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Marine

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

International Marine

Miller swoops on Marsh for marine buildout in Korea

New marine team in Korea will be led by KyungSeop Shim as head of specialty

South Korea Specialty

Travelers named as insurer that declined Eternity C war risk cover

Shipowners slam underwriter’s reluctance to write business despite accepting annual placement

London Specialty

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

London Specialty
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Energy

Insurance Day publishes energy risks special report

Latest special report features leading industry figures from re/insurers and brokers

Energy International

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

Axis Capital Specialty

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

International Specialty

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

International Special Report
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Aviation

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

International Specialty

Russia planes ruling ‘an earnings event’: Fitch

Last month the UK High Court ruled war risk insurers must pay out on trapped planes

Reinsurance Specialty

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

London Lloyds

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

International Specialty
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Specialty

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

London Specialty

Gallagher adds power to smart tracker facility

Broker extends Lloyd's-backed follow-form facility with capacity for conventional power risks

Broker Distribution

Price Forbes adds construction cover to Lectio

Broker continues expansion of cross-class facility

London Broker

Coface approved for Lloyd’s trade credit syndicate

Syndicate 2546 will be managed by Apollo and is expected to begin underwriting later this year

London Lloyds
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Political Risk & Trade

Axa XL survey foresees slowdown in credit and political risk

Easing inflation and lower prices indicate post-pandemic growth spurt is cooling

International Specialty

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

London International

Regulation tops worries for transport sector

Geopolitical disputes prompt concerns about business disruption, WTW survey finds

North America International

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

International Chaucer
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Terrorism

WTW launches $200m cargo facility

New facility is designed to safeguard cargo owners from geopolitical risks such as terrorism, war and political violence

International Willis Towers Watson

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

North America United States

Optio returns to PVT market with new offering

Lloyd's-backed product offers a $150m limit 

London Specialty

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

London Lloyds
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