Specialty
Tighten up Red Sea precautions, P&I clubs say
Threat levels elevated for vessels that have previously called at Israeli ports or are perceived to have associations with Israel
Miller swoops on Marsh for marine buildout in Korea
New marine team in Korea will be led by KyungSeop Shim as head of specialty
Travelers named as insurer that declined Eternity C war risk cover
Shipowners slam underwriter’s reluctance to write business despite accepting annual placement
Vessel Protect has 100% war risk line on Magic Seas
Handymax hit by Houthis on July 6 has estimated hull value of close to $40m
Insurance Day publishes energy risks special report
Latest special report features leading industry figures from re/insurers and brokers
Hail poses growing threat to solar projects, Axis warns
Carrier highlights the significant financial risks hail poses to solar energy projects and urges better risk management and technology adaptations
Renewable market softens as traditional capacity enters
Rates down 10% in first quarter, amid increased competition from carriers in the traditional energy space looking to remain relevant
US politics poses latest threat to wind energy: McGill’s Sexton
‘The development of new offshore wind projects in the US is pretty much dead for the next four years,’ McGill and Partners’ head of renewables, power and energy, Tom Sexton, says
Aviation rates remain stable despite losses: Gallagher
High levels of capacity and healthy underwriting appetite continued to drive the market despite a challenging loss environment
Russia planes ruling ‘an earnings event’: Fitch
Last month the UK High Court ruled war risk insurers must pay out on trapped planes
Aviation lessor ruling ‘unlikely to have an immediate market impact’
Insurers were likely well prepared for the court judgement and the war risk market has already been hardening, broker Price Forbes says
Geopolitical risk and war ‘biggest threat to aviation insurers’
International Union of Aerospace Insurers survey also identifies an increase in natural catastrophe, supply chain problems and a lack of skilled personnel as key concerns
IUA to spotlight London market claims expertise: Jones
The claims service is the ‘calling card’ of the London market, but more needed to be done to promote the talent on offer, the association’s new chief executive says
Gallagher adds power to smart tracker facility
Broker extends Lloyd's-backed follow-form facility with capacity for conventional power risks
Price Forbes adds construction cover to Lectio
Broker continues expansion of cross-class facility
Coface approved for Lloyd’s trade credit syndicate
Syndicate 2546 will be managed by Apollo and is expected to begin underwriting later this year
Axa XL survey foresees slowdown in credit and political risk
Easing inflation and lower prices indicate post-pandemic growth spurt is cooling
Raising the stakes in political violence
Aegis London’s $100m political violence consortium comes at a time when traditional insurers have been heading for the exit, according to war and terrorism class underwriter, James MacDonald
Regulation tops worries for transport sector
Geopolitical disputes prompt concerns about business disruption, WTW survey finds
Re/insurers face new age of political risk
The increasing importance of geopolitical factors in business decision-making has led to a transformation of re/insurers from passive risk managers to active geopolitical intelligence agents
WTW launches $200m cargo facility
New facility is designed to safeguard cargo owners from geopolitical risks such as terrorism, war and political violence
LA protests force rethink of SRCC coverage
Recent unrest in Los Angeles has reignited concern over the insurance industry's approach to strikes, riots and civil commotion cover, exposing definitional grey areas, silent coverage risks and an urgent need for modernised risk assessment tools, according to experts
Optio returns to PVT market with new offering
Lloyd's-backed product offers a $150m limit
Aegis doubles capacity for digital terrorism product to $500m
Lloyd's consortium-backed product now suitable for larger organisations with significant exposure to terrorist risks
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