``According to our modelled peak-loss scenario, insured losses...
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West Asia Crisis: Higher underwriting uncertainty in global terrorism and political violence insurance markets
For insurers and reinsurers, the key issue is not only the...
Lloyd’s to continue providing cover for vessels traveling through Strait of Hormuz
Shippers seeking insurance for tankers going through the strait “is...
SBI Gen pays its first parametric claim of Rs1.06 cr for Nagaland’s natural disaster losses
“Our parametric insurance model ensures that financial assistance reaches the affected communities and regions without delays, helping strengthen resilience against natural disasters. As climate variabilities increase, parametric insurance plays a vital role in...
200 aircraft leased out from Gift City: Civil Aviation Minister Naidu
India had 340 aircraft in 2014 and that number has increased to 840 and airlines have placed orders for 1,700 planes. "We are bringing a law to ratify Capetown Convention which will reduce the leasing costs by 8-10 per cent. The reduction in leasing costs will trickle...
Insurance industry not expecting any large claims out of earthquake damages in Myanmar and Thailand
This is a significant human tragedy. Unfortunately, there will be a notable protection gap highlighting the continuing need to bring more insurance capital into emerging markets. In comparison to primary perils such as typhoons and floods, earthquake risk in Thailand...
Over 4.6 crore farmers got IDs under digital agri mission :Chouhan in RS
Union Agriculture Minister Shivraj Singh Chouhan As many as 7,708 lakh farmers have so far received insurance cover under the PM Fasal Bima Yojna and farmers have received claims of Rs 1.74 lakh crore since 2016 under the scheme which has now emerged as the world's...
IRDAI rejects appeal of general insurers and CBRs to review its collateral based cross border reinsurance norms
Indian general insurers, which will be generating a premium of over three lakh crore rupees in Fy 25, in their detailed representation to the IRDAI, explained that the proposed regulations are reducing choice for the insurers, reducing reinsurance capacity for the...
India denies entry to Russian oil loaded ship over documentation, sources say
The vessel has protection and indemnity (P&I) insurance cover from Russian company Soglasie.Indian refiners buy Russian oil on delivered basis with ship, insurance and other servics arranged by the seller. NEW DELHI: Indian port authorities denied entry to an...
Insurers increasingly tap AI to tackle surging Cat losses
Risk experts are increasingly using AI to crack an especially intractable challenge: modeling hailstorms, thunderstorms and tornadoes, collectively known as severe convective storms, or SCS. Insured losses from SCS events totaled $61 billion in 2024, the...
Disaster is directly linked to climate change: Amit Shah
This Bill does not infringe on the federal structure. The primary responsibility for disaster management lies with the District Disaster Management Authority (DDMA), which operates under the state government,” Union Home Minister Amit Shah New Delhi: Union Home...
Singapore general insurance premium rises by 6.3% to S$10.8 billion in 2024, Underwriting profit grows by 5.6% to S$642.31 million
“The general insurance sector is operating in an increasingly complex and fast-evolving risk environment. From climate-related disasters to rising medical costs and economic volatility, insurers today must navigate a rapidly changing landscape,” said Mr. Ronak Shah,...
Fidelis Partnership launches international casualty MGA Sevanta
Sevanta will focus on niche international specialty liability, writing business on both a primary and excess basis across a global portfolio Pine Walk Capital Limited, the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership, is pleased to...