by AIP Online Bureau | Oct 12, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Israel’s parliamentary finance committee said late on Tuesday it would debate authorizing state guarantees for providing war risk insurance for Israeli airlines The panel said insurance companies had indicated they were entitled to cancel cover with seven days’...
by AIP Online Bureau | Oct 12, 2023 | Banking & Bancassurance, Indian News, Regulation, Risk Management, Technology
The central bank also found non-compliance with certain provisions related to ‘RBI Guidelines for Licensing of Payments Banks’, ‘Cyber security framework in banks’ and ‘Securing mobile banking applications including UPI ecosystem’...
by AIP Online Bureau | Oct 12, 2023 | Health, Indian News, Non-Life, Technology
Segar Sampathkumar, director, Health Insurance, GI Council Such a system, which currently serves 52 per cent of health policies, will create a seamless technological mechanism for all the insurers to settle policy holders’ claims cashless without any manual...
by AIP Online Bureau | Oct 12, 2023 | Indian News, Regulation, Risk Management, Technology
Recent technologies, such as artificial intelligence, synthetic biology, quantum computing and robotics, have the potential not only to revolutionise human and social lives, but also to alter the global order, the RBI deputy governor T Rabi Sankar pointed out He...
by AIP Online Bureau | Oct 12, 2023 | Indian News, Non-Life, Risk Management
Buxar Superintendent of Police Manish Kumar told PTI four passengers had died in the accident. A Railway Police Force official said at least 70 passengers have been injured and shifted to local hospitals. Those with serious injuries were rushed to AIIMS, Patna...
by AIP Online Bureau | Oct 11, 2023 | Disaster & Management, Eco/Invest/Demography, Indian News, Risk Management, Technology
In recent years, glacial flood early warning systems have been deployed in China, Nepal, Pakistan and Bhutan as climate change has raised the risks of flooding. The Lhonak Lake system is a pilot project being executed with the help of Swiss agencies, with India’s...
by AIP Online Bureau | Oct 11, 2023 | Articles, Eco/Invest/Demography, Technology, Wealth Management/ Philanthropy
“With growing investable wealth in India, banks and wealth management firms have a huge opportunity for growth. It is imperative that they digitally empower their relationship managers using generative AI and intelligent automation so they can significantly step up...
by AIP Online Bureau | Oct 11, 2023 | Climate, Environment, Renewable Energy, Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
Weather derivatives let buyers hedge against the risk that the weather will damage their business. Unlike insurance, where companies must prove they have suffered a loss, they pay out based on indexes. These might track the temperature in Paris or rainfall in New York...
by AIP Online Bureau | Oct 11, 2023 | International News, Non-Life, Reinsurance, Risk Management
Israel is among countries in the Middle East already considered a high-risk area by insurers in the London insurance market, a key center for marine insurance cover.Ships pay an additional war risk premium for seven-day voyages to Israel. Since Saturday’s attacks...
by AIP Online Bureau | Oct 11, 2023 | Climate, Environment, Renewable Energy, Eco/Invest/Demography, International News, Non-Life, Reinsurance
“The global economy is becoming more complex and increasingly subject to systemic threats,” said Trevor Maynard, executive director of Systemic Risks at the Cambridge Centre for Risk Studies London: Global economic losses could reach $5 trillion under a “plausible...
