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 20, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Norwegian shipping insurance group DNK, which provides war risk policies, told Reuters on Wednesday it was currently unable to provide cover for Ukraine Russia warned that from Thursday any ships traveling to Ukraine’s Black Sea ports will be seen as possibly carrying...
by AIP Online Bureau | Jul 19, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
“The main task for Ukraine now is to get the support of Turkey,” said Dmitry Skornyakov, chief executive officer of HarvEast Holding. He suggested that military escorts from Turkey could be used for ships entering and leaving Ukraine’s ports Ukraine is pushing for...
by AIP Online Bureau | Jul 18, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
“It is currently on pause,” said David Roe, head of UK cargo at Marsh, which acted as the facility’s broker LONDON: A cargo insurance facility providing cover for Ukraine grain shipments via a safe sea corridor has been suspended after Russia quit...
by AIP Online Bureau | Jul 18, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Any resumption of shipments without Russia’s blessing would probably depend on insurers. Industry sources told Reuters they were studying whether to freeze their coverage “The (key) question is whether Russia mines the area which would effectively cease...
