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India to see a 10% salary increase in 2020, Willis Towers Watson Survey finds

by | Nov 5, 2019 | ,

With the cautious business outlook, recruitment efforts are expected to slow down. The survey shows that only 22% of the organisations in India plan to add new headcount compared to 29% last year. Organisations planning to maintain their current headcount increased from 63% in 2018 to 70% in 2019; while, 7% plan to reduce headcount as compared to 8% last year

Safer skies but claims and risks grow

by | Nov 5, 2019 | , ,

The report, which analyzes more than 50,000 aviation insurance industry claims worth more than €14.8bn ($16.3bn) from 2013 to  2018[1], reveals that collision/crash incidents currently account for over half the value of all claims (57%) equivalent to €8.4bn ($9.3bn) – and over a quarter of claims by number (27%). In future, more costly grounding incidents, business interruption incidents resulting from cyber and drone events, and more incidences of turbulence are just some of the trends expected to have an influence on the loss landscape, the report notes.

Industries with pollution load in control need not seek permissions from ministries: Prakash Javadekar

by | Nov 4, 2019 | , ,

“If your pollution load does not increase, you need not come to us again for permissions. With responsible care there will be responsible freedom. There has to responsible care and self regulatory mechanism as country won’t progress without it,” Javadekar said, asserting that he is not in favour of government ruling everything.

AIR Worldwide launches Multi-peril Crop Insurance Model for India

by | Nov 4, 2019 | , , ,

It also features a historical catalog of losses based on a recast of the years 1979 through 2017. Both the stochastic and historic recast yield and loss catalogs reflect current crop “technology” levels (for example, current crop genetics, farmer skill, availability of chemical inputs), insurable exposure by district, and PMFBY (Pradhan Mantri Fasal Bima Yojana) policy conditions as revised in late 2018

U.K. bans fracking on concerns about Earthquake Risk

by | Nov 4, 2019 | , ,

Pressure from large-scale environmental protests and widespread public opinion has damped the enthusiasm for the fossil fuel as the U.K. strives to put more climate friendly policies in place. But the industry isn’t giving up. Lobby group U.K. Onshore Oil and Gas plans to demonstrate that companies can operate safely and in an environmentally friendly manner.

Q3 non-life ILS capacity at near-record high of $27.3 billion:Willis Re

by | Nov 4, 2019 | , ,

The ILS sector has reached a dynamic equilibrium and is well positioned for growth. Alternative capital in all its forms is clearly growing again, notwithstanding the losses and related loss creep of the past several years. This rising tide will not raise all ships, however. Some managers, sectors, and strategies have outperformed, and are now benefitting as a result, while others remain under stress

India pulls out of RCEP, paves way for 15 nations to sign China-backed deal

by | Nov 4, 2019 | , ,

India conveyed its decision to exit the Regional Comprehensive Economic Partnership, or RCEP, foreign ministry official Vijay Thakur Singh told reporters in Bangkok on Monday. Prime Minister Narendra Modi highlighted that he was guided by the impact it would have on the lives and livelihoods of all Indians, especially vulnerable sections of society, she said.

New Delhi declares public emergency as pollution at year’s worst

by | Nov 3, 2019 |

An index measuring the level of a deadly air pollutant hit 484 on a scale of 500 on Friday, the government’s Central Pollution Control Board, the worst this year.

The index measures the level of PM 2.5, tiny particulate matter that goes deep into the lungs. Anything above 400 poses a risk for people with respiratory illnesses and can also affect even those with healthy lungs.