by AIP Online Bureau | Jun 14, 2024 | International News, Non-Life, Policy, Reinsurance, Risk Management
Sanctions against Ingosstrakh are notable because it is major provider of coverage for the commercial fleet moving Russian oil, largely displacing insurers based in the UK and Europe. The company didn’t immediately respond to a request for a comment on how the...
by AIP Online Bureau | Jun 10, 2024 | Eco/Invest/Demography, International News, Non-Life, Policy, Risk Management
Russia has shipped about 3.4 million barrels a day of crude so far this year, valued at about $37 billion at the point of export, and working around western sanctions has been part of that The first Russian oil tanker attempting to deliver crude while under US...
by AIP Online Bureau | May 30, 2024 | International News, Regulation, Reinsurance, Risk Management
The G-7 price cap on Russian crude oil and petroleum products bans western shipowners, insurers and intermediaries from providing vessels and services for cargoes priced above the thresholds. The restrictions prompted a pivot away from western insurance and a need for...
by AIP Online Bureau | May 14, 2024 | Eco/Invest/Demography, International News, Non-Life, Policy, Regulation
Major insurers and ship engine makers have already withdrawn cover for Russia’s tanker fleet, which Moscow is relying on to maintain the country’s oil trade after Washington and its allies including the European Union imposed a raft of sanctions for its invasion of...
by AIP Online Bureau | Apr 25, 2024 | Breaking News!, Eco/Invest/Demography, Indian News, Non-Life, Reinsurance
Russian companies Sogaz Insurance, Alfastrakhovanie, and VSK Insurance, have joined Ingosstrakh as insurers approved by India for providing marine insurance cover, an order posted on Indian shipping regulator’s website showed “With the backing of the...
