In a 2023 safety report, the Civil Aviation Authority of Nepal...
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Helicopter with 5 people on board crashes in the mountains northwest of Nepal’s capital
The four passengers are Chinese nationals, and the pilot is a...
Missile attack by Yemen’s Houthi rebels hits container ship in first attack in 2 weeks
The killing of Haniyeh in Tehran has sparked concerns of a new...
Busy Atlantic hurricane season predicted for 2020
HOUSTON: U.S. forecasters expect an above-normal 13-19 named storms during the 2020 Atlantic hurricane season, the National Oceanic and Atmospheric Administration’s (NOAA) Climate Prediction Center said on Thursday.NOAA forecasters estimate three to six...
Brazil reinsurer IRB eyes acquiring foreign competitors’ portfolios:Report
With the region’s economy side-swiped by the coronavirus-linked economic crisis, some global reinsurers are leaving or decreasing operations in Latin America to focus on their main markets in the United States and Europe, one source said, without revealing names.
UK’s Aviva expects COVID-19-related claims of nearly $200 Million
Aviva said on Thursday the “vast majority” of its commercial policies did not cover business interruption claims arising from COVID-19, but it had paid some claims in Britain and Canada where cover was in place.
Confirmed Pakistan’s Airbus A320 Jet Crash death toll at 97 – airline CEO
Airbus said the jet first flew in 2004 and was fitted with engines built by CFM International, co-owned by General Electric and France’s Safran.
Australia clamps down on litigation funders following surge in class action lawsuits
Litigation funders provide financing for lawsuits in exchange for a share of any settlement or judgment. If the litigant loses, it does not have to repay the financial investor.
IRDA asks insurers to settle Amphan claims expeditiously
There is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims, said IRDAI
IRDA to revamp Trade Credit Insurance regulations,to make it more MSME friendly
In the Indian context, the present guidelines on TCI, issued in 2016, do not allow the insurance companies to offer full fledge benefits that provides much needed protection to suppliers and restricts TCI covers to banks and financial institutions.
With the Govt. of India’s initiative to improve businesses for the MSMEs, which are considered as the backbone of the national economic structure, it is also imperative to relax the trade credit insurance guidelines to support the business environment.
COVID-19 to accelerate use of drone technology among insurers, says GlobalData
Drone technology will become more widespread in insurance as natural disasters hit different geographies. Climate change has worsened extreme weather conditions such as hurricanes, floods, and tsunamis as well as non-weather natural disasters like earthquakes, volcanoes, and wildfires. After a disaster during the lockdowns, home insurers can use drones to inspect properties while still social distancing.
Few Coronavirus liability lawsuits have been filed thus far in US
There are 197 class actions, largely brought by consumers, stemming from disputes over insurance, lending, tuition and ticket refunds.
“The idea of a mountain of liability is grossly exaggerated,” said Paul Bland, the executive director of Public Justice, a litigation advocacy group.
Odisha, Bengal brace to fight cyclone Amphan amid Covid crisis; NDRF deployed
The cyclone, according to an IMD report, has intensified into a very severe cyclonic storm over the Bay of Bengal. It is likely to make a landfall somewhere between Digha in West Bengal and Hatiya Islands in Bangladesh on Wednesday.”The trajectory is mostly towards West Bengal, Sagar Islands and probably towards Bangladesh…. But we have to watch the trajectory very closely. NDRF has deployed the teams well in advance. They are either deployed or moving towards the destination,” S N Pradhan, the chief of National Disaster Response Force (NDRF) said in New Delhi.
As it rolls in towards the Indian shores ominously, the cyclone is likely to unleash heavy rain and high-velocity winds in large swathes of coastal Odisha and West Bengal.