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Climate change made ‘fire-prone’ weather conditions more likely in Spain and France, scientists say
“We’ve seen repeatedly how climate change increases hot, dry, flammable conditions that are extremely conducive to wildfires," said Clair Barnes, a research associate in extreme weather at Imperial College London, who co-authored the WWA analysis. BRUSSELS:...
Poor application of norms cause of accidents at explosives and ammunition making units: Secretary
Sanjeev Kumar, Secretary, Department of Defence Production Addressing a seminar in Pune on 'Military Explosives & Propellants -- Safety and Compliance and Quality Assurance, Defence Production', Sanjeev Kumar, Secretary, Department of Defence Production, said the...
Japan earthquake halts auto and chip plants, testing supply chain resilience
Given Japan’s proneness to natural disasters, manufacturers have for decades sought to strengthen the resilience of parts supply and this latest quake, which has claimed the lives of 34 people, will be a test of how robust their efforts have been. The 7.1-magnitude...
Insurers are ‘Actively Evaluating’ new catastrophe risks as Europe burns
Historical data no longer provide an adequate foundation on which to base loss probabilities, which is why the industry now relies “heavily” on forward-looking scenario analysis, Aon’s Bruce said. And Europe’s ability to generate reliable catastrophe risk models will...
Rajaraman gets extension as IFSCA chairman till 65
K Rajaraman, chairman, International Financial Services Centres Authority The main objective of IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region...
Houthis’ Red Sea attacks prompt London insurers to widen high-risk zone
War risk premiums for voyages through the southern Red Sea have already jumped to between 1% to 2% of the value of a ship from 0.3% before the Houthi announcement, sources have said.. Attacks on ships by Yemen’s Houthis have prompted London’s marine insurance market...
Japan earthquake’s insurance claims may top $1.1 billion: Bloomberg Intelligence
Most of the exposure from the July 28 quake in Kumamoto is tied to commercial properties, as well as residential coverage under Japan’s earthquake insurance system, he said. Insurance claims from this week’s earthquake in Japan may top the 175 billion yen ($1.1...
Lohiya launches New India’s first sovereign-backed P&I cover under BMIP, war risk prm falls 35-40%
L to R: Debasish Prusty, additional secretary,Department Financial Services , Sanjay Lohiya, secretary,DFS, Shyam Jagannathan,director general, Shipping*extreme right) in an event in New Delhi on Thursday In an event in New Delhi, Sanjay Lohiya, secretary, Department...
Assam nad Orissa flood remain grim; IMD predicts heavy rainfall in Arunachal, Nagaland,Mahanadi water levels continue to rise
A crop area of 21,523.08 hectares remained submerged in Assam. More than 11,000 animals have been washed away, while another 17,000 have been affected.Damage to various infrastructure, including embankments, houses, roads, schools and other public property, was also...
ICICI MF buys 1% stake in Go Digit General Insurance for ₹139 cr
The transaction was executed on Wednesday at an average price of Rs 243 apiece, taking the deal size to Rs 139.03 crore, as per the data. Mumbai:ICICI Prudential Mutual Fund has bought about a 1 per cent stake in Go Digit General Insurance from venture capital firm...
Global CAT losses at nearly $112bn, only $44bn insured: Munich Re
Thomas Blunck,Member of the Board of Management. The first half of the year has provided a welcome breather from previous years of high natural disaster losses. But climate change and growing exposure persist, increasing the risk of larger losses in the future. The...
New India Assurance insures Skyroot’s Vikram-1 space mission
``We have the privilege of insuring Skyroot’s Vikram-1 mission. As India enters the new space era with private launch providers, NIA is extending its expertise to the commercial space ecosystem. The successful orbital mission of Skyroot Aerospace and deployment of...
Willis urges smarter data centre insurance buying as capacity demand nears $15billion
"Buying more insurance is not always the same as being better protected. When risks are properly modelled, understood and mitigated, clients can build more efficient, resilient insurance programs that reflect their actual exposures. This is especially important where...
Fitch warns AI market correction emerging as major global credit risk
“The extent to which capital markets and economies have become intertwined with AI have created a vulnerability for credit,” Fitch said. The AI boom and the risk of a correction are emerging as major global credit risks, ratings agency Fitch has warned, adding to...
Yemen’s Houthis considering fees for ships sailing through Red Sea, sources say
The Houthis were looking into imposing fees on most traffic through the narrow Bab el-Mandeb gateway, which links the southern Red Sea with the Gulf of Aden, the sources said. No timeframe was given at this stage for implementation, they added. Yemen’s Houthi group is...
India’s growth momentum remains strong despite global challenges: FinMin report
The report observed that India will need to continuously adapt to evolving global challenges, with domestic reforms and prudent macroeconomic management to stay on the high growth path and sustain investor confidence. New Delhi: India's growth momentum remains on a...
Google India’s nodal officer booked over ‘fake’ app on Play Store
The victim stated that fraudsters contacted him through a social media platform in July and the administrators "advised" him to invest through the trading app after opening an account. Hyderabad:A case was registered against Google India's nodal officer in Hyderabad...
Star Health Insurance Q1 profit rises 25 pc to Rs 550 cr
The insurer's underwriting profit surged to Rs 111 crore from Rs 16 crore in the corresponding quarter last year.Combined ratio of the insurer improved from 98.7 per cent in Q1FY26 to 97 per cent in Q1 FY 27. Chennai:Star Health and Allied Insurance Company, the...