and It cannot be forced upon consumers by the industry or other stakeholders.
Global reinsurance sector outlook stable on hardening market:Fitch
Changes in reinsurance terms and conditions, notably the exclusion of pandemic cover in new and renewed contracts, should progressively reduce the potential for future property and casualty reinsurance claims stemming from the pandemic. Nevertheless, the uncertainty around ultimate losses from the pandemic remains high.
Re/Insurance firm Vantage announces launch
Hendrick said, “2020 has reinforced the riskier nature of our world and the re/insurance markets. Risk changes constantly, and we in the insurance industry must demonstrate our ability to evolve with it, to offer clients coverage that meets their current challenges. To do that, we brought together some of the brightest, most experienced minds in re/insurance to approach the new world of risk in a fresh way — with curiosity at its core and creativity as its engine. At Vantage, we will address the risks others avoid with smart technology and robust analytics.”
Reinsurer Conduit rises 5% after pricing $1.1 billion London IPO
Insurers and reinsurers have faced hefty claims in relation to the coronavirus pandemic.
But this has also encouraged new and returning players into the market, who can capitalise on rising premium rates without the burden of existing loss-making business lines.
Inigo Insurance Group to start underwriting at Lloyd’s in January
“The Lloyd’s market promises to be an exciting place in 2021 and I am delighted we are going to be a part of it. This is a great opportunity to build a highly focused business, which attracts good underwriters and gives them the freedom, and the tools to succeed,” he added.
30 named storms: Record Hurricane Season in US comes to a close
The season also saw the second-highest number of hurricanes on record after 13 of the storms reached hurricane status. There were six major hurricanes with top winds of 111 mph (178 kph) or greater. NOAA said an average season has 12 named storms, six hurricanes and three become major hurricanes.
Rusty pilots making flying errors is next aviation headache
“Regular flying keeps your mind in the cockpit,” said Mohan Ranganathan, an aviation safety consultant who was an adviser to India’s Directorate General of Civil Aviation. “Being away from flying for such a long time brings in some complacency. Add loss of income, uncertainty about jobs or the future of the airline, that brings in additional stress. With an increase in stress levels, proficiency drops.”
Markel Singapore appoints Marine Underwriter
Before joining Markel, she was an underwriter at MS Amlin where she was responsible for underwriting a P&I portfolio. Prior to that, she was at Charles Taylor developing its P&I portfolio