Ships sailing through the strait need to pay an additional war risk...
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Swiss Re profit beats estimates with cost cutting
Andreas Berger, Chief Executive Officer, Swiss Re Lower major...
Global Shipping groups urge UN to reject any compulsory transit tolls in Hormuz
“Once such a precedent is established, it becomes increasingly...
Optimism after first talks as US waives Iran sanctions and Lebanon fighting abates
Iran and the US have set up a communication line to “avoid incidents and miscommunication” related to maritime traffic through the Strait of Hormuz, where shipping volumes have picked up in recent days, even if they’re still far off pre-war levels. BUERGENSTOCK,...
Iran declares Hormuz closure over Lebanon fighting, US says waterway remains open
U.S. President Donald Trump, in response, threatened to impose American tolls in the crucial waterway if a final deal with Iran isn’t reached in 60 days, saying the money would be for “services rendered as the Guardian Angel to the countries of the Middle East.” TYRE,...
Insurance intermediaries must report big commission payments, Publish details online: IRDAI
In a move aimed at strengthening oversight of sales practices, IRDAI has proposed that every branch of a Corporate Agent designate at least one Specified Person (SP) responsible for supervising solicitation activities at that location. The regulator has also proposed...
Lloyd’s:A new marine war risk consortium launched to support Strait of Hormuz shipping
The new marine war risk consortium will issue primary policies for vessels and cargo. It will provide up to $200 million of capacity separately for hull and P&I risks, with an additional $200 million of dedicated cargo capacity. Chubb will serve as lead...
ICICI Lombard General to act as Lloyd’s local partner in India
Under this new agreement, ICICI Lombard will issue local policies on behalf of managing agents for selected lines of business. Managing agents can request local policies through the Multinational team, who will coordinate directly with ICICI Lombard to produce the...
Stranded ships transiting the Strait of Hormuz:Lloyd’s List
In a media briefing, Richard Meade, editor in chief of Lloyd’s List, said for the first time in 110 days, ships owned by major companies are transiting the strait after effectively being marooned there since February London:Major shipowners have begun moving vessels...
Cyber scams rise sharply across Asia: Interpol
The report comes as governments across Asia are grappling with an explosion in online fraud fueled by sprawling scam networks that monitoring groups say increasingly operate across borders and generate tens of billions of dollars a year. Once concentrated in parts of...
Emirates adds War Cover amid gulf rebound
The product includes medical coverage for conflict-related incidents, with airline-managed hotel accommodations and support for extended stays, according to the statement. Emirates also will rebook connecting services for affected passengers at no extra cost, even if...
US and Iran presidents sign ceasefire agreement, but Trump says he could still resume attacks
The memorandum includes an immediate end to the war on all fronts, including Lebanon, the full resumption of maritime traffic in the Strait of Hormuz, the lifting of a U.S. blockade of Iranian ports, the waiving of international sanctions on Iran, the unfreezing of...
Govt completes 5% OFS in GIC Re, including 3% green-shoe option: DIPAM Sect
Sharing the outcome of the stake sale on social media platform X, DIPAM Secretary said, "Offer for Sale (OFS) in GIC Re closed with enthusiastic response from the investors. Government of India has divested 5.0% per cent of its stake in GIC Re with full subscription...