Designed for tunnel owners, developers and contractors, the cover funds specialist rescue and crisis-response operations following major underground incidents.
At least 177 have died and 826 are unaccounted for, with insurers estimating early claims for hydropower and construction projects at least in the hundreds of millions of rupees.
Risk-adjusted capitalisation is expected to remain at its strongest level, but the agency noted that volatile cover and a small net premium base have kept underwriting profitability subdued over the past...
The joint venture between vrs Adjusters and Uchiyama Loss Adjusting, announced in April, coordinates cross-border claims for Japanese insurers and corporates across Asia-Pacific.
