by AIP Online Bureau | Jan 3, 2023 | Indian News, Non-Life, Regulation, Reinsurance
To qualify for auto-renewal of a CBR, the insurer will ensure that credit rating of the CBR should not be less than ‘Standard & Poor’s A- or equivalent. The latest credit rating of the CBR should not be prior to 12 months from the date of application for...
by AIP Online Bureau | Dec 27, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
The move comes after Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance on Friday told shipowners that they would stop offering marine war insurance, which covers damage to ships from war in Russian waters, from Jan Industry...
by AIP Online Bureau | Dec 19, 2022 | Eco/Invest/Demography, Intermediaries, International News, Non-Life, Reinsurance
As they operate on an “aggregation” basis with marine and aviation war risk insurance, totting up the losses as one, claims in one area make reinsurers wary about the whole war risk sector, David Smith, head of hull and marine liabilities at broker McGill and Partners...
by AIP Online Bureau | Dec 19, 2022 | International News, Non-Life, Reinsurance, Risk Management, Technology
Specialists in the Lloyd’s of London and Bermuda insurance markets are requiring more transparency from crypto companies about their exposure to FTX. The insurers are also proposing broad policy exclusions for any claims arising from the company’s...
by AIP Online Bureau | Dec 18, 2022 | Eco/Invest/Demography, Indian News, Non-Life, Regulation, Reinsurance
Nitin Gadkari, Union Minister of Road Transport and Highways(Morth), will be formally launching the country’s first Surety Bond on Monday Bajaj Allianz General insurance, with major reinsurance back ups from Munich Re and Swiss Re has already got its Surety Bond...
