THE INSURANCE TIMES Magazine - July 2024

In this issue

In this issue we have covered articles on - Drilling Oil Rig Cendor Mopu, Marine Insurance – Inherent Vice - A Boon or Loss - Historical Maritime Fraud - Dr. Soumi Mukherjee; Insurance - Phobia!! - Vazir Ahmed Khan; Marine Insurance in India: Safeguarding Goods in Transit - Gaurav Arora; Electric Revolution: Insurance in the Era of Electric Vehicles - Subasree Sampath; Underwriter Co-Pilot - Dobi; Business Interruption Beyond Physical Damage - Srivathsan Karanai Margan.
Interview with Sharad Bajaj, COO, InsuranceDekho.com.
We have covered news on General Insurance, IRDAI News, LIC News, Health Insurance News, Private Life Insurance News and International News.

Besides it covers other interesting features.

Drilling Oil Rig Cendor Mopu, Marine Insurance-Inherent Vice A Boon or Loss - Historical Maritime Fraud

Causation is a very important part in marine insurance law. The general principle in English Law is that the insurer will only be liable for any loss, which is proximately caused by a peril insured against. (Marine Insurance Act, 1906, section 55). At the beginning of last century, the determination of the proximate cause in common law was considered to be the nearest in time.

10+ mins

Electric Revolution: Insurance in the Era of Electric Vehicles

EVs are renowned for their advanced software algorithms that control various functions. It is essential to note that when the EVs connect to charging stations, the cable not only transmits power but also exchanges a multitude of data. This expanded risk surface increases the vulnerability to potential cyberattacks, which could involve data theft or the introduction of viruses to manipulate the system.

10+ mins

Underwriter Co- Pilot

Future of Insurance Underwriting with Generative Al

6 mins

Business Interruption Beyond Physical Damage

The purpose of NDBI insurance coverage is to offer financial protection to businesses when their operations are interrupted or suspended due to non-physical loss or damage. Like traditional Bl insurance, NDBI insurance covers a broad range of losses, including loss of income, extra expenses, loss of property or equipment use, loss of market or reputation, and loss of key employees.

8 mins

Rising Insured Losses: Strategies for Effective Water Damage Restoration

Natural disasters caused a staggering global economic loss of US$270 billion last year, with insured losses reaching US$111 billion.

1 min

Legal Update

Neeraj Kumar obtained a whole-life unit-linked insurance policy from PNB MetLife India. Under the policy called \"Met Smart Plus Policy\", which Kumar purchased, his son was insured for Rs 1.75 crore. The policy had a term of 93 years for which the premium was Rs 5 lakh per annum.

2 mins

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THE INSURANCE TIMES Magazine Description:

The Insurance Times, which will be completing glorious 42nd year of successful and regular publication in 2022, is the most authentic information source on insurance in India.

The Insurance Industry under the new regulatory setup is moving forward aggressively.
Every month, the journal covers informative articles and features on both general insurance and life insurance. Besides regular columns for Insurance Regulators, Brokers, Bancassurance, legal, surveyor, agents, students etc; it brings you the latest and updated news of the Indian as well as overseas insurance industry.

Regular features on risk management and safety also keep you abreast of the latest risk management techniques. 

We regularly review the policies issued by life and non-life companies including comparisons of various products.

A special emphasis is given on marketing of insurance both life and general. This journal is a must for all persons connected with insurance companies, corporate bodies, brokers, banks, surveyors, agents, consultants, students, educational institutions and professionals.