War underwriters have raised the premiums they charge to US, British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …
Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance brokers in their renewal reports. “Some reinsurers adopted a tougher stance ahead of the January 2024 …
Ukraine is working “intensively” with partners to restore air travel suspended for nearly two years, with the main focus on Boryspil International Airport outside the capital Kyiv, a presidential official said on Thursday. Ukraine’s airspace was abruptly closed by Russia’s …
Ukraine is discussing military risk insurance for air transportation with insurance broker Marsh and consulting firm Oliver Wyman, Ukraine’s National Security and Defense Council said on Friday. Air traffic over Ukraine has been suspended since Russia’s full-scale invasion in February …
While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further upward pressure on retentions and prices, according to reinsurance brokers in comments about the …
Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential conflict hot spots. Political violence cover, which businesses can take out to …
A merchant ship transporting grains was lightly damaged off the coast of Ukraine and was likely to have been hit by a floating sea mine, according to maritime specialists and a Ukrainian government source. This is the latest incident affecting …
Marsh, a business of Marsh McLennan, headquartered in New York, N.Y., named Janice Kowell marine, cargo and logistics practice leader, U.S. and Canada. Kowell will remain based in Portland, Ore. Kowell succeeds Michael Pellegrini, who has been named regional head …
Some insurers are excluding Israel, Lebanon and other Middle Eastern countries from their event cancellation policies after the Israel-Hamas war resulted in some activities being pulled. European Aquatics last week called off the continental water polo championships, which was scheduled …
This edition of International People Moves details appointments at Marsh and Markel. A summary of these new hires follows here. Marsh Promotes Donnelly to Global Head of Placement Insurance broker Marsh announced the appointment of John Donnelly as global head …
