Reinsurance

Lloyd’s launches “first-of-its-kind” parametric business interruption insurance policy for SMEs

International News       Sep 30, 2020

London: Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small and medium sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies today...

$9 billion of Cat bond issuance during the 12-month period to June 2020

International News       Sep 29, 2020

  London: Aon plc today announced the launch of its ILS Annual Report 2020, which analyses the key trends observed in the insurance-linked securities (ILS) sector during the 12-month period to June 30, 2020. The report, Alternative Capital: Growth Potential and Resilience, reveals that ILS markets...

AXA XL launches Digital Risk Engineer, a connected solution to monitor ``buildings and assets''

International News       Sep 29, 2020

  Paris: AXA XL is accelerating the scaling of its new Digital Risk Engineer proposition – a connected solution designed to enable companies to monitor the “health” of their buildings and assets – having recently completed the successful pilot phase. Available globally, Digital Risk Engineer uses...

China to tighten supervision of country's booming online insurance business

International News       Sep 29, 2020

BEIJING: China’s banking and insurance regulator issued draft rules on Monday to rein in risks accumulated in country’s booming online insurance sector. The rules, on which the regulator is seeking public feedback till Oct. 28, will ban unlicensed institutions and individuals from participating the online...

UK watchdog sets Wednesday deadline for agreement on business insurance claims

International News       Sep 29, 2020

LONDON: Britain’s Financial Conduct Authority said on Tuesday it has filed for an expedited appeal in its business interruption test case as a precaution against insurers not agreeing by Wednesday to pay out on claims made during the pandemic. Hundreds of thousands of mainly small...

AXA XL in India to plant 30,000 trees and create a Biodiversity Park in Delhi

Indian News       Sep 28, 2020

  Gurgaon: AXA XL in India has partnered with charity, Give Me Trees Trust, to embark on an ambitious three-year project to plant 30,000 trees and create a biodiversity park in Jaunapur, Chhatarpur, New Delhi. The new park in Delhi is expected to release 2,400,000 kgs...

SCOR welcomes A.M. Best’s decision to confirm its Financial Strength Rating of ‘A+ Superior’

International News       Sep 28, 2020

  Paris: A.M. Best has decided to affirm SCOR’s Financial Strength Rating of ‘A+ (Superior)’ and its Long-Term Issuer Credit Rating of ‘aa-’. According to A.M. Best, this decision reflects “SCOR’s balance sheet strength, which A.M. Best categorises as very strong, as well as its strong...

AstraZeneca gets partial immunity in low-cost EU vaccine deal

International News       Sep 28, 2020

  European governments will pay claims above an agreed limit against AstraZeneca over side-effects from its potential COVID-19 vaccine, under different terms to a deal struck with Sanofi, an EU official told Reuters. The deals reflect different strategies by two of the world’s top drugmakers for...

African Risk Capacity partners with insuretech Pula to Deliver Agric Index Insurance products to African Farmers

International News       Sep 28, 2020

  Johannesburg: The African Risk Capacity Limited (ARC Ltd), the commercial subsidiary of African Risk Capacity Group (ARC Group), has announced a partnership agreement with Pula to deliver best-in-class agriculture index insurance products to protect African farmers from climatic risks. Every farming season, African farmers are...

Shankar Garigiparthy, Country Manager and CEO, Lloyd’s India 

Lloyd's of London alerts India Inc on rising ``Intangible Risks'', launches new solutions for Pandemic Risks 

Indian News       Sep 27, 2020

  Mumbai: COVID-19 Pandemic has increased India Inc's ’ exposure to a plethora of new risks, many of which implicate the intangible, the Lloyd's of London has alerted,. According to some estimates,intangible assets such as reputation, human capital and intellectual property are fast becoming an increasing...

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