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Indian
New India launches Drone insurance, to cover physical damage to the aircraft and its theft
Neerja Kapur, CMD,NIA said, “India’s drone manufacturing industry...
Parl panel moots ex-ante regulations, digital competition law to curb unfair biz practices in digital markets
The suggestions are part of the Standing Committee on Finance's...
Amending Insurance Acts: General Insurers oppose changes in capital requirements, granting composite licenses
On granting composite licenses, general insurers say,suddenly...
Rajya Sabha passes bill to deal with maritime piracy with voice vote
In the bill, the government has added provisions for death penalty...
International
More people displaced due to climate disasters than conflicts in 2020
Africa Specialty Risks Group becomes reinsurer in Mauritius
ASR is focused on becoming the partner of choice to corporations through the provision of comprehensive and bespoke risk mitigating insurance solutions, and offers capacity across Property, Construction, Political Risk, Trade Credit, Energy, Liability and PVT (War, Political Violence and Terrorism), with further lines of business being developed.
Australian general insurers welcome `Bushfire Funding’, say Tax Rise ‘Unsustainable
The federal government’s allocation of A$1.2 billion (US$931 million) over five years to improve Australia’s capability to prepare for, respond to, and recover from natural disasters and now the Victorian government’s A$517 million investment in bushfire specific resilience initiatives will protect communities vulnerable to the impact of extreme weather and natural disasters,the ICA said in a statement.
“This welcome news is tempered, however, by the Victorian budget’s projections that revenue from insurance stamp duty will increase by almost one-third over the budget estimates, rising 29% from A$1.517 billion in 2020-21 to A$1.959 billion [US$1.519 billion] in 2024-25,” the ICA explained.
IEA’s urgent fossil fuel warning earns mixed reception from producers
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