New environmental fund in Finland
Starting on January 1, 2025, Finland will implement the Finnish Environmental Damage Fund, ensuring compensation for environmental damage caused by specific high-risk activities. This initiative aims to shift the financial burden of such damages away from taxpayers and onto the businesses [...]
Mandatory Natural Disaster Insurance for Businesses in Greece
From January 1, 2025, Greek law 5116/2024 will require companies with a certain annual turnover to take out insurance against natural disasters. This law, designed to safeguard business continuity, aims to ensure that natural disaster-related financial losses are borne by insurance [...]
Argentina: New incentive program for large investments
Argentina recently introduced the Incentive Regime for Large Investments (RIGI), an ambitious federal initiative designed to attract substantial investments across multiple sectors, including forestry, tourism, infrastructure, mining, technology, steel, energy, and oil and gas. Launched by Law 27.742 and effective from [...]
Zurich entered Indian insurance market for the first time
Zurich Insurance Group is making a significant move into the Indian insurance market by acquiring a 51% stake in Kotak Mahindra General Insurance for ₹4,051 crore (approximately $500 million). This investment is part of Zurich's broader strategy to expand its presence [...]
NATCAT in France: Updates
In France, the Natural Catastrophe Compensation Scheme, commonly known as NATCAT, has been a cornerstone of disaster management since its establishment in the 1980s. This scheme guarantees compensation for material damage caused by natural phenomena such as floods, droughts, and more. [...]
How to Prepare for Typhoon Season in China
Typhoons pose a significant threat in China, causing substantial damage each year. Did you know that the average annual economic loss due to natural disasters in China amounts to approximately $76 billion? Imagine your business facing such a catastrophe. Being unprepared [...]
Expertise in the Azerbaijan market- CINCo Group
Azerbaijan Population 10,2 mln GDP 72.4bn USD GDP Growth 1.1% GDP Growth (Industry) 3.7% Inflation 8.8% Azerbaijan's main industries are: Oil and natural gas Petroleum products Oilfield equipment Steel Pig iron Cement Chemicals Petrochemicals Textiles [...]
India – De-notification of certain Tariffs
India’s Insurance industry is one of the premium sectors experiencing upward growth. This upward growth of the insurance industry can be attributed to growing incomes and increasing awareness in the industry. India is one of the top 10 largest non-life insurance [...]