Kathmandu — The Asian Development Bank (ADB), the World Bank Group’s International Development Association (IDA), and the Swiss Agency for Development and Cooperation (SDC) have signed a three-year Memorandum of Understanding (MoU) reaffirming their shared commitment to support the...

Belém – Amid rising heatwaves and surging cooling demand, adopting sustainable cooling – with a strong focus on passive techniques low-energy and hybrid cooling that combines fans and air conditioners that consume little or no power – could cut...

The United Nations Environment Programme (UNEP) has proposed the creation of an International Taskforce on Climate Resilience and Transition Insurance following its Forum for Insurance Transition (FIT). The initiative aims to bring together insurers, regulators, governments, businesses, civil society,...

Washington — Jamaica will receive a full payout of $150 million under its catastrophe insurance with the World Bank following Hurricane Melissa. The payout comes from a catastrophe bond issued in 2024 by the World Bank (IBRD, AAA/Aaa). Third-party...

New Delhi — The Life Insurance Corporation of India (LIC) has categorically denied allegations made in a recent Washington Post report that claimed India’s Finance Ministry expedited a plan to channel nearly $3.9 billion (₹33,000 crore) of the state-owned...

A new insurance solution aimed at mitigating pandemic-related financial losses for businesses has been launched through a collaboration between Gallagher Insurance Brokers, New India Assurance, and Munich Re. The first-of-its-kind parametric pandemic insurance policy was issued to The Phoenix...

Paris — French authorities have estimated the losses from the dramatic Louvre Museum robbery at nearly €90 million, as investigators intensify their hunt for the criminal gang behind one of France’s most daring heists in decades. According to Paris...

Paris — In one of the most shocking art heists in recent history, thieves have stolen eight priceless royal jewels from Paris’s Louvre Museum — and none of the items were insured. According to France’s Ministry of Culture, the...

Global reinsurance leader Munich Re has issued a strong warning about the widening cyber insurance protection gap, calling it not only a strategic priority for the insurance sector but a “critical societal responsibility.” Speaking at its 2025 Baden-Baden breakfast...

New Delhi – The Government of India has initiated early discussions with local insurers to develop a nationwide climate-linked insurance program aimed at providing prompt financial assistance following extreme weather events, such as floods, heatwaves, and cyclones. The proposed...