The Bill introduces an elaborate framework on duties and...
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Munich Re and Germany’s KfW Development Bank launch a state-backed geothermal risk insurance
Geothermal power is an abundant energy source that can provide...
Surging travel insurance uptake among Indians:Niyo Data
Asian countries such as Thailand, UAE, Indonesia, and...
Plane with 67 passengers crashes in Kazakhstan, many killed
According to Russian news agency Tass, 32 people have survived the passenger plane crash near Aktau in Kazakhstan, the press service of the Kazakh Emergencies Ministry reported ASTANA: A passenger plane crashed near the city of Aktau in Kazakhstan on Wednesday and...
Spectee expands crisis management system to the Philippines following success in Japan
This system, designed to monitor and manage disasters like earthquakes, floods, typhoons, and criminal accidents, gathers real-time visual and textual information from social media platforms (SNS) and official sources Tokyo: Spectee, a Japanese crisis management...
European Central Bank plans insurance for climate risks
One part of the plan is a voluntary public-private reinsurance mechanism that would pool private risks across the EU to help backstop weather-related losses. The second pillar would be to create a mandatory European Union fund to pay reconstruction costs when...
Catastrophic Insurance: Shielding China’s Uninsured Economy
“Catastrophe risk management falls within the realm of public management. A lack of understanding of that “public nature” in China has led to “a simplistic approach of delegating the job to the insurance industry, which is ill-equipped to shoulder the entire...
US Cyber market-Extortion activity likely reached an all-time high in 2023, says Tokio Marine HCC
In 2024, premium rate change in the US cyber insurance market has fallen to below zero, marking the onset of a soft market. While premium growth stagnated, so did loss ratios, with a 3-point reduction in cyber market loss ratio to 41.6%. Houston, TX: Annual 2024 US...
Hemant Nagpal to head Gallagher Re’s APAC Analytics, Rohan Bhappu to join Howden Asia
Gallagher Re has appointed Hemant Nagpal, an insider, as its head of Analytics, Asia Pacific, with a focus on driving our analytics strategy for the region. Darren Murch will become deputy head of Analytics, Asia Pacific, working closely with Hemant to support the...
ICICI Pru Life Insurance launches women specific critical illnesses cover
ICICI Prudential Life Insurance has launched ‘ICICI Pru Wish’, a first-of-its-kind health product, in the life insurance industry, catering to women specific critical illnesses and surgeries. Developed in collaboration with Reinsurance Group of America (RGA), it...
Lockton unveils new global Parametric Insurance Practice
The parametric insurance market is projected to reach $39.3 billion by 2032, according to Global Market Insights, underscoring the demand for alternative solutions to cover gaps in conventional commercial property insurance KANSAS CITY: Lockton, the world's largest...
India and UK to collaborate on developing financial regulations
Participants from India and UK touched upon reforms in respective financial services sectors including capital markets, insurance & reinsurance, pensions, FinTech, sustainable finance and International Financial Services Centre GIFT City/Gujarat: The 3rd India –...
Hacking rooftop solar can disrupt of Europe’s Power Grid
The exponential growth of rooftop solar systems means millions more connection points to the grid, creating a massive vulnerability that hackers could exploit. The most serious impact may be cascading grid failures across the continent. That risk is a growing concern...