Regulator’s review finds some good practices along with numerous areas for improvement
War risk cover for vessels trading with Ukraine since the Russian invasion in February 2022 have been volatile, with additional premiums thought to have touched an unprecedented 10% or more of hull value
Broker partners with Lloyd’s and the Ukrainian government to provide up to $50m in hull and separate P&I war risk cover
The Russian invasion of Ukraine and the Hamas attack on Israel underline the crucial contribution insurance makes to allowing seaborne trade to continue when conflicts are in full flow
Calls to Israel attract additional premiums in the order of 0.25%-0.5% of hull value, market sources report
Head of Lockton Re’s marine and energy division, Martin Stephenson, gives his assessment of the impact of Russia-Ukraine-Belarus exclusions
Underwriters shrug off hundreds of millions of dollars of total loss payouts and the collapse of Black Sea grain corridor
Investment in Ukraine’s recovery can start before conflict with Russia ends
Vessel tracking will let underwriters monitor exposure despite Russian threat to treat merchant shipping as military targets
International Union of Marine Insurance says ‘grey areas’ surround Ukraine government’s proposal to reinsure marine risk
Details of scheme that would see Ukrainian government take first layer of risk expected shortly
A new Ukrainian state-backed scheme to provide war risk cover in conjunction with international insurers will essentially be a public-private partnership sharing the risk, according to Marsh, which is advising Kyiv on the details of the new deal expected to emerge in the next month
All set! This article has been sent to email@example.com.
All fields are required. For multiple recipients, separate email addresses with a semicolon.
Please Note: Only individuals with an active subscription will be able to access the full article. All other readers will be directed to the abstract and would need to subscribe.