by AIP Online Bureau | Dec 29, 2022 | International News, Non-Life
UK P&I Club said on Dec. 23 that the issue had arisen because of a lack of availability of reinsurance for reinsurers, also known as retrocession “The Club’s reinsurers are no longer able to secure reinsurance for war risk exposure to Russian, Ukrainian or Belarus...
by AIP Online Bureau | Dec 16, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Since Dec. 5, buyers of cargoes from Russia have only been allowed to access industry standard insurance and an array of trade-critical services if they pay $60 a barrel or less There are tentative signs that oil tanker companies are avoiding sending their ships to...
by AIP Online Bureau | Dec 13, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
“We are not willing and will not provide short-term P&I (Protection and Indemnity) coverage for vessels caught up by the new Turkish regulations at the mouth of the Bosphorus,” Ingosstrakh said Russian insurer Ingosstrakh said on Monday it has no plans to offer...
by AIP Online Bureau | Nov 23, 2022 | International News, Non-Life, Reinsurance
The cap, which is also backed by the European Union, would ban companies from providing services, including shipping and insurance, to Russian oil shipments anywhere in the world, unless it’s sold below the agreed threshold Russia doesn’t plan to supply crude or oil...
by AIP Online Bureau | Nov 15, 2022 | International News, Non-Life, Reinsurance
The insurers named in the proceedings, which the filing shows were issued on Nov.3, include Lloyd’s of London Ltd., AIG Inc., Chubb Ltd. and Swiss Re AG. Leasing firms have begun pursuing claims over huge losses since losing control of more than 400 leased planes...
