Insured, Marine and Risk - Insurance Industry Brief

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 Marine 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

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 Insured Insurer

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 Insured Insurer Insurance

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 Insured 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

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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

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 Insured Insurer

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 …

Insured

Insured Insurer Insurance Risk

BP Marsh sells stake in Lilley Plummer Risks

Insurance Marine News

OCTOBER 30, 2024

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Risk

Risk Marine Insured Insurer

Marine war market fears claim over detained $130m dredger

Insurance Marine News

SEPTEMBER 19, 2024

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Marine

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

Insurance Marine News

NOVEMBER 3, 2024

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Marine

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

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

Trending Sources

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

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

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

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

Rising climate risks and the evolving role of marine insurance

The Secretive World of Russian Oil Tanker Insurance Revealed

BP Marsh sells stake in Lilley Plummer Risks

Marine war market fears claim over detained $130m dredger

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

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

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

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

IMO’s Dominguez warns on rising risks from unregulated tanker fleet

Russian shadow fleet vessels passing through Baltic to be checked for insurance

DUAL partners with Quotech for marine underwriting technology

New capacity brings pricing pressure in cargo insurance, says Gallagher

State-based armed conflict seen as the top immediate risk for 2025, says WEF

Aon launches €110m Ukraine war risk facility

Marine round-up : 19th December 2024

West P&I to acquire 100% of Nordic Marine Insurance

Hyundai deploys technology to fight fire risk from lithium batteries

New US sanctions cast a wide net

Finnish Court upholds detention of Eagle S

Israeli airstrike on Yemen port damages vessels

Chinese ship dragged anchor for 100 miles, cutting two cables, says WSJ

More than 6% of international trade vessels now in shadow fleet, says Kpler

Singapore and other ports start screenings for mpox

Azerbaijan-managed vessel en route to China via Northern Sea Route: report

Spain stops US vessel from docking because of suspected Israeli military connection

Panama has major throughput ambitions

Unprecedented railway strike in Canada begins

Harbourmaster submits recommendations following ferry’s hard grounding

Britannia goes for 7.5% rate increase

Glen Sannox makes maiden passenger-carrying trip

Turkish pro-Palestinian protestors occupy the Kathrin

American Club renewal: overall target of 7% increase

Indian High Court orders sale of seized vessel: report

Egypt reveals $6bn revenue hit from Houthi attacks in Red Sea

Panama Canal numbers beat budget

Question on an ISR extension of coverage

Swedish Club renewal: further details

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