Sanctions against Russia in response to its invasion of Ukraine are “manageable” for Britain’s insurers and wider financial sector, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain is banning Russian companies from the multi-billion-dollar aviation and space …
London’s marine insurance market has widened the area of waters around the Black Sea and Sea of Azov that it deems high risk as Russia’s invasion of Ukraine intensifies and perils to merchant shipping grow. The insurance industry’s Joint War …
Britain unveiled new aviation sanctions on Wednesday which give the power to detain any Russian aircraft and banning exports of aviation or space-related goods to Russia, saying it had already impounded one plane. The measures to strengthen action against Russian …
Bangladeshi seafarer Asiful Islam recalls the moment when a missile struck his cargo ship last week off the Ukrainian port of Olvia, killing his crew mate. “I was just 15 feet away when it hit our ship. Our third engineer, …
At least three tankers controlled by Russian maritime powerhouse Sovcomflot that have been unable to deliver their cargoes due to Western sanctions have re-routed to the Bahamas, vessel tracking data showed on Monday. Russian state-owned Sovcomflot was blacklisted by the …
Russia’s size and close integration into the global aviation industry since the end of the Cold War means sanctions related to its invasion of Ukraine are having outsized consequences relative to earlier freezes on Iran and North Korea. Manufacturers, lessors, …
Cyber risk and analytics firm CyberCube said it has seen cyber attacks on Ukrainian government services, infrastructure, and other industries and it urges the insurance industry to reevaluate exposures. Russia’s invasion of Ukraine “will undoubtedly push the boundaries of acceptable …
The Russian invasion of Ukraine has increased the risk of cyberattacks and potential claim costs for property/casualty (P/C) insurers globally that offer cyber coverage, the majority of which is underwritten in North America. Such attacks may also further test the …
China has told top state insurers to perform urgent checks on their exposure to Russia and Ukraine, as concerns swirl about the damage to the two economies amid intense fighting, according to two sources and documents seen by Reuters. The …
Russia’s global financial isolation intensified on Friday as the London Stock Exchange (LSE) suspended trading in its last Russian securities and some insurers withdrew cover from exporters over Moscow’s invasion of Ukraine. Banks, investors and insurers have in recent days …
