Ukraine War
As events in Ukraine unfold at a rapid pace and sanctions on Russia start to bite, Insurance Day offers the best insight, analysis and commentary on how the crisis is impacting insurance markets
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Third Delta Tankers vessel attacked in Red Sea this month test for green dot-only publish no Notification?
Delta Tankers-owned Delta Blue and Delta Atlantica were both attacked in the Red Sea by small craft as well as projectiles in August
Commons committee will probe Russia insurance sanctions enforcement
Lloyd’s and company market bodies to provide information to committee as chair vows to ‘deal a fatal blow to Kremlin’s war chest’
Marsh expands Ukraine war risk facility
Ascot-led facility can now provide reduced war risk insurance to all non-military shipping to and from Ukraine ports
Marine insurers face extra due diligence in Russia oil price cap crackdown
From February 20 pre-voyage attestations required for all tankers calling at Russia, affecting about 41% of tankers covered by Western insurers, a proxy for price cap compliance, based on January callings
LMA updates Russian oil price cap clauses
The revised clauses take into account new measures being brought in to prevent the circumvention of the price cap
London D&O market seeing ‘signs of stabilisation’
High chance market will remain soft in 2024, brokers and underwriters canvassed by Insurance Day say, but indications that rate decreases slowing
Disputes over planes trapped in Russia to weigh on insurers in 2024
With several legal trials starting this year, it could take years before some of these issues are resolved, broker Gallagher warns
Shipping can adapt to anything as long as trade remains global
Global maritime trade is down in 2023, but it has proven remarkably resilient to successive shocks to the system. A proliferation of protectionist obstacles to international trade and investment, however, could prove to be a much bigger barrier — even for shipping’s endless adaptability
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