Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said. The Black Sea is crucial for the …
Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for liquefied natural gas (LNG) vessels, industry sources said on Friday. Japan’s …
Japan, the world’s top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships traveling in Russian waters from Jan. 1. …
As we reach the end of another eventful year, Insurance Journal takes a look back at some of the top International stories, which were, of course, dominated by the Russia-Ukraine war. Three of the top 10 articles in 2022 covered …
A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a further sign of the industry’s growing concerns about losses stemming from the conflict. At least 12 of the 13 organizations …
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 …
Russian airlines have held exploratory talks with at least one major Western leasing firm about using state funds to buy some of the more than 400 aircraft stranded in Russia after its invasion of Ukraine, according to documents and sources. …
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 …
