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LIABILITY EXCESS OF LOSS REINSURANCE
A cedant (large insurer in a large market) bought a
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TREATY REINSURANCE FOR PROJECT INSURANCE PORTFOLIO
Sydney Opera House is a famous landmark. Its construction was
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ISSUES WITH LONG-TERM NON-LIFE POLICIES
One of the very common Long-term non-life policies are Project
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CAT XL ON RISK ATTACHING DURING (RAD) BASIS
Normally CAT XL is bought on a Loss Occurring During
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Bermuda
Bermuda reminds us of beatiful beaches as well as the
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POLITICAL RISK EXCLUSION UNDER REINSURANCE TREATIES
Political risk is normally excluded under most reinsurance treaties. Political
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NON-STANDARD CLAIMS Breach of warranty gives right to the insurers to void the contract and avoid the claim. Even considering
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Sunday Blog. After all the insurance topics all these days, probably a non-insurance topic may be better for a Sunday.
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In simple words, a Captive Insurance company is one in which the insurer is wholly owned by the insured. Most
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Eid Mubarak Friends of Mad Over Insurance across the world. Eid ul Fitr marks the end of the holy month
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The Insurance Information Bureau is a body to analyzes insurance data in India. One of the objectives of IIB is:
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Health Insurance in 2023-24 constitutes over 40% of the non-life insurance premium. It includes Individual Health, Group Health, Government Schemes
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The following are the loss ratios of Group Health for the four-year period from 2019-20 to 2022-23: Public Sector: 106%,
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Health Insurance is a long-term product. Non-Life Insurers mindset is short-term. They are used to annual policies. They have inability
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I had bought an indemnity-based health insurance policy from a life insurer in 2009. That was the short period in
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Star Health Insurance: Quarter 3 FY 2023-24 Results Analysis Topline Growth:16.5% Bottomline Growth: 38.1% Brilliant results in an industry
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The General Insurance Council introduced “Cashless Everywhere”. Health insurance customers can choose from over 40,000 hospitals across India to get
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14th & 15th December 2023, BSE Index went up by around 2%. However, Listed Life Insurers on an average fell
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Let’s consider the below news that appeared in 2016: QUOTE An arbitration tribunal in Singapore has ruled in favour of
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In yesterday blog, I mentioned about the Section Warranty. I had mentioned one of the many wordings used by the
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We see large number of Warranties and Clauses in Project Insurance Policies. Wordings of these Warranties and Clauses are brilliantly
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CAR and EAR policies are Project Insurance Policies. In projects, Contractors Plant and Machinery (CPM) like Cranes, Forklifts, etc are
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In my 35 years journey in non-life insurance, I have seen many insureds declaring their sum insured based on their
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In a Laghu Insurance Policy, the schedule mentions that Building Covered for Rs 10 crores. – The definition of Building
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IRDAI has completely withdrawn the tariffs. Pricing was freed earlier, now even the wording has been completely freed. There is
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A risk has been covered under the Fire Policy. It had a Reinstatement Value Clause. A fire took place, and
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Insurers prefer to use “Turnover” as an index of activity compared to “Output”. However, some clients insist on an Output
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Terrorism coverage under the standalone Terrorism and Sabotage Insurance Policy is defined as: “An Act of Terrorism means an act
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A cedant (large insurer in a large market) bought a Liability XOL covering CGL, WC, D&O, E&O, Crime, etc. It
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Sydney Opera House is a famous landmark. Its construction was started in 1958 and scheduled to be completed in 1963.
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One of the very common Long-term non-life policies are Project Insurance. Engineering underwriters are very comfortable with giving long term
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Normally CAT XL is bought on a Loss Occurring During (LOD) basis. Let’s discuss the impact if a cedant decides
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Bermuda reminds us of beatiful beaches as well as the Bermuda Triangle (Devil’s Triangle). Hurricane Katrina in 2005 was the
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Political risk is normally excluded under most reinsurance treaties. Political risks include War, Civil war, mutiny, terrorism, sabotage, nationalization, currency
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Why should any individual buy a particular insurance policy? Insurance is a Risk Management tool. If an incident in the
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If we leave the Motor, Health, and Crop portfolio, Fire is the largest portfolio for any Indian Insurer. It is
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Insurance losses develop over years. Estimates of outstanding losses at end of each financial year are provided by each insurance
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