The ship’s owner, Japanese firm Shoei Kisen KK, and its insurers could face claims from the SCA for loss of revenue and from other ships whose passage has been disrupted, insurers and brokers said.
Container ships of this size are likely insured for hull and machinery damage of $100-140 million, insurance sources say. The ship was insured in the Japanese market, two of the sources said.

EU must clarify relationship between cyber security rules to give insurers legal certainty across Europe

Mar 25, 2021

Beyond their own cyber security, insurers, as providers of cyber insurance products, have a key role to play in increasing the cyber resilience of the EU.

AXA XL names Jennifer Schipf as global chief underwriting officer, Fine Art & Specie

Mar 25, 2021

In this new global role, she will be leading the company’s regional FAS teams to further strengthen underwriting capabilities across established and emerging markets.

Climate change set to drive more deadly heat in South Asia

Mar 25, 2021

If warming hits 2C, the number of South Asians exposed to unsafe temperatures could rise two-fold, and nearly three times as many people could face lethal heat, the study said. In a region home to a quarter of the world’s population that could have a big impact on the ability of workers to produce crops in breadbasket regions such as West Bengal and Uttar Pradesh in India and Punjab and Sindh in Pakistan, study authors said.

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