by AIP Online Bureau | Mar 3, 2026 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance
Vessels of the Shipping Corporation of India (SCI) are also involved in the movement of crude oil and LNG, especially through areas around the Red Sea, and would have to pay an additional premium for war cover to ensure risk cover. In aviation, hull war risk (HWR)...
by AIP Online Bureau | Mar 3, 2026 | Workplace/Employee Benefits
The Directorate General of Shipping is closely monitoring the evolving maritime security situation in the Persian Gulf, Strait of Hormuz, Gulf of Oman and adjoining sea areas in light of recent regional and geopolitical developments, where reported threats have...
by AIP Online Bureau | Mar 3, 2026 | Eco/Invest/Demography, International News, Non-Life, Policy, Reinsurance
“The strait (of Hormuz) is closed. If anyone tries to pass, the heroes of the Revolutionary Guards and the regular navy will set those ships ablaze,” Ebrahim Jabari, a senior adviser to the Guards commander-in-chief, said in remarks carried by state...
by AIP Online Bureau | Mar 3, 2026 | Indian News, Non-Life, Regulation
This is the first deal by any foreign insurer to have a 100 per cent venture in India after the new act,The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025,was enacted by the Indian parliament in December, 2025, allowing 100 per cent foreign direct...
by AIP Online Bureau | Mar 2, 2026 | Indian News, Non-Life, Reinsurance
The Centre reiterated its readiness to facilitate trade operations, including procedural flexibility in export-related authorisations in cases of genuine disruption; coordination with Customs authorities to ensure smooth clearance; engagement with financial and...
by AIP Online Bureau | Mar 2, 2026 | International News, Non-Life, Reinsurance, Technology
“Together with Beazley, we will create the world’s leading Specialty underwriter, with around $15 billion of pro forma gross written premiums, exceptional underwriting expertise and data capabilities, and leading access to global distribution,” said...
by AIP Online Bureau | Mar 2, 2026 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
More than half of the world’s largest maritime insurance clubs have also now scrapped war-risk insurance for vessels entering the Gulf Dozens of laden oil tankers are hunkering down inside the Persian Gulf after attacks near the Strait of Hormuz have all but closed...
by AIP Online Bureau | Mar 2, 2026 | Eco/Invest/Demography, Intermediaries, International News, Non-Life, Reinsurance, Risk Management
Additional premiums for vessels transiting high-risk waters are rising sharply and may continue to fluctuate in the short term.Cargo war risk remains available; however, rates are increasing and quotations are being reviewed on a voyage-by-voyage basis, particularly...
by AIP Online Bureau | Mar 1, 2026 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Reinsurance
“The disruption in the Strait of Hormuz threatens a major share of India’s crude oil and LNG imports, raising freight costs, insurance premiums, and fuel prices, while a surge in global oil prices could widen the current account deficit and fuel...
by AIP Online Bureau | Mar 1, 2026 | Workplace/Employee Benefits
Risks to commercial shipping have surged in the past 24 hours, with more than 200 vessels including oil and liquefied gas tankers dropping anchor around the Strait of Hormuz and surrounding waters, shipping data showed on Sunday. Mariners should expect increased naval...
