Wolfgang Prock-Schauer, former managing director, Go First From...
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Lockton acquires Arihant Insurance Broker, receives IRDAI approval
Lockton, the world's largest independent insurance brokerage, had...
At least 50 Indian flights receive bomb threats; 2 diverted on Sunday
In 14 days, more than 350 flights operated by the Indian carriers...
U.S. insurers use lofty estimates to beat back coronavirus claims
The industry has warned it could cost them $255 billion to $431 billion a month if they are required, as some states are proposing, to compensate firms for income lost and expenses owed due to virus-led shutdowns, an amount it says would make insurers insolvent.
Job loss most severe immediate impact of COVID-19: Survey
The preliminary results showed that loss of employment was considered as the most severe immediate impact of the crisis while lower economic growth and rise in inequality were probable long-term impact.
As per the survey, the immediate policy priorities suggested were protection of workers and families, short-term employment creation and income transfers to affected workers.
RBI wants banks to overhaul their risk management system
The banks have to establish effective communication/coordination with the audit committee to facilitate the exchange of information, effective coverage of all risks, including emerging risks,reputational risks and any needed adjustments to the risk governance framework of the bank,.
Aon’s partners with GK8 for providing insurable digital-asset storage tech
“We have worked hard to demonstrate the validity of GK8’s solution to insurers so that the company’s clients can benefit from pre-negotiated insurance coverage to protect the digital assets in their care, custody, or control,” says Tom Davis, Client Director of Aon UK Ltd.
Lloyd’s new API enhances and simplifies electronic placement
Jennifer Rigby, Chief Operations Officer and Executive Sponsor of the Future at Lloyd’s, said:“This is an exciting new development that will enhance and simplify the flow of electronic placement data across the market, as we continue to progress the development of the next generation version of PPL. At Lloyd’s we want to make digital solutions that deliver better outcomes for our customers in a way that benefits the entire market. We are committed to sharing these benefits as quickly as possible using an open source framework that engenders even greater collaboration and engagement across the Lloyd’s ecosystem.”
ICICI Lombard launches Rs 5 lakh domestic multi-trip cover for an anuual premium of Rs 499
For domestic travelers who may be worried about stepping out during the COVID-19 pandemic, this unique, all-in-one insurance product offers a comprehensive bouquet of benefits that cover losses arising from trip cancellations, home burglary while travelling, missed connecting flights, lost baggage and more
IBM gets out of facial recognition business
The company will stop offering facial recognition software and oppose any use of such technology for purposes of mass surveillance and racial profiling, Krishna said.
Emerging market corporate credit quality down but not out
“This is almost like the Spanish Flu and the great recession combined,” Luis Alberto Moreno, president of the Inter-American Development Bank, said of the situation last right? week.
Coronavirus Situation “Worsening” Worldwide: WHO
After East Asia, Europe became the epicentre of the disease, but has now been overtaken by the Americas.
“Although the situation in Europe is improving, globally it is worsening,” WHO chief Tedros Adhanom Ghebreyesus told a virtual news conference in Geneva.
Eelectric Cars:Emerging risks and claims scenarios for manufacturers,suppliers and insurers
“From supply chain networks to production processes to the product itself – the automotive industry will have to respond to many emerging risks to make the transition to electric vehicles happen,” says Daphne Ricken, Senior Underwriter Liability at AGCS. “The anticipated growth of electric cars brings the prospect of new defect or performance issues; more expensive repair costs; new fire and cyber threats; and even reputational issues around sustainable sourcing and disposal of critical components and raw materials for batteries.”