Deepak Kumar, senior executive vice president & head -...
Category:
Reinsurance
Latest
80% of Indian marginal farmers suffered crop losses due to adverse climatic events
The findings reveal that the primary causes of crop damage were...
Zurich to increase headcount by 40 % in India
Tulsi Naidu, chief executive officer for Asia Pacific There are...
5 risk trends company directors and officers need to watch in 2020:Allianz
:
• “Bad news” events, impact of climate change, bankruptcies and political challenges have increasing risk implications for directors and officers (D&Os)
• Growth of securities class actions and third party funding globally means litigation against companies and their D&Os is on the rise. US, Canada and Australia see highest activity but these trends are developing around the world
• Profitability of D&O insurance sector impacted in recent years due to increasing competition, growth in lawsuits and rising claims frequency and severity. Further volatility anticipated
Berkshire Hathaway launched Commercial Crime Insurance in Asia
“Corporate fraud is becoming increasingly sophisticated as technology advances at an exponential pace across the globe. Companies now face new threats and are tasked with protecting both traditional and digital assets,” said Scotland Walsh-Riddle, head of Executive & Professional Lines, BHSI Asia. “Our policy is important protection for a company’s balance sheet by both insuring against losses arising from a wide range of threats and providing support to investigate the cause of a loss.”
MS Amlin unveils new operating model and sr leadership team
Under the new structure, MS Amlin Plc will therefore be removed and the corporate entities MS Amlin Underwriting Ltd. (MS AUL), MS Amlin AG (MS AAG), MS Amlin Insurance SE (MS AISE) and MS Amlin Business Services (MS ABS) will be owned directly by Mitsui Sumitomo Insurance (MSI).
Nuclear plants in country safe: Government
Minister of State in the Prime Minister’s Office Jitendra Singh said there was an identification of a malware infection on Kudankulam Nuclear Power Plant (KKNPP) administrative network which is used for day-to-day administrative activities.
Swiss Re outlines strategies for further profitable growth in reinsurance
“We are investing in research and technology to give us an edge in accessing growing risk pools, such as natural catastrophe, and drive forward our Corporate Solutions and Life Capital businesses. The Group’s superior capital strength allows us to capture such opportunities and maintain attractive shareholder returns.“
Boeing settles more than 60 wrongful death cases filed after Lion Air Crash
All the lawsuits have been working their way through the federal court system in Chicago, where Boeing is based, as the company tries to fend off allegations that both crashes were the result of design flaws in its 737 Max aircraft.
Now insurers don’t need a surveyor to settle Cyber,Motor theft,Crop claims:IRDAI
Any claims, in respect of loss or damage to crop, trees, plantations and forests which are covered by the Government sponsored Schemes and ciams under policies of motor vehicle insurance wherein the claim is on account of theft or injury/death to third parties, can be settled without appointing a certified surveyor
Broking houses downgrade stocks of GIC Re & New India Assurance
“Underwriting losses narrowed marginally sequentially to around Rs 1,100 crore. Health (Rs 450 crore, 44.3 percent share) and motor (Rs 270 crore, 26.4 percent share) continue to report highest losses. NIACL continues to write low margin group health and government business leading to higher losses in health,” HDFC Securities said.
Led by India and China,emerging Asia will power global growth:Swiss Re
The main engine of the global economy will be emerging Asia, with near 6% growth in both India and China. The contribution of insurance to resilience will be greatest in this region as well. In China, non-life premiums are forecast to grow by 9 per centin 2020, and life premiums by 11 per cent
GIC Re posts a net loss Rs 486.86 crore in H1 2019-20
The combined ratio of the company is 111.30 per cent in the half year ended Sept30,2019 as compared to 110.30 per cent for the corresponding period of previous year.