by AIP Online Bureau | Aug 23, 2023 | Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance
Michael Young, Vice President, Product Management, Moody’s RMS, noted: “When the rare situation of high wind and wildfire ignitions do occur again in the future, we need to be sure all the buildings comply with scientifically proven risk reduction features highlighted...
by AIP Online Bureau | Aug 23, 2023 | International News, Non-Life, Regulation
Ron Whyte, Head of Miller Asia, said: “Asia forms an important part of Miller’s international growth strategy and these new appointments provide us with greater focus as we continue to expand in the region” London: Miller, an independent specialist (re)insurance...
by AIP Online Bureau | Aug 23, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Insurers have complained publicly about the risks of covering cargoes using the attestation system in recent months. There has also been a drop off in the number of ships calling at Russian ports with industry-standard insurance from members of the International Group...
by AIP Online Bureau | Aug 23, 2023 | Eco/Invest/Demography, International News, Risk Management
The announcement comes a day after the government said it had won “a degree of understanding” from the fishing industry over the release of the water into the Pacific Ocean, even as fishing groups said they still feared the reputational damage would ruin their...
by AIP Online Bureau | Aug 23, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Attacks by Russian forces on agricultural infrastructure in recent weeks have helped sustain sky-high insurance premiums for ships calling into Ukraine Current market rates for war risk insurance can be anywhere between 3% and 5% of the value of a ship, meaning there...
by AIP Online Bureau | Aug 23, 2023 | Climate, Environment, Renewable Energy, Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance
More than two-thirds of the insured losses were as a result of severe thunderstorms in the US. The 12-figure threshold is likely to be passed even though just $5 billion of the $40 billion in damages caused by the year’s most devastating event — the earthquake that...
by AIP Online Bureau | Aug 23, 2023 | Indian News, Non-Life, Policy, Risk Management, Technology
Under the new system, cars will be assigned a rating of one to five stars based on crash tests and other safety parameters, to help buyers make an informed decision and encourage car makers to upgrade their safety standards.The move is also expected to bring cars in...
by AIP Online Bureau | Aug 22, 2023 | Intermediaries, International News
“The addition of Honan’s highly complementary capabilities, particularly in corporate risk and strata insurance, will enable Marsh to deepen the specialist expertise we provide to clients across Australia and New Zealand,” Nick Harris, chief executive officer of...
by AIP Online Bureau | Aug 22, 2023 | Features, Health, Technology
“Designed with people at the center, digital technology can make health services more personal, prevent healthcare costs from increasing, reduce differences in care, and make the job easier for those who provide health services,” said Mamta Murthi, Vice President for...
by AIP Online Bureau | Aug 22, 2023 | Eco/Invest/Demography, International News, Technology
An explosion of interest in generative AI and its chatbot applications has sparked fears over job destruction, similar to those that emerged when the moving assembly line was introduced in the early 1900s and after mainframe computers in the 1950s. However, the study...
