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Indian
Shareholders to take call on listing: Future Generali India MD
India continues to be most attractive market for insurance players...
Aditya Birla Group to invest Rs 1,250 crore into its financial services arm
The board of Aditya Birla Capital Ltd (ABCL), which is into...
IRDAI issues norms for deploying `Bima Vahaks’ to enhance insurance inclusion
There can be Corporate Bima Vahak, who are legal person registered...
LIC,SBI among top 10 Indian brands in terms of value
Tata Consultancy Services (TCS) topped the 2023 50 Most Valuable...
International
Marsh launches Flood Risk Index, Indonesia,Brazil,India,Russia and Mexico most vunerable
Over 2.2 billion people are exposed to flooding globally.1 Since 1980, over 4,500 flood disasters resulted in over $1 trillion in damages, accounting for 40% of natural catastrophe losses globally.
The five G20 countries with the largest shares of population and economic assets exposed to flooding are:China,India,Argentina,Russia,Germany
In the event of flooding, the five G20 countries where people and economic assets are most vulnerable to harm are:Indonesia,Brazil,India,Russia,Mexico
OneWeb signs unveils insurance programme for its satellites
Marsh arranged a multi-launch insurance programme covering physical loss or damage to the remaining GEN 1 satellites and launch vehicles with a global panel of leading specialist insurers. The insurance programme underpins the next stage in the development of OneWeb’s global communications capabilities.
SCOR’s announces changes to its Group Executive Committee
Laurent Rousseau, Chief Executive Officer of SCOR, comments: “These internal promotions bear witness to the depth of SCOR’s talent pool and the strong competencies of our rising leaders. We are mobilised to accelerate the company’s profound transformation provided for in the “Quantum Leap” strategic plan and accelerate long-term value creation for all our stakeholders.”
Surging collision risks Satellite and Space Debris force insurers to exit satellite coverage market
Space coverage has been a lucrative niche for insurers, which took in $475 million in gross premiums to cover satellites, rockets and unmanned space flights last year and paid just $425 million in losses, according to Seradata.
Space premiums are 10-20 times aviation premiums, said Peter Elson, CEO of insurance broker Gallagher Aerospace.
Only 11 spacecraft have suffered a partial or total failure due to suspected debris strikes over the past decade, according to Seradata, making insurer worries largely theoretical for now.
Yet because insurers predict risks over the life of current and future policies, space underwriters fret over doomsday scenarios years ahead.
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