by AIP Online Bureau | Mar 3, 2026 | Indian News, Non-Life, Reinsurance
There were no injuries, and all personnel at the terminal remain safe. The remaining fourteen tanks have been secured. Adequate insurance coverage for the facility is already in place. Mumbai:JSW Infrastructure has said that one of its storage tanks at the company’s...
by AIP Online Bureau | Mar 3, 2026 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Jeremy Nixon, the CEO of Ocean Network Express, said Monday there were about 750 ships caught up in what was effectively the closure of the Strait of Hormuz, with about half of them inside of the Gulf and half on the way there. About 100 of those are container ships,...
by AIP Online Bureau | Mar 3, 2026 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
War risk premiums have risen up to 1% of the value of a ship in the past 48 hours, from around 0.2% last week, industry sources said on Monday, which adds hundreds of thousands of dollars in costs for every shipment Insurance companies are canceling war risk coverage...
by AIP Online Bureau | Mar 3, 2026 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Airlines have aviation war cover for their fleets, including damage to aircraft and liability, but revenue losses from operational disruption typically fall under business insurance policies that include war exclusions, leaving airlines to foot the bill, a second...
by AIP Online Bureau | Mar 3, 2026 | Eco/Invest/Demography, Indian News, Risk Management
The attacks have also effectively brought oil and LNG shipments through the Strait of Hormuz to a near halt, driving up global energy prices as well as sharply raising war-risk insurance and shipping costs. New Delhi:In a first such event, after Iran has attacked...
