Insurance, Marine and Risk - Insurance Industry Brief

People Moves: HDI Global Promotes Schulte as Global Head of Marine; Amwins Global Risks Hires Ewing to Lead Transactional Risk Practice

Insurance Journal

DECEMBER 12, 2024

This edition of International People Moves details appointments at HDI Global and Amwins Global Risks. HDI Global Promotes Schulte as Global Head of Marine HDI Global has promoted Dr. Carsten Schulte as … A summary of these new hires follows here.

Risk

Risk Marine

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Insurance Journal

SEPTEMBER 17, 2024

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

Risk

Risk Claim Insurer Insured

Clear Group Acquires Lilley Plummer Risks, Entering Wholesale Lloyd’s Broker Space

Insurance Journal

OCTOBER 29, 2024

Clear Group, the UK independent insurance broker that is owned by Private Equity at Goldman Sachs Alternatives, has entered the wholesale Lloyd’s broker space with the acquisition of Lilley Plummer Risks Ltd., a London-based marine and property specialist. Financial details …

Broker

Broker Risk Insurance Broker Marine

Denmark Plans $1 Billion War Insurance for Merchant Shipping

Insurance Journal

MAY 2, 2025

Denmark plans to set aside almost $1 billion to insure its merchant fleet in the event of a war or major crisis. The government proposed the new legislation as a “timely precaution,” according to a statement on Thursday. The funding …

Insurer

Insurer Insured Insurance Risk

Swiss Re Among Firms in $3 Billion Credit-Risk Deal for International Finance Corp.

Insurance Journal

DECEMBER 18, 2024

Swiss Re AG, Tokio Marine Holdings Inc., and AXA SA are among providers of $3 billion in credit-risk insurance for the private-sector arm of the World Bank Group, as it seeks to expand its lending in … AXIS Capital Holdings Ltd.

Risk

Risk Marine Insurance Insurer

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

Insurance Journal

JANUARY 6, 2025

Inside faceless office buildings scattered around London, a niche corner of the insurance market is keeping hundreds of billions of dollars in commodity trade moving through some of the world’s most dangerous waters. As conflicts rage in the Middle East …

Risk

Risk Building Insurer Insured

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Insurance Journal

JANUARY 24, 2025

January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic fragmentation.” ” Geoeconomics refers to the intersection of geopolitical forces and economic policies.

Insurer

Insurer Insured Insurance Policy

Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Insurance Journal

JULY 23, 2024

Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian …

Risk

Risk Insurance Insurer Insured

Stricken Oil Tankers Show Risks of Russia’s Aging ‘Shadow Fleet’

Insurance Journal

DECEMBER 16, 2024

Russian authorities sought to limit the damage on Monday from oil spilled into the Kerch Strait by two aging tankers that were damaged during a heavy weekend storm, highlighting the environmental and insurance risks of Russia’s “shadow fleet.” ” One crew …

Risk

Risk Damage Insurance Insurer

Mastering Inland Marine Insurance: A Broker’s Guide

Distinguished

MAY 6, 2025

Without inland marine coverage, these businesses would face significant financial losses that standard property insurance doesnt cover. Despite its name, inland marine insurance has nothing to do with boats. What is Inland Marine Insurance? Who Needs Inland Marine Insurance?

Inland Marine Insurance

Inland Marine Insurance Inland Marine Marine Insurer

Rising climate risks and the evolving role of marine insurance

Splash: Finance and Insurance

DECEMBER 1, 2024

Robert Mackay from FDR Risk writes for Splash today. Extreme weather events triggered by climate change are becoming more frequent and severe, reshaping operational risk and creating unprecedented challenges for shipowners and operators.

Risk

Risk Marine Insurance Insurer

Aon and EBRD Launch €110M Facility to Provide Cover for War-Related Risks in Ukraine

Insurance Journal

DECEMBER 12, 2024

Insurance broker Aon and the European Bank for Reconstruction and Development (EBRD) have structured a 110 million (US$115.6 million) facility to provide reinsurance capacity for international reinsurers and Ukrainian insurance companies to cover war-related risks in Ukraine. Under the Ukraine …

Risk

Risk Insurance Broker Broker Insurance Companies

Dark Fleet Caper Exposes Growing Risks in Crowded Malacca Strait

Insurance Journal

JULY 22, 2024

A collision that set two vessels ablaze off Singapore has underlined the growing risks in the crowded Straits of Malacca, as the dark fleet expands and lackluster Chinese demand leaves dozens of the tankers idling. The Ceres I, a 23-year-old …

Risk

Risk Protection Liability Insurance Marine

How Much New Risk Can Insurance Customers and Insurers Take?

Majesco

FEBRUARY 13, 2025

Today’s insurance customer is under pressure and assault from every angle: Cyber criminals are using data breaches to access bank accounts and credit. Climate risk is growing, and a greater number of Cat events are threatening people and their property. Risk is growing, shifting, and becoming more complex.

