by AIP Online Bureau | Aug 2, 2023 | International News, Non-Life
Lessors are suing dozens of insurers around the world for billions of dollars after more than 400 planes were unable to leave Russia due to Western sanctions in response to Moscow’s invasion of Ukraine that forced the termination of their leases Some of the world’s...
by AIP Online Bureau | Jul 25, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Since the collapse of the grain corridor deal and the increased targeting of ports and infrastructure by Russia, war risk underwriters were “forming their own independent views and deciding what is it is they are prepared to underwrite,” David Smith, head of hull and...
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...
