The government has notified the move, on Friday, saying that the...
Category:
Reinsurance
Latest
Iran says Hormuz ‘completely open’ for duration of ceasefire,Shipping companies remain cautiously
“In line with the ceasefire in Lebanon, the passage for all...
Global Cat Report:Q1 of 2026 records $37 bn of economic losses and $20 billion of insured losses
The report highlights Q1 economic losses of at least $37 billion...
Strengthen cyber and operational resilience amid geopolitical tensions: Nasscom
According to Nasscom, several companies have begun activating or reviewing business continuity plans for operations linked to affected countries to ensure uninterrupted service delivery in the event of regional disruptions.Organisations are also prioritising employee...
US’s DFC announces $20B plan for Maritime Reinsurance in the Gulf
Working alongside CENTCOM, DFC coverage will offer a level of security no other policy can provide. We are confident that our reinsurance plan will get oil, gasoline, LNG, jet fuel, and fertilizer through the Strait of Hormuz and flowing again to the world,said DFC...
Reinsurers scrap war-risk cover after US torpedoes Iranian ship
Indian insurers and reinsurers have canceled hull coverages in war-affected areas after GIC Re flagged its seven-zone hull war-risk plan, effective March 1. The amended plan designates high-risk waters including Pakistan, the Persian Gulf, and Iran, besides...
Maritime insurance premiums surge as Iran conflict widens,in some cases by more than 1,000%
Analysts at Jefferies estimated on Thursday that potential industry losses from at least seven vessels reported damaged, at the time its note was published on March 5, could reach up to $1.75 billion. With most tankers valued between $200 million and $300 million, the...
EU countries give final approval to 2040 climate target for 90% emissions cut
In practice, the target will require an 85% emissions reduction from European industries against 1990 levels. The EU will pay developing countries via carbon credits, so they cut emissions on Europe’s behalf to make up the rest, to reach 90%.As part of the agreement,...
Missile fire hinders Middle East rescue flights as airspace edges open
While major carrier Emirates said on Friday it was targeting “a return to 100% of its network” in the coming days, EU aviation regulator EASA extended a warning about high risks until March 11. Emirati airlines resumed some flights to global cities from the war-hit...
More tankers come under attack as US-Iran conflict spreads in the region
Around 200 ships, including oil and liquefied natural gas tankers as well as cargo ships, remained at anchor in open waters off the coast of major Gulf producers, according to Reuters estimates based on ship-tracking data from the MarineTraffic platform. More tankers...
Strait of Hormuz shipping is at near-total halt, JMIC says
A review of shipping signals have confirmed only two commercial transits in the past 24 hours, the Joint Maritime Information Center said in note on Friday. Those crossings were cargo ships rather than oil tankers, according to the multinational naval advisory group...
London marine insurers still offering Middle East cover as War Risk rates rise: Gallagher
“Given the challenging maritime security environment, rates have increased from levels that owners and charterers will be used to.The cost will vary depending on the vessel type, cargo and routing, however marine insurers are very much continuing to provide cover and...
India may secure US marine cover for vessels shipping oil from Middle East
U.S. President Donald Trump has ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade in the Gulf. New Delhi:India is in talks with the United States to secure marine cover for...