India’s foreign ministry spokesperson, Randhir Jaiswal, said...
Category:
Reinsurance
Latest
Wildfires, storms, floods contribute to record 92% of global insured losses in 2025:Swiss Re
``According to our modelled peak-loss scenario, insured losses...
West Asia Crisis: Higher underwriting uncertainty in global terrorism and political violence insurance markets
For insurers and reinsurers, the key issue is not only the...
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...
Lloyd’s market engaging with US government over Gulf maritime plan, officials say
“Lloyd’s is engaging constructively with the U.S. Development Finance Corporation and relevant stakeholders, with a clear focus on ensuring that the Lloyd’s market continues to lead as the global center of excellence for war risk insurance,” a Lloyd’s spokesperson...
Marsh and Aon in talks with US govt on a plan to help insure tankers navigating Strait of Hormuz
President Donald Trump said on Tuesday the US International Development Finance Corporation would offer insurance “at a very reasonable price” to help ensure the flow of energy and other commercial trade in the Gulf. Marsh and Aon Plc, two of the world’s largest...
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...