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French supermarkets’ cyber insurance unlikely to cover food losses, insurers say
Cyber insurance typically does not cover physical losses from attacks and supermarkets’ claims could be affected if they lacked the latest software updates, four insurance brokers told Reuters. The attack’s total costs could add up to tens of millions of euros...
Eight US states sue OpenAI, claiming ChatGPT harms young users
The lawsuits accuse the company of violating state consumer protection laws by misleading users about the safety of ChatGPT. The states also allege that the company created a public nuisance by endangering the health of their residents.The lawsuits represent the...
All India Insurance Employees’ Association joins UFBU in opposing sale of profitable IDBI Bank to Fairfax
Several major banks have successfully combined their banking operations with insurance businesses through subsidiary arrangements. Instead of exploring such possibilities, the Government has chosen to facilitate the transfer of control of a public sector bank to...
Cost and stigma affect access to professional mental health care, AXA report
As a barrier, stigma varies too and is often rooted in social and cultural attitudes. The research finds it is a greater barrier in countries such as the UK, South Korea and Hong Kong than in Switzerland, Turkey and Thailand. London: New research from AXA Global...
IRDAI to ensure smooth transition to new commission rules, may launch Public Insurance Registry in Jan 28: Seth
Ajay Seth,chairman , IRDAI "The idea is to allow for an orderly transition from the present system to a better systemThere's absolutely no intention that there should be a disruption for any market player or any individual."Ajay Seth,chairman, IRDAI Insurance...
HDFC Life net profit rises 13.60% to Rs 508 cr in Q2FY27
``We expect to sustain this momentum and grow in line with the industry in FY27.''Vibha Padalkar, MD & CEO, HDFC Life Mumbai:HDFC Life Insurance. the second largest private life insurer, posted a 13.6% rise in quarterly profit on Thursday, helped by higher...
Growing and interconnected climate risks require appropriately priced insurance: Munich Re
Artificial intelligence, geopolitical tensions and growing digital interdependencies are changing both the frequency and nature of cyber risk. At the same time, the economic cost of cybercrime continues to rise, Patrice Michellon, Chief Executive for Continental...
Fairfax plans to merge Digit, IIFL Capital with IDBI Bank to build global financial services major, N. S. Kannan to be bank’s chairman
Prem Watsa, chairman and chief executive officer of Fairfax Financial Holdings, said the acquisition represented a rare opportunity to build a major financial institution in one of the world's fastest-growing economies. Toronto/Mumbai: Fairfax Financial Holdings,...
Insurance regulators tightening rules for asset-intensive reinsurance, promote alternative forms of insurance risk transfer
Regulatory bodies in Singapore, Hong Kong and the UK have launched consultations to introduce innovative risk transfer solutions built on protected cell companies. They aim to improve access to insurance covers for SMEs and to better spread peak natural catastrophe...
Auto sales rise 18.2 pc to 83.88 lakh units in Q2, all vehicle segments post record sales: SIAM
SIAM expects the industry to maintain positive growth in the second half of FY2026-27, supported by the festive season, new vehicle launches, infrastructure spending, fleet replacement and last-mile mobility demand. New Delhi: Domestic automobile sales across major...
Marsh and Bloomberg launch partnership to strengthen resilience and drive growth in a turbulent world
The Coalition’s initial work will focus on engaging leaders in a dialogue about the five most critical and interconnected decision domains for building resilience today: geopolitics and geoeconomics; the natural environment; digital and AI; operations; and people and...
Insurers withdrawing coverage for climate-driven risks, passing on losses to governments and homeowners
Property insurers have already scaled back — or even canceled — policies for wildfire losses in California, and for hurricane risk in Florida and Louisiana. In Europe, only a quarter of natural catastrophe losses are currently covered, leaving the continent facing “a...
AI Leaders: Achieving ambitious goals
"Whenever I hear executives say they're investing in AI in order to reduce staff, it tells me that organization has no strategy.Because cutting costs is the least imaginative use for AI. Keep your people, teach them how to use the tools safely, and pursue goals like...
ICICI Lombard General net profit rises 15.5% to Rs 946 crore in Q2FY27
The insurer's combined ratio was 107 per cent in the July-September quarter as against 105 per cent in Q2 FY2026 The company had an underwriting loosses of Rs 318 crore, up 78 per cent in Q2FY27. Mumbai: With higher premium and investment income, ICICI Lombard General...
Cabinet approves ₹53,428 crore Social Assistance Scheme, amends disability Pension norms
The benchmark disability requirement for availing of the pension has been reduced from 80 per cent to 40 per cent. The minimum age criterion has also been removed, making persons with disabilities eligible for assistance from birth. New Delhi: The Union Cabinet on...
SC mandates insurance for railway counter tickets from Oct 27
A bench of Justices Ahsanuddin Amanullah and R. Mahadevan issued the order while hearing matters related to railway safety, expressing displeasure over the Railways' failure to extend insurance benefits to offline ticket buyers despite repeated opportunities. New...
Govt clears sale of IDBI Bank to Prem Watsa’s Fairfax Financial for Rs 52,878 cr
Currently, the Centre holds 45.48 per cent while holds 49.24 per cent in IDBI Bank Post Fairfax tarnsaction,the Centre will hold 15 per cent while LIC will have a stake of 19 per cent. The government has also authorised the sale of the government's remaining 15 per...
Four Nations Insurance Alliance: Tackling rising risks of economic resilience
Insurance bodies representing Australia, the United Kingdom, Canada and New Zealand announced the formation of the Four Nations Insurance Alliance.The partnership has been established in response to common problems that have been growing across the four economies,...