by AIP Online Bureau | Jun 18, 2022 | Indian News, Non-Life, Reinsurance
The `Pool’, which only covers the Cargo and not the Hull, was initiated at the instance of ministry of finance, is already in place this week after receiving due approvals from the insurance regulator IRDAI Effectively, any claim within Rs 500 crore per shipment of...
by AIP Online Bureau | Jun 11, 2022 | Eco/Invest/Demography, International News, Non-Life, Policy, Reinsurance
The sources, who declined to be identified due to the sensitivity of the issue, said Russian central bank-controlled RNRC was now the main company providing state guarantees to Russian insurance firms that offered cover such as Ingosstrakh, which insures Russian...
by AIP Online Bureau | Jun 10, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Janet Yellen, US Treasury Secretary The US has already outlawed imports of Russian oil and the European Union has agreed to prohibit seaborne imports of Russian crude in six months. On top of that, the bloc has worked toward coordinating with some Group of Seven...
by AIP Online Bureau | Jun 9, 2022 | Banking & Bancassurance, Eco/Invest/Demography, International News, Non-Life, Reinsurance
Trading, insurance and shipping executives said last week that such a ban could further complicate trade in dry bulk and liquid commodities with Russia, making them more expensive, delaying scrapping of old ships, pushing up global freight rates and encouraging...
by AIP Online Bureau | Jun 4, 2022 | International News, Non-Life, Reinsurance
The partial sale would result in a 400 million euro ($429.80 million) hit to Allianz’s net profit, the company said. Companies have been scrambling to shed assets in Russia since the invasion, which Russia has called a “special operation.” The insurer Allianz said on...
