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India’s Disaster Management Authority head appointed  UN Asst Secretary-General

India’s Disaster Management Authority head appointed UN Asst Secretary-General

by AIP Online Bureau | Mar 28, 2024 | Disaster & Management, International News, Policy, Risk Management

Kamal Kishore, UN Assistant Secretary-General with the disaster risk reduction portfolio Kishore brings to the position nearly three decades of experience in disaster risk reduction, climate action and sustainable development at the global, regional, national and...

LIC, GIC Re and New India continue to be Domestic Systemically Important Insurers(D-Slls) in 2023-24:IRDAI

by AIP Online Bureau | Mar 27, 2024 | Indian News, Life, Non-Life, Reinsurance

D-Slls refer to insurers of such size, market importance, and domestic and global inter connectedness, whose distress or failure would cause a significant dislocation in the domestic financial system Hyderabad: Insurance regulator IRDAI, on Wednesday, said Life...
IRDAI seeks detailed clarifications on Hinduja group’s plan to take over Reliance Capital

IRDAI seeks detailed clarifications on Hinduja group’s plan to take over Reliance Capital

by AIP Online Bureau | Mar 27, 2024 | Indian News, Life, Non-Life, Regulation

It is also proposed by Hinduja group to raise borrowing  for acquisitions  of shares of Reliance Capital Ltd , which will also violate the existing regulations, said IRDAI Hyderabad: The Indian insurance regulator IRDAI, as part of its due diligence process,...
Insurers could face record losses of up to $4 bln after Baltimore bridge tragedy, AXA is lead reinsurer

Insurers could face record losses of up to $4 bln after Baltimore bridge tragedy, AXA is lead reinsurer

by AIP Online Bureau | Mar 27, 2024 | Breaking News!, International News, Non-Life, Reinsurance, Risk Management

Claims could total up to $4 bln, record for shipping disasterInsurance lines affected include property, marine, liabilityInternational Group of P&I marine insurers have reinsurance cover of $3.1 blnAXA lead reinsurer on first layer of IG reinsurance...
Titanic Law helps ship owner limit bridge collapse liability

Titanic Law helps ship owner limit bridge collapse liability

by AIP Online Bureau | Mar 27, 2024 | International News, Non-Life, Reinsurance, Risk Management

A key to determining any insurance claims will be proving whether the accident was caused by negligence, and if so by whom, or mechanical failure, according to Bloomberg Intelligence. The ship is insured by the Britannia Protection and Indemnity Club, which is a...
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