by AIP Online Bureau | Jan 1, 2023 | Eco/Invest/Demography, International News, Policy
The term “unfriendly” describes countries that have imposed sanctions on Russia in response to its military intervention, including members of the European Union, the United States, Japan, Canada, Britain and Australia A bill that would have enabled...
by AIP Online Bureau | Dec 30, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
At least 12 of the 13 organizations within the International Group of P&I Clubs — the main insurer of risks such as collisions and spills — have changed their policies to exclude claims stemming from Russia’s invasion of Ukraine in recent days. The 13 clubs are...
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...
