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Lok Sabha passes SHANTI Bill to modernise, open up nuclear energy sector for private participation
The Bill introduces an elaborate framework on duties and...
UK specialist re/insurance broker BMS Group strikes strategic partnership with Berns Brett India
Subject to Regulatory approval, Berns Brett India will be rebranded...
Commercial aviation suffers deadliest year since 2018
The spike in fatalities marks a reversal from 2023, which became the safest year ever in aviation with no deaths among large passenger jetliners — typically planes made by Airbus SE and Boeing. Commercial aviation has suffered its deadliest year since 2018 after the...
Govt extends PMFSBY and RWBCIC till FY25-26, sets up Rs 824.77 crore technology fund for crop claim settlement
Prime Minister Narendra Modi For large scale technology infusion in implementation of the scheme leading to increasing transparency and claim calculation and settlement, the Union Cabinet has also approved creation of Fund for Innovation and Technology (FIAT) with a...
2024 Insurance Amendment Bill: Ushering in a New Era in Indian Insurance
Shailaja Lall & Shivangi Talwarer Some clarity has been provided on ‘services related or incidental to insurance business’ under the 2024 Amendment Bill which includes carrying on and transacting guarantee and indemnity business, managing, selling and realising...
20th SIRC-Revolutionise(Re)Insurance
After Monte Carlo Rendez-Vous de Septembre and Baden Baden Reinsurance Meet, the global reinsurance industry has gathered in Singapore for 20th SIRC ,in the 1st week of November, to prepare itself for the Jan 1 renewals. Asia Insurance Post had prepared a special...
South Korea’s Jeju Air crash insured by Samsung Fire & Marine and 4 others, reinsured by AXA XL
The aviation insurance industry could be looking at a claim for about $15-$20 million under the airline hull insurance policy, and total passenger liability claims of $120-$180 million due to the crash, according to Marcos Alvarez, managing director of global...
South Korea orders airline safety probe after worst domestic crash kills 179
Investigators are examining bird strikes, whether any of the aircraft’s control systems were disabled, and the apparent rush by the pilots to attempt a landing soon after declaring an emergency as possible factors in the crash, fire and transportation officials have...
Baden Baden Reinsurance Meet
After Monte Carlo for the Rendez-Vous de Septembre, held in the second week of September 2024, it was turn of Baden Baden Reinsurance Meet, a key event that sets the tone for the industry, ahead of the crucial January renewal season. This year, it happened during...
Fiery crash kills at least 179 in worst airline disaster in South Korea
The ministry also confirmed the casualties in the deadliest air accident involving a South Korean airline in nearly three decades. Video shared by local media showed the twin-engine aircraft skidding down the runway with no apparent landing gear before slamming into a...
Putin apologises to Azerbaijani counterpart for tragic plane crash incident
An official Kremlin statement issued on Saturday said that air defence systems were firing near Grozny airport as the airliner repeatedly attempted to land there on Wednesday. It did not explicitly say one of these hit the plane. Moscow: Russian President Vladimir...
Cat-bond issuance hit a record $50 billion in 2024
Cat bonds continue to pay out more than many fixed-income assets. This year, investors are on track to earn returns of 16%, compared with a record 20% in 2023 Catastrophe-bond issuance rose to a record this year, increasing the overall market to almost $50 billion, as...