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 Insurer

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 Insurer Insured

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 Insurer Insured 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 Insurer Insured

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

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 Insurer Insured

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

Norway acts on fake marine insurance operation

Insurance Marine News

MARCH 30, 2025

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Marine

Marine 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 Insurer Insured

BP Marsh sells stake in Lilley Plummer Risks

Insurance Marine News

OCTOBER 30, 2024

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Risk

Risk Marine Insurer Insured

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

Marine war market fears claim over detained $130m dredger

Insurance Marine News

SEPTEMBER 19, 2024

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Marine

Marine Claim Insurer Insured

Risk of collision with offshore installations from attendant vessels

Insurance Marine News

MARCH 11, 2025

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Risk

Risk Marine Insurer Insured

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

Insurance Marine News

NOVEMBER 3, 2024

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Marine

Marine Insurer Insured Insurance

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

Insurance Marine News

FEBRUARY 23, 2025

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Marine

Marine Insurer Insured Insurance

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 Insurer Insured

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

Insurance Marine News

JANUARY 28, 2025

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Risk

Risk Marine Insurer Insured

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

Humm leaves AEGIS to launch marine cell with United Risk: report

Insurance Marine News

APRIL 15, 2025

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Marine

Marine Risk 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 Insurer Insured

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 Injury

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 …

Insurer

Insurer Insured Insurance Protection

South Africa passes marine pollution law

Insurance Marine News

FEBRUARY 10, 2025

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Marine

Marine Insurer Insured Insurance

‘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 Insurer Insured

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

US levies risk upsetting global shipping, says COSCO

Insurance Marine News

APRIL 23, 2025

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Risk

Risk Marine 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

What is a Managing General Agent (MGA) in Insurance?

Distinguished

APRIL 9, 2025

A Managing General Agent (MGA) is a specialized type of insurance intermediary that has underwriting authority granted by an insurer. Unlike agents or brokers, MGAs can bind coverage, price policies, and handle claims they essentially act as an extension of an insurer. How do MGAs Differ From Insurance Brokers?

Agents

Agents Broker-Agent Broker Underwriter

Red Sea risks rise after US attacks Houthi bases

Insurance Marine News

MARCH 17, 2025

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Risk

Risk Marine Insurer Insured

India expands Russian insurers’ pool

Insurance Marine News

JANUARY 23, 2025

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Insurer

Insurer Insured Insurance Marine

Ambrey launches specialist marine MGA Ambrey Global Specialty

Insurance Marine News

MARCH 25, 2025

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Marine

Marine Insurer Insured Insurance

BIMCO adopts reviews of war risk clauses

Insurance Marine News

APRIL 10, 2025

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Risk

Risk Marine Insurer Insured

Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

Distinguished

MARCH 20, 2025

From devastating floods to slip-and-fall lawsuits, insuring apartment buildings is no simple task. And with rising property values, more frequent catastrophic weather events, and emerging risks like habitability claims, its never been more critical to help your clients navigate their insurance options.

Building

Building Protection Damage Liability

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

Insurance Marine News

DECEMBER 18, 2024

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Insurer

Insurer Insured Insurance Marine

Marine round-up : 9th April 2025

Insurance Marine News

APRIL 8, 2025

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Marine

Marine Insurer Insured Insurance

Risk of collision with offshore installations from attendant vessels

Insurance Marine News

APRIL 8, 2025

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Risk

Risk Marine Insurer Insured

Markel to acquire MECO Group, specialist marine MGA

Insurance Marine News

APRIL 16, 2025

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Marine

Marine Insurer Insured Insurance

New capacity brings pricing pressure in cargo insurance, says Gallagher

Insurance Marine News

NOVEMBER 7, 2024

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Insurer

Insurer Insured Insurance Marine

Sweden Seizes Ship Suspected of Sabotage in Baltic Sea

Insurance Journal

JANUARY 27, 2025

Sweden detained a vessel suspected of damaging a subsea data cable connecting it with Latvia, the third such incident in the Baltic Sea in the past three months. The Security Service said it’s conducting a preliminary investigation into the crime …

Crime

Crime Damage Protection Liability Insurance

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.

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’

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

Rising climate risks and the evolving role of marine insurance

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

Norway acts on fake marine insurance operation

Gard adds new risks to product offering in Japan

BP Marsh sells stake in Lilley Plummer Risks

Crafting Compelling Content for Insurance Agency Websites

Marine war market fears claim over detained $130m dredger

Risk of collision with offshore installations from attendant vessels

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

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

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

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

A Comprehensive Guide to Understanding Commercial Property Insurance

Humm leaves AEGIS to launch marine cell with United Risk: report

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

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

US levies risk upsetting global shipping, says COSCO

Insuring Collectibles in New York

What is a Managing General Agent (MGA) in Insurance?

Red Sea risks rise after US attacks Houthi bases

India expands Russian insurers’ pool

Ambrey launches specialist marine MGA Ambrey Global Specialty

BIMCO adopts reviews of war risk clauses

Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

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

Marine round-up : 9th April 2025

Risk of collision with offshore installations from attendant vessels

Markel to acquire MECO Group, specialist marine MGA

New capacity brings pricing pressure in cargo insurance, says Gallagher

Sweden Seizes Ship Suspected of Sabotage in Baltic Sea

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