Reinsurance

Lloyd's of London to pay for its 'shameful' sins in Atlantic slave trade

International News       Jun 18, 2020

  London: The Lloyd's of London insurance market has apologised for its "shameful" role in the 18th and 19th Century Atlantic slave trade and has agreed to fund charities and organisations promoting opportunities for black and ethnic minority groups.   About 17 million African men, women and...

Denis Kessler, Chairman & Chief Executive Officer of SCOR

S&P affirms SCOR's  ‘AA-’ rating with ‘stable outlook’, recognises group’s ability to absorb COVID-19 pandemic shock

International News       Jun 18, 2020

  Paris: French reinsurer SCOR has welcomed Standard & Poor’s(S&P) decision to affirm its ‘AA-’ rating with ‘stable outlook’, recognizing the group’s ability to absorb the shock of the COVID-19 pandemic crisis.SCOR has been informed of S&P's decision to affirm the financial strength rating for the...

Trump administration to propose rolling back protections for big tech

International News       Jun 17, 2020

  Washington: The U.S. Justice Department will propose legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet’s Google and Facebook have had for decades, a department official said on Wednesday, speaking on condition of anonymity.   President Donald Trump, who...

Insurers cite Swedish example in bid to dodge Covid-19 biz income payouts

International News       Jun 17, 2020

  London: Insurers are set to argue against paying out fully on claims made by businesses forced to shut because of the pandemic, saying that shops in Sweden lost money even without a strict lockdown.   The strategy was raised at the first case management hearing Tuesday...

ICICI Lombard unveils new benefits for Covid-19 policy holders

Indian News       Jun 16, 2020

  Mumbai: ICICI Lombard General Insurance, the largest private sector non-life insurance company in the country, has rolled out a host of offerings for its health indemnity customers, in light of the coronavirus pandemic.   The additional benefits and relaxations have been arrived at, keeping in mind...

Cargo ship calls at Singapore hub plummet to 27-year low, marine fuel sales fall

International News       Jun 15, 2020

  Singapore: Cargo ship arrivals in Singapore, the world's top transhipment and bunkering hub, plummeted to their lowest in nearly three decades in May, while dragging sales of marine fuels to a three-month low, official data showed.   As the coronavirus pandemic hit global trade, the number...

Disaster Financing:Nagaland,Swiss Re&Tata AIG strike India's first-ever parametric deal,to kick in against excess rainfall

Indian News       Jun 15, 2020

  Singapore: India has seen its  first parametric cover for disaster financing in place as the country’s northeastern state of Nagaland  has recently signed an agreement with Tata AIG General Insurance, with Swiss as a reinsurer, to provide insurance protection through parametric  mechanism for this year's...

Ritesh Kumar, MD & CEO, HDFC ERGO General Insurance Company

HDFC ERGO launches first-ever on-demand 'Pay As You Fly' insurance for drones

Indian News       Jun 15, 2020

Mumbai:  In a first-of-its-kind policy for drone-owners in India, HDFC ERGO and TropoGo, a Deep Tech start-up, have partnered to offer commercial drone owners and operators the mandatory Third Party Liability claims cover for property damage and bodily injuries. HDFC ERGO General will offere this...

Some U.S. P/C lines still challenged despite segment’s overall improvement

International News       Jun 12, 2020

OLDWICK, N.J: Although the U.S. property/casualty (P/C) industry’s bottom-line underwriting performance improved noticeably in 2019, several individual lines of business are struggling to generate better results in the face of natural catastrophes and wildfires. The financial results on each individual line of business, along with...

Munich Re subsidiary Roanoke partners with travel insurance tech startup battleface

International News       Jun 12, 2020

Kent/London: Roanoke Travel Insurance, a subsidiary of Munich Re Specialty Group North America, has partnered with the travel insurance startup battleface to launch product sales in the United States.   battleface offers travel insurance products and assistance to modern travelers who don’t fit the outdated travel...