Ship owners covered by Japan P&I club must alert the maritime insurer in advance of any plans to transport Iranian oil and petrochemicals that could fall foul of Western sanctions, the insurer said. The United States and European Union have …
Banks are set to lose almost three-quarters of the value of their Greek government bonds under a deal agreed early on Tuesday, slightly more than they had planned, people familiar with the matter said. Investors had previously expected to suffer …
State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to complete, would – if adopted …
Lloyd’s announced that it has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s said it has been approved as a “Secure-3 reinsurer, meaning its collateral requirements will be reduced from 100 percent …
London-based Aon, the risk management business of Aon Corp. in the UK, announced that it has “demonstrated its commitment to reducing its green house gas (GHG) emissions by become the first company in the insurance industry in the world to …
