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Zurich, 28 March 2011 — According to Swiss Re’s latest sigma study, worldwide economic losses from natural catastrophes and man-made disasters were USD 218 billion in 2010, more than triple the 2009 figure of USD 68 billion.  Read more
Since the global financial crisis in 2008, capital injections into Indian life insurance companies have fallen off significantly. The level of capital injections dipped from Rs.8,170 crores in FY2008-09, to Rs.4,152 crores in FY2009-10, and down to Rs.2,156 crores in the nine months of FY2010-11.
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Royal Sundaram Alliance Insurance Company Ltd (www.royalsundaram.in ), the first private sector general insurance company to be licensed in India, today announced the infusion of Rs. 65 Crore of additional capital (including premium). Read more
Taking a cue from the success of it’s 48-hour fund claim campaign for Unit Linked Insurance Policies, Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and AXA, world leader in financial protection; has added new service initiatives to assist its customers in every stage of insurance. Read more
Last week the United Nations Security Council passed a resolution on enforcing a no-fly zone over Libyan airspace and its intention to prevent attacks on the civilian population by the Libyan regime. Resolution 1973 “demands the immediate establishment of a ceasefire and a complete end to violence and all attacks against, and abuses of, civiliansâ€. It
Read moreDisasters disrupt progress and destroy the hard-earned fruits of painstaking developmental efforts, often pushing nations, in quest for progress, back by several decades. Thus, efficient management of disasters, rather than mere response to their occurrence has, in recent times, received increased attention both within India and abroad. This is as much a result of the recognition of the increasing frequency and intensity of disasters as it is an acknowledgement that good governance, in a caring and civilised society, needs to deal effectively with the devastating impact of disasters. Read more
We are listing here the costliest insured losses due to earthquake in Japan and the whole world. Read more
Swiss Re estimates claims costs of USD 1.2 billion, net of retrocession and before tax.Â
Estimates subject to high degree of uncertainty due to complexity of loss assessment. Read more
The use of internet is growing rapidly in India. Buyers of Insurance products increasingly access / visit websites to know the features and to compare prices of the products offered by different insurers.
Read moreThe IRDA had conducted an audit of the Third Party Motor Insurance Pool and has established that the pool reserves have to be significantly augmented in order to meet the higher compensation to be paid to the unfortunate victims of road accidents. Such augmenting of reserves will strengthen the insurance companies and will enable them to meet all claim obligations at all times expeditiously and without fail.
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