One of the most common misconceptions during times of crisis is...
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Reinsurance
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Iran laying mines in the Strait of Hormuz:UK Defense Secretary John Healey
John Healey,UK Defense Secretary The narrowness of the Strait of...
Chubb to be lead partner on US’s $20 billion Maritime Reinsurance Plan
“Together, DFC and Chubb have identified several American insurance...
Some tankers in Mediterranean Sea visiting Russian ports hit by mystery explosions
“All the indications are that these have been deliberately orchestrated, but it’s with a significant degree of sophistication,” said Munro Anderson, head of operations at Vessel Protect, a major war-risk insurer of ships. “So, the big question that leads to is: ‘by...
Deadly airline crashes tarnish industry’s sterling track record
And although the recent string of accidents may be statistical anomalies, they’re still startling given how US commercial passenger carriers had enjoyed years without a fatal crash, said Kristy Kiernan, a safety expert and associate professor at Embry-Riddle...
IRDAI imposes Rs 1cr fine on UIB Insurance Brokers for flouting premium remittance rules
According to the IRDAI, the broker does not have any right over the insurance premiums so that the amounts are timely remitted to the respective parties to ensure the coverage and payment of claims and thus protect the interest of the policyholders. These are the...
Demographic reality – a growing elderly population with fewer working-age people
Jad Ariss, managing director of the Geneva Association, said: “The longevity revolution is one of the defining challenges – and opportunities – of our time. Insurers are uniquely positioned to help people navigate longer lives. This will require bold innovation and...
Delta plane flips upside down on landing at Toronto airport, injuring 18
U.S. carrier Delta said a CRJ900 aircraft operated by its Endeavor Air subsidiary was involved in a single-aircraft accident with 76 passengers and four crew members on board. TORONTO: A Delta Air Lines regional jet flipped upside down upon landing at Canada's Toronto...
Aon appoints Jennifer Richards as CEO of Asia Pacific
Jennifer Richards, CEO designate, Asia Pacific, Aon "The Asia Pacific region is critical to Aon's strategy, representing significant growth opportunities across a diverse market," said Lori Goltermann, CEO, Asia Pacific, Aon DUBLIN: Aon plc today announced that...
Sompo Holdings establishes global Property and Casualty (re)insurance, and Wellbeing business segments
Sompo Wellbeing will work as one group to create products and services addressing challenges related to health, financial stability after retirement, and nursing care needs. These are all prominent challenges in Japan due to the country’s ageing population and...
Willis and Global Parametrics deliver new parametric solution to coffee farmers in Vietnam
If the rainfall dips below predefined values, the insurance is triggered and the farmers receive timely payouts without the need for lengthy claims processes or on-the-ground assessments Singapore: Willis, a WTW business, and Global Parametrics today announced the...
IFSCA cancels license of Prowess Insurance Brokers
GIFT City based the IFSCA has cancelled the license granted to Prowess Insurance Brokers Pvt. Ltd. (PIBPL), to operate a Branch office in GIFT IFSC as IFSC Insurance Intermediary Office (IIIO). The action is taken in light of non-compliance with directions...
Convex enters Lloyd’s with Syndicate 1984
Syndicate 1984 will be led by active underwriter, Jacqueline Wiffen, UK CUO for insurance at Convex, and has an initial target to underwrite £150m of gross written premium in 2025 London: Convex Group Limited (“Convex”), the international specialty insurer and...