by AIP Online Bureau | Mar 3, 2022 | International News, Non-Life, Policy, Reinsurance
The world’s biggest container shipping lines on Tuesday temporarily suspended cargo shipments to and from Russia in response to Western sanctions on Moscow in a further blow to trade with the country British ship insurer West of England has withdrawn cover for two...
by AIP Online Bureau | Mar 3, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
The move will leave Russian commercial airlines scrabbling to get cover elsewhere. Industry sources say this could include from Chinese reinsurers, while other western insurers are likely to hold back from the business, fearful of other countries imposing similar...
by AIP Online Bureau | Mar 3, 2022 | Eco/Invest/Demography, International News, Policy, Technology
Russia will treat any hacking of its satellites as a justification for war, the head of the country’s space agency was quoted as saying in a news report on Wednesday Roscosmos head Dmitry Rogozin denied media reports that Russian satellite control centres have...
by AIP Online Bureau | Mar 2, 2022 | International News, Non-Life, Reinsurance, Technology
Larger insurers have taken significant pricing and underwriting actions in response to rising cyber claims in recent years, including tightened contract language, which should help mitigate underwriting losses in the current uncertain environment, Fitch Ratings says...
by AIP Online Bureau | Mar 2, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Technology
One reason for that could be a loophole in cybersecurity insurance policies. Experts and industry-watchers say the more sophisticated digital extortion gangs tend to focus on insured organisations because the victims already have a policy to make the payoff, making...
