Indian
Banking services hit as PSU bank employees go on two-day strike
AIBOC General Secretary Soumya Dutta said about 7 lakh bank...
AIIB to fund $150 million for making Chennai’s urban services green and resilient
Chennai faces tremendous infrastructure deficits and low service...
Cabinet clears proposal to increase legal age of women to 21: Report
After the Union cabinet's approval, the government will amend the...
KKR to buy 10% stake in Shriram General Insurance ahead of IPO
The Chennai-based Shriram Group is selling the stake in Shriram...
International
IFC mobilises $2B in credit capacity from insurers to expand lending to FIs
AXA XL, Aspen Insurance, Everest Insurance®, Liberty Specialty Markets, Munich Re and Tokio Marine HCC are giving IFC the ability to significantly scale up its lending operations to emerging market financial institutions over the next four years.The initiative will allow IFC to increase its medium- and long-term lending to commercial banks and non-bank financial institutions in emerging markets by up to $5 billion.
Insurers will see take-up of cyber insurance rise following COVID-19,GlobalData
GlobalData analyst, Jazmin Chong, commented: “Cyber insurance uptake has been the most impactful among micro businesses, which saw a 300% increase between 2016 and 2019, reaching 17.8%. This huge increase is due to the very low proportion of micro businesses that held cyber insurance in the past. However, small and medium businesses have also recorded notable rises. More than 50% of medium enterprises now hold cyber insurance, highlighting the growing awareness around the importance of protection against cyber incidents among larger-sized businesses.”
Fidelis, Aon and Marsh develop Marine Cargo Clause aiming to combat modern slavery
“Forced labor in all its forms is an extreme expression of inequality and injustice. The insurance industry is committed to do all it can to prevent association with the abhorrent practices of modern slavery. We sometimes think that slavery is a thing of the past, but it is not – it is real and present in all societies and we want to do our part to root it out,” said Charles Mathias, group executive director & group chief risk officer, Fidelis Insurance.
Beazley launches Contingency Policy covering virtual event organizers,offers limits of up to $10 million
London: Specialist insurer Beazley has launched a...
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