Risk

Risk Insurer Insured Insurance

The Secretive World of Russian Oil Tanker Insurance Revealed

Insurance Journal

OCTOBER 22, 2024

One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill. The answer is that while some are still covered by the …

Insurer

Insurer Insured Insurance Risk

Smaller shipowners in danger: Geneva Dry risk workshop

Splash: Finance and Insurance

MAY 6, 2025

It was a standing room during a specialist workshop at the opening day of the second edition of Geneva Dry that saw panellists turn their attention to various aspects of risk management for dry bulk shipowners and operators.

Risk

Risk Marine Insurance Insurer

Crafting Compelling Content for Insurance Agency Websites

Neilson Marketing Services

JANUARY 30, 2025

The digital space is crowded, and insurance agencies are vying for attention in an industry where trust and expertise matter most. A well-crafted insurance agency website is an essential tool for building credibility, attracting potential clients, and converting leads. A one-size-fits-all approach to website content falls flat.

Insurance Agency

Insurance Agency Insurer Insured Insurance

Gard adds new risks to product offering in Japan

Insurance Marine News

JANUARY 23, 2025

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Risk

Risk Marine Insurance Insurer

Norway acts on fake marine insurance operation

Insurance Marine News

MARCH 30, 2025

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Marine

Marine Insurer Insured Insurance

BP Marsh sells stake in Lilley Plummer Risks

Insurance Marine News

OCTOBER 30, 2024

Join Us The post BP Marsh sells stake in Lilley Plummer Risks appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Risk

Risk Marine Insurance Insurer

Gallagher Bassett Buys London-Headquartered W K Webster & Co.

Insurance Journal

FEBRUARY 3, 2025

announced that its claims and risk management solutions subsidiary, Gallagher Bassett, has acquired W K Webster & Co Ltd. W K Webster specializes in marine and transit claims … Gallagher & Co. Terms of the transaction were not disclosed.

Claim

Claim Marine Risk Broker-Agent

Risk of collision with offshore installations from attendant vessels

Insurance Marine News

MARCH 11, 2025

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Risk

Risk Marine Insurance Insurer

Marine war market fears claim over detained $130m dredger

Insurance Marine News

SEPTEMBER 19, 2024

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Marine

Marine Claim Insurance Insurer

Chaucer to launch Asian marine offering on Lloyd’s Singapore platform

Insurance Marine News

NOVEMBER 3, 2024

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Marine

Marine Insurance Insurer Insured

NorthStandard says it “remains on course” after year of headwinds for marine insurers

Insurance Marine News

FEBRUARY 23, 2025

Join Us The post NorthStandard says it remains on course after year of headwinds for marine insurers appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Marine

Marine Insurance Insurer Insured

Scrap metal fires – is the IMSBC code adequately addressing the risks?

Insurance Marine News

JANUARY 28, 2025

Join Us The post Scrap metal fires is the IMSBC code adequately addressing the risks? appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Risk

Risk Marine Insurance Insurer

A Comprehensive Guide to Understanding Commercial Property Insurance

Protect Commercial Insurance

APRIL 11, 2025

Navigating the world of insurance can feel overwhelming, especially when it comes to understanding commercial property insurance. This friendly guide will walk you through the essentials of commercial property insurance, helping you protect your business premises and assets with confidence. What is Commercial Property Insurance?

Commercial Property

Commercial Property Property Insurance Commercial Insurer

Upstream energy softening exceeds expectations, follow competition intensifies, says broker WTW

Insurance Marine News

APRIL 22, 2025

Williss global head of natural resources, Rupert Mackenzie, warned that challenges to insurers profitability were increasing. Energy insurers were chasing market share. The post Upstream energy softening exceeds expectations, follow competition intensifies, says broker WTW appeared first on Insurance Marine News.

Broker

Broker Marine Insurance Insurer

War risk programme proposed by Danish government

Insurance Marine News

MAY 5, 2025

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Risk

Risk Marine Insurance Insurer

Port operations in Bandar Abbas still badly affected

Insurance Marine News

MAY 6, 2025

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Marine

Marine Insurance Insurer Insured

Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources

Insurance Journal

OCTOBER 10, 2024

A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said on Thursday. Russian ballistic …

Commercial

Commercial Broker Insurance Insurer

Insurance Considerations When Expanding Your Business to a New Location

Mark Jackson Insurance Agency

MARCH 19, 2025

Brick commercial office building by Binyamin Mellish Expanding your business to a new location is an exciting step toward growth, but it also introduces new risks. From property protection to liability coverage, ensuring your business insurance policies align with your expansion is critical. This coverage is required in most states.

