Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington’s sanctions, according to officials involved in the initiative. International oil and shipping …
The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Insurers forecast income could dive by 20 …
Oil companies looking to steal a jump on rivals in the race to benefit from Iran’s emergence from Western sanctions risk having tankers left in limbo by international insurers’ continued reluctance to provide cover. While companies jockey for position after …
The explosions that recently devastated the Port of Tianjin highlight the danger of accumulation risks – when a single event causes an exceptionally large group of related losses, said the International Union of Marine Insurance (IUMI). IUMI President Dieter Berg …
Insurance claims from the devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit ratings agency Fitch said on Tuesday. Credit Suisse analysts estimated that total insurance losses …
Standing in front of a crowd of several hundred members of the insurance industry, San Diego Mayor Jerry Sanders must have hit the nail on the head during a speech to the industry on Monday, because agreeable nods could be …
