by AIP Online Bureau | Sep 30, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
Oxford Economics estimated that a strike would cost the US economy $4.5 billion to $7.5 billion a week — a hit to gross domestic product that would be reversed after it’s over and shipments resume The world’s top container carrier is urging customers to move US cargo...
by AIP Online Bureau | Jun 10, 2024 | Eco/Invest/Demography, International News, Non-Life, Policy, Risk Management
Russia has shipped about 3.4 million barrels a day of crude so far this year, valued at about $37 billion at the point of export, and working around western sanctions has been part of that The first Russian oil tanker attempting to deliver crude while under US...
by AIP Online Bureau | May 14, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
Sam Warnes, Director Marine Cargo commented, “This facility complements our other cargo war offerings such as our Black Sea Grain facility and $300m facility offering cover in the Red Sea and other high risk war areas.” London: WTW, a leading global advisory, broking...
by AIP Online Bureau | Apr 17, 2024 | Disaster & Management, International News, Non-Life, Reinsurance, Risk Management
General average is a maritime legal concept usually written into bills of lading or other contracts signed among parties to shipping transactions. It revolves around the principle of shared sacrifice and dates back to ancient times, before insurance, when ships often...
by AIP Online Bureau | Apr 17, 2024 | Eco/Invest/Demography, Intermediaries, International News, Non-Life, Reinsurance, Risk Management
Howden said the new product was the “first dedicated insurance coverage of its kind to protect cargo vessels within an active conflict zone, which encompasses the Bab al-Mandab Strait, the Red Sea, and the Indian Ocean” LONDON: Howden has started offering...