Workers Compensation

Workers Compensation Liability Property Damage Inland Marine Insurance

Red Sea Insurance Nearly Doubles After Attacked Oil Tanker Appears to Be Leaking Oil

Insurance Journal

AUGUST 28, 2024

The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen’s Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for the trade route, industry sources said on Wednesday. Iran-aligned …

Insurance

Insurance Insurer Insured Protection

US levies risk upsetting global shipping, says COSCO

Insurance Marine News

APRIL 23, 2025

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Risk

Risk Marine Insurance Insurer

ONE factors global uncertainty into FY2025 forecast

Insurance Marine News

MAY 5, 2025

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Marine

Marine Insurance Insurer Insured

South Africa passes marine pollution law

Insurance Marine News

FEBRUARY 10, 2025

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Marine

Marine Insurance Insurer Insured

‘We have reached the end of the globalisation process’: IUMI president

Splash: Finance and Insurance

SEPTEMBER 16, 2024

Opening this week’s International Union of Marine Insurance (IUMI) annual conference in Berlin, president Frédéric Denèfle focused on how change was likely to impact on all lines of marine insurance business. War risks, sanctions and embargoes were increasing and this was …

Marine

Marine Risk Insurance Insurer

Russia’s Oil Tanker Firm Sovcomflot Says G-7 Sanctions Make Oil Trade Less Safe

Insurance Journal

SEPTEMBER 20, 2024

Russia’s state-run oil tanker company Sovcomflot PJSC said that western sanctions on ships moving the nation’s petroleum oil are only serving to heighten environmental risks by forcing some vessels out of mainstream trading. Since late last year, US, European Union …

Risk

Risk Protection Liability Insurance Marine

Venezuela loses 20% of oil exports after Chevron shipments are cancelled

Insurance Marine News

MAY 6, 2025

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Marine

Marine Insurance Insurer Insured

Insuring Collectibles in New York

Distinguished

FEBRUARY 10, 2025

As such, Collectibles insurance plays a pivotal role in safeguarding these valuable assets. It covers fine art, sports cards, handbags, and other collections, up to $125 million on a single risk as the primary or excess layer or on a quota-share basis.

Broker-Agent

Broker-Agent Insurer Insured Insurance

Cargo Theft Surges as Holiday Season Approaches, Verisk Says

Insurance Journal

DECEMBER 22, 2024

A CargoNet analysis of holiday-period theft data from the past five years shows a heightened risk during the Christmas and New Year periods. Be on the lookout for Grinch-like characters hanging out at transportation hubs over the holidays. The days …

Theft

Theft Risk Inland Marine Marine

Red Sea risks rise after US attacks Houthi bases

Insurance Marine News

MARCH 17, 2025

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Risk

Risk Marine Insurance Insurer

India expands Russian insurers’ pool

Insurance Marine News

JANUARY 23, 2025

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Insurer

Insurer Insured Insurance Marine

Markel Insurance separates Markel Specialty into US and Bermuda operations

Insurance Marine News

APRIL 23, 2025

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Insurer

Insurer Insured Insurance Marine

People Moves: HDI Global Promotes Schulte as Global Head of Marine; Amwins Global Risks Hires Ewing to Lead Transactional Risk Practice

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Trending Sources

Clear Group Acquires Lilley Plummer Risks, Entering Wholesale Lloyd’s Broker Space

Denmark Plans $1 Billion War Insurance for Merchant Shipping

Swiss Re Among Firms in $3 Billion Credit-Risk Deal for International Finance Corp.

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Stricken Oil Tankers Show Risks of Russia’s Aging ‘Shadow Fleet’

Mastering Inland Marine Insurance: A Broker’s Guide

Rising climate risks and the evolving role of marine insurance

Aon and EBRD Launch €110M Facility to Provide Cover for War-Related Risks in Ukraine

Dark Fleet Caper Exposes Growing Risks in Crowded Malacca Strait

How Much New Risk Can Insurance Customers and Insurers Take?

The Secretive World of Russian Oil Tanker Insurance Revealed

Smaller shipowners in danger: Geneva Dry risk workshop

Crafting Compelling Content for Insurance Agency Websites

Gard adds new risks to product offering in Japan

Norway acts on fake marine insurance operation

BP Marsh sells stake in Lilley Plummer Risks

Gallagher Bassett Buys London-Headquartered W K Webster & Co.

Risk of collision with offshore installations from attendant vessels

Marine war market fears claim over detained $130m dredger

Chaucer to launch Asian marine offering on Lloyd’s Singapore platform

NorthStandard says it “remains on course” after year of headwinds for marine insurers

Scrap metal fires – is the IMSBC code adequately addressing the risks?

A Comprehensive Guide to Understanding Commercial Property Insurance

Upstream energy softening exceeds expectations, follow competition intensifies, says broker WTW

War risk programme proposed by Danish government

Port operations in Bandar Abbas still badly affected

Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources

Insurance Considerations When Expanding Your Business to a New Location

Red Sea Insurance Nearly Doubles After Attacked Oil Tanker Appears to Be Leaking Oil

US levies risk upsetting global shipping, says COSCO

ONE factors global uncertainty into FY2025 forecast

South Africa passes marine pollution law

‘We have reached the end of the globalisation process’: IUMI president

Russia’s Oil Tanker Firm Sovcomflot Says G-7 Sanctions Make Oil Trade Less Safe

Venezuela loses 20% of oil exports after Chevron shipments are cancelled

Insuring Collectibles in New York

Cargo Theft Surges as Holiday Season Approaches, Verisk Says

Red Sea risks rise after US attacks Houthi bases

India expands Russian insurers’ pool

Markel Insurance separates Markel Specialty into US and Bermuda operations

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