“Vessel Casualty Report gives details of vessels which have met with some casualty while carrying cargo from one Port to another and which may have resulted in (i) loss/damage to the cargo carried in the vessel or (ii) General Average Loss/Expenditure. Please go through the Casualty Report and check whether your cargo had been carried in any of the vessels mentioned therein and check...

Dear Sir/ Madam, As shared with you a few days back, due to impact of increase in salary in WC Act and hence increase in compensation, there will be an impact on existing policies. All policies issued in 2019 will have to change to ensure its full effectiveness. We hereby share the detailed impact and its solution as follows: Notification...

  US – Iran tension On 3 January 2020, amid rising tensions between the United States and Iran, the U.S. carried out a drone strike on a convoy traveling near Baghdad International Airport, killing Iranian major general Qasem Soleimani of the Islamic Revolutionary Guard Corps (IRGC), commander of the Quds Force and listed as a terrorist by the European Union....

Prior to the amendment, the amount of wages considered in the below calculations was INR 8000. After the amendment, the amount of wages considered in the below calculations is INR 15,000, therefore the amount of compensation is substantially increased, Specified below. Earlier In respect of death claims, the employee compensation act required the employer to pay compensation equal to 50%...

As a part of our duty of updating you on General insurance matters, we bring to your notice that, with effect from 1st January 2020, GIC has initiated some major changes with regard to the underwriting of risks as under for New business as well as renewal in Fire Portfolio. Some new occupancies have been added that were not mentioned...