Premiums already up 200% after Galaxy Leader hijack and likely to get firmer this week
Red Sea transits unavoidable for Suez Canal users and even a rise of a fraction of a percentage point could add hundreds of thousands of dollars to cost of a trip
The Russian invasion of Ukraine and the Hamas attack on Israel underline the crucial contribution insurance makes to allowing seaborne trade to continue when conflicts are in full flow
Calls to Israel attract additional premiums in the order of 0.25%-0.5% of hull value, market sources report
Page to lead combined operation as Dávila exits
Hezbollah involvement, missile attacks from Yemen, and Egyptian crisis leading to Suez shutdown among scenarios being considered by marine insurers
Lack of Hamas naval and mine-laying capacity means prices are unlikely to go as high as the Ukraine precedent
Australian insurance giant appoints Hamlat from Marsh to develop the business
Global reinsurers are redirecting capacity to other markets, leading to shortages across many lines in Africa, Mikir Shah says
Re/insurance for the oil blocks on offer is deemed to be expensive due to the shrinking primary insurance available to oil and gas companies, environmental group says
The local South African insurance market has largely excluded grid failure risk because of the country’s unstable power infrastructure but some large accounts led by international markets are thought not to be carrying the exclusions, giving rise to the threat of significant loss aggregation
Parent company QIC is moving away from high-severity and volatile international risk
The loss aggregator has estimated insured losses of $4.9bn at February exchange rates
Amit Tiwari is a co-founder of Xceedance and one of the company’s original 13 team members
Global commercial insurer says Bidmead has ‘extensive knowledge of the intricacies of M&A transactions’
Crypto insurer buys South African-based Bitsure
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