Specialty
Risks reshaping P&I insurance on the road to 2027
There are six main risks currently impacting decision-making in the protection & indemnity sector
Reinsurers impose second round of war risk cancellations on P&I clubs
Marine mutuals set to put buybacks in place by Sunday
Significant test following the Insurance Act 2015 goes insurers’ way
Decision is one of the most significant recent judgments concerning the duty of fair presentation since the Insurance Act 2015 came into law
War risk is not for the faint-hearted
Simon Lockwood, the head of shipowners at Willis Marine GB, describes the warning signs of inexperience among war insurers
Chronic climate risks threaten data centre surge
Data centre stakeholders can better manage longer-term climate risks, such as heat and drought, that may increase cooling costs, squeeze margins and threaten insurability
Amwins expands nat cat facility to $50m per placement
Expanded facility will provide cover for earthquake, flood, wildfire, windstorm and other natural catastrophe risks worldwide
MNK International launches energy division
New division will target emerging and specialist markets across Africa, the Middle East, Europe, Asia and the Americas
McGill launches South African renewables product
Specialty intermediary partners with South African broker GIB on suite of coverage for developers, lenders and owners involved in South Africa’s energy transition
Aviation insurance claims costs continue to rise
Cost of major repairs jumps nearly 11% year-on-year amid labour shortages and increased cost of parts and materials, McLarens Aviation data shows
Retro markets ‘push back’ on aviation rate pressure
Aviation retrocession markets are becoming cautions of rising losses amid a ‘changing view of risk’, Gallagher Re reports
Systemic risk of growing concern for aviation underwriters
Underwriters are becoming more concerned about the systemic impact of risks originating from outside the aviation sector, IUAI research finds
Understanding aviation risk in Brazil’s agricultural sector
The seasonal concentration of losses, the variability of pilot quality, the constraints of the local repair environment and the expected emergence of autonomous platforms present challenges for the insurance market
Westfield reports 25% premium growth in H1
President Jack Kuhn cites ‘broad diversified portfolio’ and careful underwriting
Risks reshaping P&I insurance on the road to 2027
There are six main risks currently impacting decision-making in the protection & indemnity sector
MS Amlin profits rise 52% despite Iran war losses
Lloyd’s carrier books netprofit of £61m for the three months to the end of June
Reinsurers impose second round of war risk cancellations on P&I clubs
Marine mutuals set to put buybacks in place by Sunday
VLCC marine insurance costs highest since 2024
Middle East Gulf conflict most likely explanation for pricing increases
The political violence market must respond to growing grey zone threat
Political violence risk can no longer be assessed only through the lens of war or terrorism — it must also account for disruption that sits below the threshold of open conflict
Political risk ‘no longer confined to traditional hotspots’
Insurers and their clients will need to treat political risk as a permanent feature of the operating environment, warns WTW’s Sam Wilkin
Middle East conflict could become costliest PV loss on record
Insured political violence and terror losses arising from the conflict could reach $3bn, Howden Re estimates
Increasing unrest creates PV&T opportunity in Asia
Coverage exclusions and demand for higher limits are creating opportunities for the international specialty carriers, Markel’s Henry Ang says
Markel appoints Ang head of terrorism in Singapore
Ang will be responsible for developing Markel’s political violence and terrorism portfolio in the Asia-Pacific region
Middle East conflict could become costliest PV loss on record
Insured political violence and terror losses arising from the conflict could reach $3bn, Howden Re estimates
War overtakes civil unrest as biggest political violence threat
Political violence and terrorism claims arising from Iran conflict could be higher than from the war in Ukraine, Allianz warns
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