Henan Province in central China has launched a pilot scheme for catastrophe insurance in the wake of the massive floods in July 2021 that cost the province economic losses in the billions of yuan.
Swiss Re Institute says in a new sigma report released yesterday that it expects scaled-back government benefits and declining asset values to erode insurance resilience overall while insurance protection is still growing strongly in 2022.
Australian Reinsurance Pool Corporation (ARPC) yesterday published initial premium rates and the reinsurance agreement relating to the Cyclone Reinsurance Pool ahead of the scheme commencing operations on 1 July 2022.
The National Human Rights Commission (NHRC) headed by Justice Arun Mishra, has suggested amending the Motor Vehicle Act, 1988 to provide for mandatory purchase of personal accident cover for an amount not less than INR1.5m ($19,000) for each driver, co-driver and helper of a commercial truck.
Allianz Asia Pacific (Allianz) and The Hongkong and Shanghai Banking Corporation (HSBC) yesterday announced a 15-year extension of the bancassurance distribution agreement covering six markets in Asia.
Turkish conglomerate Dogan Holding's new insurance subsidiary, Hepiyi Sigorta, started operations this month, after obtaining its licence on 27 May 2022 to operate in all non-life insurance branches.
PERILS, the independent Zurich-based company providing industry-wide catastrophe insurance data, has extended its market coverage to include exposure and event loss data for the perils of wind and flood in Japan.
Dhipaya Insurance has a track record of strong operating performance with a five-year average combined ratio and operating ratio of 80% and 70%, respectively (2017-2021), points out AM Best.
New data show that the destructive flood that swept through southeast Queensland and northern New South Wales in late February and early March has caused A$4.8bn ($3.3bn) in insured damages and is now the third costliest extreme weather event in Australia's history.
The owner of the Jumbo Floating Restaurant says it will not be receiving any insurance payout after the restaurant capsized on 18 June, less than a week after being towed away from Aberdeen Harbour and into the South China Sea.