by AIP Online Bureau | Jul 24, 2023 | International News, Non-Life, Reinsurance, Workplace/Employee Benefits
Additional war risk insurance premiums, which are charged when entering the Black Sea area, need to be renewed every seven days. They already cost thousands of dollars and are expected to go up, given also the risk of floating mines War risk cover for Russia’s...
by AIP Online Bureau | Jul 17, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
“Annual cover remains in place but voyages to listed areas will be assessed individually as and when seen,” Neil Roberts, head of marine and aviation at Lloyd’s Market Association, which represents the interests of all underwriting businesses in Lloyd’s. Insurers are...
by AIP Online Bureau | Jul 14, 2023 | Eco/Invest/Demography, International News, Non-Life, Policy, Reinsurance
The EU is considering connecting a subsidiary of the Russian Agricultural Bank (Rosselkhozbank) to the international payment network SWIFT to allow for grain and fertilizer transactions, sources familiar with discussions told Reuters on Wednesday. The European...
by AIP Online Bureau | Jul 5, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Russia says the severing of the bank’s access to SWIFT is one of the obstacles facing its own exports of food and fertiliser, and that it cannot keep renewing the Black Sea deal unless those issues are addressed Russia on Tuesday restated a demand for its state...
by AIP Online Bureau | May 18, 2023 | International News, Non-Life, Reinsurance
Officials from Russia, Ukraine, Turkey and the U.N. make up a Joint Coordination Centre (JCC) in Istanbul, which implements the Black Sea export deal. They authorize and inspect ships. No new vessels have been authorized by the JCC since May 4 The Ukraine Black Sea...
