Marine
Marsh McLennan launches new facility offering insurance for Black Sea grain shipments
’The launch of this insurance facility will especially benefit the developing nations that buy much of Ukraine’s grain,’ says chief executive
High Five: Catch up on the biggest stories this week
Insurance Times rounds up the biggest stories of this week
New marine insurance solution for Ukrainian grain corridor announced
’We look forward to helping Ukraine resume the vital international shipping of its grain,’ says head of direct marine
Briefing: Can insurers put Ukrainian Black Sea exports back on track?
Many underwriters said they were likely to wait and see how the initial transits fared before committing to action
Marine insurers told they cannot leave clients all at sea with increased net zero ambitions
While the ongoing conflict in Ukraine loomed large, the challenges of climate change and technology were prominent pieces of the IUMI’s agenda
Marsh ‘exploring options’ after cover for Ukrainian shipments suspended
The cover was suspended following the expiration of the Black Sea Grain Initiative
Vessel Protect to better broker offering with new maritime and security risk hire
Chief executive says the firm has ‘huge ambitions to keep on increasing our value proposition to brokers’
RSA Insurance expanding marine offering with superyacht practice
Director says move represents ‘good opportunity’
Pen Underwriting makes splash into specialist marine sector with acquisition
The new buy adds £90m of gross written premium to Pen, says statement
New marine casualty claims guidelines launched
New guidelines ‘will result in clearer lines of communication and will assist in the efficient management of claims’, says JMCC chair
Marine insurance sector’s role in Ukrainian grain shipments has ‘saved lives’
Vital shipments of grain to support the global food market have been backed by the insurance sector, but a treaty is now under threat
AR deal sees broker moor to marine sector
The ‘expertise’ of the new AR will expand the broker’s capabilities in the sector
Briefing: Marine insurers hope Ukraine war anniversary will not leave them in sea of claims
With vessels still stranded in Ukrainian ports, there is a very real risk of marine hull claims following the conflict’s one year anniversary this month
Reinsurers’ retreat leaves marine underwriters to sail alone in a sea of rising risks
Marine insurance trade association confirms the sector ‘has much work ahead’ if it wants to keep pace with ongoing challenges
Aston Lark expands marine business with purchase of N&G book
The purchase will also see marine underwriter Mike Jeffrey move across to Aston Lark
Economic challenges temper marine underwriters’ performance – IUMI
Secretary general reveals that marine ‘underwriters are navigating some highly complex issues’, despite ‘another positive year’ overall for marine insurers in 2021
Marine market will see ‘more restrictive capital’ and ‘narrower policies’ in 2023 – Concirrus
The impact of the war in Ukraine is likely to continue to affect marine lines next year, says chief executive
Inflation driving marine insurance exposure concerns – Allianz
Marine insureds may need to adjust their policy limits to stave off the risk of underinsurance, says global head of marine risk consulting
Lloyd’s of London’s reserving for Ukraine crisis is a 'sensible reserve position’
Lloyd’s had arrived at its reserving figure for Ukraine-related claims via a ’probability weighted exposure reserving method’, says chief financial officer
Briefing: Russia-Ukraine conflict takes toll on insurers’ half-year results
Insurers are preparing for further losses as Russia continues to hold on to leased planes
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