“India has long been an important market for Berkley Insurance Asia...
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Thailand floods “paralyzed” flow of high tech components and car parts to neighboring Malaysia
The floods are the worst on record for southern Thailand, with the...
D&O Market in 2026:Geopolitics and cyber drive risk exposures
For D&O insurers, the US especially is a highly complex market...
Shipping firms impose surcharges as Red Sea attacks hit global trade
In total, Maersk said a standard 20-foot container travelling from China to Northern Europe now faced an extra charge of $700, consisting of a $200 TDS and $500 PSS. Containers bound for the east coast of North America will be charged $500 each, consisting of the $200...
Shipping costs soar as war and climate risks choke key waterways
This week, provisional chartering rates for a Suezmax tanker to move oil from Iraq to the Mediterranean rose above 90 worldscale points, said shipbrokers. That’s a sharp jump from between 75 to 85 points in provisional bookings made in the past week. These points...
China’s magnitude-6.2 earthquake kills over 100 in impoverished northwest
About 400 people were injured, thousands of buildings collapsed and some infrastructure were damaged, according to state media Beijing: Chinese leader Xi Jinping called for efforts to minimize casualties after an impoverished region in the northwest was hit by an...
More reinsurers will enter the Cyber Market in 2024, predicts New CyberCube Report
While there will be an increase in the frequency of cyber attacks fueled by the proliferation of Artificial Intelligence (AI), the insurance sector will work more closely with SMEs to address their needs. LONDON: Traditional reinsurance companies will start offering...
Miller continues reinsurance growth with appointment of Chris Board
Miller, a specialist (re)insurance broker, has appointed Chris Board to its reinsurance team. He will initially be based in Bermuda and report to Charlie Simpson, Head of Bermuda. Chris’ appointment is part of Miller’s strategic reinsurance build out and follows a...
Lloyd’s of London extends lease on iconic building until 2035
The deal with landlord Ping An Insurance Group, which came together on Friday, not only grants Lloyd’s an option to stay in the Richard Rogers-designed high-rise until 2040, but also involves a commitment to invest in reducing the Grade I-listed building’s energy...
London marine insurers widen high risk zone in Red Sea as attacks surge
Iranian-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea to show their support for Palestinian Islamist group Hamas fighting Israel in Gaza London: London’s marine insurance market has widened the area in the Red Sea it deems as high...
Swiss Re acquires Fathom, a leader in water risk intelligence
Russell Higginbotham, CEO of Swiss Re Reinsurance Solutions, said: "We are very pleased to join forces with Fathom in our quest to narrow the protection gap for natural catastrophe risks, such as floods. Fathom's market-leading research and innovative tools in this...
Red Sea shipping costs rising after Houthis target more commercial vessels
War risk premiums have risen this week to between 0.1%-0.15% to 0.2% of the value of a ship, from 0.07% last week, according to market estimates on Tuesday. While various discounts would be applied, this still translates into tens of thousands of dollars of additional...
Key risk trends for Directors and Officers in 2024: Allianz
Insolvencies are rising, geopolitical uncertainty is considerable, cyber risk is elevated, and ESG claims are here to stay and proving challenging. D&Os need to be prepared for these headwinds and have a strategy that can adapt when presented with a block to the...