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Offshore wind industry: Economic pressures and tech innovation need to be managed
Around 380GW of offshore capacity is expected to be added across 32 markets over the next 10 years, according to the Global Wind Energy Council, with half of that growth expected to come from the Asia Pacific region. Developers and their insurers need to manage a...
United is latest to discover bogus parts in plane engines
Aviation regulators have said AOG supplied an unknown number of jet engine spare parts backed by falsified airworthiness documentation, kicking off a worldwide effort by the industry to hunt down more components. The widening scandal has shaken an industry where...
US Federal Agencies seek to streamline ‘Hodgepodge’ of Cyber Reporting Rules
The law passed last year will eventually require companies to report cyber incidents within 72 hours and flag paying a ransom within 24 hours, providing what Silvers described a “sea change in federal visibility into serious cyber incidents.” Still, timelines will...
US home insurance ‘Bubble’ closer to popping as climate risks mount: Report
At the core of the problem is an increase in the severity of disasters exacerbated by climate change and the damage they wreak. Until now, state regulations that cap increases in insurance premiums and subsidized insurer-of-last-resort programs have hidden the...
Fed leaves rates unchanged at 5.25-5.50%, sees tighter policy through 2024
"Inflation remains elevated," the rate-setting Federal Open Market Committee (FOMC) said in a policy statement that included projections incorporating stronger economic and job growth than prior forecasts, and keeping prospects for a "soft landing" squarely in view...
Mutual funds attract 6% of household savings in FY23, shows RBI data
Net inflows into life insurance funds and small savings increased by 15 per cent and 7.5 per cent, respectively. Household investments in mutual funds (MFs) reached a record Rs 1.8 trillion during financial year 2023 (FY23), largely driven by strong inflows through...
Talent war, rising costs causing Indian employers to rethink benefits strategy: WTW Survey
In India, employers see risk and insurance benefits (51 per cent), health benefits (51 per cent) and career, training and development (43 per cent) as the most important benefits in their portfolios ''Economic factors, a tough labour market and tight budgets are...
Liberty General Insurance appoints Parag Ved as CEO Designate
Ved was the second official from Tata AIG General to become a CEO of another domestic general insurer after Amit Ganokar,also from Tata AIG General, had joined Chennai based Royal Sundram General Insurance as its MD & CEO a few months back MUMBAI: Liberty General...
Bitcoin logs over 700K transactions in single day after almost 2 years: Data
According to the data from Bitinforcharts, the number of daily active addresses reached a multi-month high on September 15, rising from 754,000 two years ago to a whopping 1.08 million San Francisco: Bitcoin has witnessed an extraordinary surge in transaction volume...
Household net financial savings at 47-year low in FY23
According to the Reserve Bank of India (RBI), household net financial savings (HHNFS) collapsed to just 5.1 per cent of GDP in FY23, marking the lowest level in 47 years since FY77, the report said New Delhi: Household financial borrowings in FY23 surged to 5.8 per...
Equity investors lose Rs 2.89 lakh crore in two days of market fall
''The domestic markets remained under pressure due to rising US bond yields and a stronger greenback. Concerns reigned over upcoming Fed policy, interest rate trajectory and rising oil prices. Bank Nifty underperformed today due to rising cost of funds and reduction...
UK watchdog sets three-month deadline to improve car insurance
The Financial Conduct Authority (FCA) said on Wednesday it had asked insurers to check if their products offer value for money, a requirement reinforced by the watchdog's tougher general "consumer duty" rule that came into force in July London: Britain's financial...
Kerala to conduct surveillance study on Nipah virus: CM Pinarayi Vijayan
"It cannot be said that the Nipah threat has gone away. It is a relief that the disease has not spread to more people. The government is going ahead with effective measures to prevent the spread and ensure better treatment for those infected. The entire health system...
Miller expands reinsurance offering with establishment of new APAC treaty team
Ron Whyte, Head of Miller Asia, said: “APAC is a central pillar of Miller’s international growth strategy and a market in which we see clear long-term opportunities. We want to establish meaningful and value-add reinsurance capabilities in the region and establishing...
India can avert 4.6 mn deaths by 2040 with better hypertension control: WHO
Uncontrolled hypertension is known to cause heart attack, stroke and premature death. In fact, the report showed that 52 per cent deaths in the country due to cardiovascular diseases such as heart attack can be attributed to elevated blood pressure New Delhi: Better...
New India to integrate with ONDC soon, targets digital footprint increase by 10 to 15% annually: Kapur
Neerja Kapur, CMD, New India Assurance ``The insurer is taking lot of digital initiatives and is deploying artificial intelligence for doing motor Own Damage( OD) claim surveys up to Rs. 50,000. This is currently in the pilot phase. It will be rolled out to all its...
Annual cost for reaching the SDGs? More than $5 trillion
When expanded to cover all developing economies, using the median per-capita cost for the 48 in the study, total annual needs ris to between $6.9 trillion and $7.6 trillion The analysis focuses on six paths for transformation through sustainable development: social...
4 out of every 5 people with hypertension are not adequately treated: WHO
The number of people living with hypertension (blood pressure of 140/90 mmHg or higher or taking medication for hypertension) doubled between 1990 and 2019, from 650 million to 1.3 billion. Nearly half of people with hypertension globally are currently unaware of...