Keel offers up to $152.2m of capacity per risk and provides instant quotes that are fully sanctioned screened – an area of increasing importance in the growing regulatory environment affecting marine war risks.

Summit secures additional $2.4 bln for COVID shots for poor countries

Jun 3, 2021

The funds will allow COVAX to secure 1.8 billion fully subsidised doses for delivery to lower-income countries in 2021 and early 2022, enough to protect 30% of adults in those nations, GAVI said in a statement.

“We have taken a big step towards ‘one world protected’,” said Jose Manuel Barroso, GAVI chairman. The fresh funds brought total COVAX financing to $9.6 billion, he added.

Burnt-out container ship sinks in sea; Sri Lankan Navy bracing for possible oil spill

Jun 3, 2021

The resultant environment and marine ecological pollution is regarded as the worst the island had seen. The ship’s cargo, comprising chemicals and nitric acid, were termed hazardous to the marine ecology.

At least 8 containers had fallen in the sea when it was anchored and went up in flames some 9 nautical miles off the Colombo port.

Ransomware & aggregation issues in US call for new approaches to US Cyber Risk : AM BEST

Jun 3, 2021

The loss ratio for cyber insurance rose dramatically in 2020, to 67.8%, from 44.8% in 2019. However, the increase was not limited to just a few insurers—the loss ratio rose for 15 of the 20 largest cyber insurers.

“The rate increases for cyber insurance outpaced that of the broader property/casualty industry, but the increase in cyber losses outstripped the rate hikes, which suggests more trouble for 2021 as ransom demands continue to grow,” said Sridhar Manyem, director, industry research and analytics.

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