Articles by Carolyn Cohn and Noor Zainab Hussain

Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots

Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential conflict hot spots. Political violence cover, which businesses can take out to …

Insurers Review Middle East Events Policies After War Leads to Cancellations

Some insurers are excluding Israel, Lebanon and other Middle Eastern countries from their event cancellation policies after the Israel-Hamas war resulted in some activities being pulled. European Aquatics last week called off the continental water polo championships, which was scheduled …

Aviation War Insurers Cancel Cover for Airlines Domiciled in Israel, Lebanon: Sources

Aviation war insurers have given notice to cancel cover for some airlines domiciled in Israel and Lebanon because of the conflict in the region, with some cancellations already taking effect, three industry sources with direct knowledge of the matter said. …

Major Aviation Insurer AXA Pulls Back on War Coverage After Ukraine Losses: Reuters

The commercial arm of French insurer AXA is reducing cover offered to aviation companies as it seeks to protect the multibillion-euro business after heavy Ukraine-related losses, two underwriting and broking sources told Reuters. One of the top 10 players in …

Insurers Denying Coverage to FTX-Linked Crypto Firms as Contagion Risk Mounts

Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange FTX, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft or lawsuits, several market participants said. Insurers were already reluctant to underwrite …

Climate Activists’ Attacks on Paintings Add to Insurers’ Worries About Threats to Art

Climate activists’ attacks on some of the world’s most precious paintings have added to insurers’ worries about the threat to art from climate change itself, concerns seen as leading to higher art insurance premiums. In recent weeks, activists have drawn …

Ukraine Insurance Pricier, Harder to Organize Than During Iraq War: Sources

Insurance for humanitarian workers, journalists, engineers and others heading to Ukraine is now more expensive and harder to organize than during the Iraq war. While initially nervous about providing cover in the immediate aftermath of Russia’s February invasion of Ukraine, …

AXIS to Stop Insuring Energy, Mining Without Backing of Indigenous Communities

Reinsurer AXIS Capital said it would refuse to underwrite energy, mining and other projects that did not have the backing of local indigenous communities, in a move welcomed by campaigners as setting a new industry standard. The decision follows years …

Low Rate of Flood Insurance Cover Spells Danger as Climate Crisis Deepens

Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18%, according to Swiss Re Institute’s economic insights report focused on floods. Climate change has led to an …

Lloyd’s Insurer Ascot, Marsh Provide Coverage for Grain Ship Sailing From Ukraine

Broker Marsh and Lloyd’s of London insurer Ascot said on Tuesday they have provided coverage for a vessel carrying grain and food products from Ukraine’s Black Sea ports under its new marine cargo and war insurance facility. