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FBI says Alaska Airlines passengers are possible ‘crime victims’
“A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at this time. A victim of a federal crime is entitled to receive certain services,” the letter stated. The Federal Bureau of Investigation(FBI) has...
Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit
“The creation of a dedicated cyber and digital business unit allows us to create consistency and the best possible capacity for our clients and business partners.For insurtechs and many clients seeking cyber risk protection, we are already the trusted reinsurance...
New record of 142 global Nat Cat events globally, USD108 billion insured losses in 2023: Swiss Re
Moses Ojeisekhoba, Swiss Re's CEO Global Clients & Solutions, says: "As weather hazards intensify due to climate change, risk assessment and insurance premiums need to keep up with the fast-evolving risk landscape. Looking ahead, we must focus on reducing the loss...
LIC emerges as the strongest global insurance brand: Brand Finance Insurance Report
With a brand strength index score of 88.3, another Indian life insurer, SBI Life, in the sixth position, for the first time has found its place among the top 10 global insurance brands Mumbai Public sector behemoth Life Insurance Corporation has emerged as the top...
Demographic challenges: India’s policy makers facing mounting pressure as fertility rates decline
According to the Lancet report, India's total fertility rate has witnessed a sharp decline over the decades, plummeting from nearly 6.2 in 1950 to just under 2 in 2021. Projections indicate a further decrease to 1.29 by 2050 and a concerning 1.04 by 2100. This trend...
Advertising body ties up with CCPA to check misleading ads
The CCPA has requested ASCI to forward any advertisement that is non-compliant with the ASCI Code and could potentially violate the Consumer Protection Act, 2019, along with its accompanying guidelines, to the CCPA for appropriate action, a statement said New Delhi:...
Atal Pension Yojana design best guarantees minimum 8 pc return says Sitharaman rebuts Cong charges
"Atal Pension Yojana is designed based on best practice choice architecture to automatically continue the premium payment unless the subscriber opts out. This is a deliberate and beneficial feature which is in the best interest of the subscribers," Nirmala Sitharaman,...
Mumbai overtakes Beijing to become Asia’s new billionaire capital
Leading the Indian billionaire list is Mukesh Ambani, the chairman of Reliance Industries, with a staggering net worth of $115 billion. Closely following is Gautam Adani, the founder of the Adani Group energy conglomerate, with assets valued at $86 billion, marking a...
Policy Revolution: Empowering insurers with flexibility in Corporate Policies
Ashwani Dhanawat,Chief Investment Officer, Shriram General Insurance Historically, insurers were bound by rigid formatting requirements for policy wordings, limiting their ability to tailor insurance products to the unique needs and risk profiles of their clients.. By...
Cargo ship hits Baltimore’s Key Bridge, bringing it down, Rescuers are looking for people in water
The ship crashed into one of the bridge’s supports, causing the structure to break apart like a toy. It tumbled into the water in a matter of seconds — a shocking spectacle that was captured on video and posted on social media. The vessel caught fire, and thick, black...
2024 Geopolitical Risk: Increasingly complex global risk landscape in landmark election year
Insured losses from civil unrest by 4-year period – 2012 to 2023 (Source: Howden, NOVA) Howden data shows that insured losses from civil unrest have risen significantly over the last decade to total USD 7 billion in 2020-23. Rather than a series of random acts, recent...
M&A activities: Private Equity dry powder set to stimulate deals in 2024
Asia, the Middle East, and India were the most stable markets. Asia saw an influx of new insurers and exhibited a broader risk appetite, and while the Middle East and India saw a decrease in the overall number of deals, an increase in $1bn+ enterprise value deals saw...
Tokio Marine Kiln appoints Jonathan Grossman in Asia Pacific Property division
Tokio Marine Kiln (TMK) today announces the appointment of Jonathan Grossman to its property division in Singapore as underwriter, effective immediately. He will focus on writing business across the Asia Pacific region, as well as Australia and New Zealand, given his...
North Korean hackers stalk crypto startups scrimping on security
Hacks and scams cost the crypto industry an estimated $1.8 billion last year, down about 50% from 2022, according to Immunefi, which runs a platform where companies offer bounties to those who locate and flag security flaws in their software. A drop in the very...
Sanctions are finally starting to bite Moscow’s oil supply chain
Indian oil refiners — Moscow’s second-biggest customers after China since the 2022 invasion — will no longer accept tankers owned by state-run Sovcomflot PJSC because of the risk posed by sanctions. The Russian oil-export machine funding the Kremlin’s war in Ukraine...
Apple, Google, Meta targeted in EU’s first Digital Markets Act probes
The European Union law, effective from March 7, aims to challenge the power of the tech giants by making it easier for people to move between competing online services like social media platforms, internet browsers and app stores. That should in turn open up space for...
China vows to treat foreign firms equally amid industrial upgrade push
China will continue to open up high-level areas of industry and finance and create more market opportunities, and will firmly safeguard a multilateral trading system with the WTO at its core, Vice Commerce Minister Guo Tingting said . Beijing: China pledged on Monday...
After pricing, IRDAI now allows general insurers freedom of wordings in corporate policies from Apr 1
Now, the insurers can change terms, conditions, clauses, warranties, policy and endorsement wordings applicable to certain classes of business such as Fire, Engineering, Motor, Workmen’s Compensation and other classes of insurances which were not allowed earlier....