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Russian strikes on Ukraine’s ports and ships push insurance rates up

by AIP Online Bureau | Oct 10, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management

Insurance sources said on Thursday the war premiums had jumped around 30% this week to just over 1% of the value of the vessel from around 0.7% in early September, which would mean hundreds of thousands of dollars in extra costs A series of Russian missile strikes on...
Star Health confirms data breach, Hacker ‘selling 57.5 lakh insurance premium records for $150K

Star Health confirms data breach, Hacker ‘selling 57.5 lakh insurance premium records for $150K

by AIP Online Bureau | Oct 9, 2024 | Health, Indian News, Risk Management, Technology, Workplace/Employee Benefits

“We acknowledge that we were the victim of a targeted malicious cyberattack, resulting in unauthorized and illegal access to certain data. We make it absolutely clear that our operations remain unaffected, and all services continue without disruption,” Star...
Data privacy is a major concern for insurance industry: LIC CEO

Data privacy is a major concern for insurance industry: LIC CEO

by AIP Online Bureau | Oct 6, 2024 | Eco/Invest/Demography, Indian News, Life, Regulation, Risk Management, Technology

(LtoR) Siddhartha Mohanty, CEO and MD, Life Insurance Corporation and Satyajit Tripathi, Member (Distribution), IRDAI at an event organised by Pune based National Insurance Academy in Mumbai IRDAI’s  methods for monitoring companies and intermediaries have...

WTW to sell insurance distribution unit to public-equity firm for $632.4 million

by AIP Online Bureau | Oct 1, 2024 | Health, Intermediaries, International News, Non-Life

“With the sale of Tranzact, we are exiting this direct-to-consumer market and accelerating our progress toward our long-term free cash flow margin goals,” WTW CEO Carl Hess said Willis Tower Watson said Tuesday it would sell its direct-to-consumer insurance...
P K Mishra calls for expanding insurance coverage across diverse sectors

P K Mishra calls for expanding insurance coverage across diverse sectors

by AIP Online Bureau | Sep 21, 2024 | Eco/Invest/Demography, Indian News, Life, Non-Life, Policy, Risk Management

PK Mishra, Prime Minister’s Principal Secretary “Should the government act as a catalyst, facilitating the growth of the insurance market, or should it take a more direct role such as purchasing insurance for certain sectors? How should the government...
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