Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance …
Japan’s buyers of Russian liquefied natural gas are assessing how imminent changes to shipping insurance — triggered by the ongoing war in Ukraine — will affect supplies from the key Sakhalin-2 project in Russia’s Far East. Three Japanese insurance companies …
The Japanese government has asked insurers to take on additional risks to continue providing marine war insurance for liquefied natural gas (LNG) shippers in Russian waters, a senior official at the industry ministry said. The Financial Services Agency and Agency …
A cargo insurance facility providing cover for shipments via Ukraine’s grain export corridor will continue next year with no rate increases, an underwriter with Lloyd’s of London insurer Ascot said on Thursday. Twenty-one insurers are part of the facility, which …
Insurers may refuse to cover planes flying to Ukraine or ships sailing through the Black Sea as reinsurers – who insure the insurers – propose excluding the region from policies from next month, four industry sources said. Reinsurers typically renew …
Some of the biggest names in ship reinsurance are days away from ceasing to cover key war-related risks for vessels going to Russia and Ukraine, a potential source of alarm for shipping firms moving everything from oil to grains. Hannover …
Norway will beef up security around the digital infrastructure that is essential for the Nordic country’s oil and gas production, following the recent sabotage on the Nord Stream pipelines. Norway will spend an additional 43 million kroner ($4.3 million) to …
Lloyd’s of London insurer Ascot is once again quoting on its cargo insurance facility for the Black Sea grain corridor, the facility’s lead underwriter said on Wednesday after Russia announced it would resume its participation in the accord. “In response …
Russia said on Wednesday it would resume its participation in a deal freeing up grain exports from war-torn Ukraine, reversing a move that world leaders had said threatened to exacerbate global hunger. Moscow announced the sudden reversal after Turkey and …
Insurers are no longer offering new cargo insurance cover for shipments out of Ukraine through a U.N.-backed safe corridor after Russia suspended its participation, industry sources said on Tuesday. An export deal, agreed by Russia and Ukraine and brokered by …
