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Assam and Orissa flood remain grim; IMD predicts heavy rainfall in Arunachal, Nagaland,Mahanadi water levels continue to rise
A crop area of 21,523.08 hectares remained submerged in Assam. More...
ICICI MF buys 1% stake in Go Digit General Insurance for ₹139 cr
The transaction was executed on Wednesday at an average price of Rs...
Commerce, shipping ministries hold consultation meeting amid West Asia tensions; Inter-Ministerial Group for supply chain resilience created
"In this context, the 'Inter-Ministerial Group (IMG) for Supply Chain Resilience' has been created, comprising members from Department of Financial Services, Ministry of External Affairs, Ministry of Shipping, Ports & Waterways, Ministry of Petroleum & Natural...
Trump orders oil tanker insurance support, says Navy could escort ships in Gulf
President Donald Trump Shipping companies and insurers have begun reassessing their exposure to the region. War-risk premiums have jumped and some providers have scaled back or withdrawn coverage, industry.Higher insurance costs have made it more expensive for tankers...
“Too early to assess economic impact on region, global economy”: IMF on West Asia conflict
The IMF also mentioned that it has "observed disruptions to trade and economic activity, surges in energy prices, and volatility in financial markets.The situation remains highly fluid and adds to an already uncertain global economic environment," it said in a...
Middle East Conflict Risks:Global reinsurers shielded by robust capital and earnings
There will be sizable insured losses, and the conflict could have far‑reaching implications for the reinsurance industry.The conflict disproportionately affects specialty lines, a segment that insures complex or high‑risk exposures, including war risk, aviation,...
Black Swan scenarios: Crisis of geopolitical instability and interconnected risks
According to new Allianz Risk Barometer analysis,respondents in Asia Pacific identified a global supply chain paralysis and global internet outrage as the two most plausible Black Swan scenarios; the former is ranked first in China and Hong Kong, Singapore, and South...
London marine insurers widen high-risk zone in Mideast Gulf as conflict escalates
Gulf war risk premiums have risen fivefold in recent days compared with a week ago – before the U.S and Israel began their airstrikes on Iran – adding hundreds of thousands of dollars in extra costs for every shipment. London’s marine insurance market has widened the...
‘Black Swan’ risks stalk container carriers in avoiding Iran war
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,...
Iran conflict disrupts global shipping as tankers are stranded, damaged
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...
Insurance gaps leave airlines exposed as Iran conflict widens
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...
Qatar declares force majeure, gas supplies to Indian industry cut amid Iranian strikes
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...