by AIP Online Bureau | Oct 10, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
Insurance sources said on Thursday the war premiums had jumped around 30% this week to just over 1% of the value of the vessel from around 0.7% in early September, which would mean hundreds of thousands of dollars in extra costs A series of Russian missile strikes on...
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Major insurers and ship engine makers have already withdrawn cover for Russia’s tanker fleet, which Moscow is relying on to maintain the country’s oil trade after Washington and its allies including the European Union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 | Feb 2, 2024 | Eco/Invest/Demography, Indian News, Non-Life, Risk Management
On being asked about how the Indian Coast Guard (ICG) is keeping the Exclusive Economic Zone safe amid increased drone and piracy attacks the ICG Director General said that the ICG ships are there practically every 100 to 150 miles away from each other so the response...
by AIP Online Bureau | Jan 16, 2024 | Eco/Invest/Demography, International News, Non-Life, Risk Management
Insurance industry sources said that war risk premiums had risen to around 1% of the value of a ship, from around 0.7% last week with various discounts applied by underwriters. They added that rates were expected to move higher War risk insurance premiums for...
by AIP Online Bureau | Dec 1, 2023 | Eco/Invest/Demography, International News
An attempted hijacking of a commercial vessel in the Gulf of Aden on Sunday appears to have been carried out by armed Somali pirates and not Yemeni Houthis, despite the firing of missiles from Houthi-controlled territory in Yemen afterwards Commercial ships face...
