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...
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 15, 2023 | Eco/Invest/Demography, Intermediaries, Non-Life, Reinsurance, Risk Management
India and China have been the two dominant buyers of Russian crude since the invasion of Ukraine more than a year ago prompted others to shun the OPEC+ producer. As Urals climbs above the limit set by the Group of Seven, however, importers will face greater scrutiny...
by AIP Online Bureau | Jul 13, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
For some buyers of the Russian flagship crude, the breaching of the cap poses an immediate headache. This is especially true in India, a market that has sustained Russian exports but where some purchasers are still reliant on key Western services to keep imports...
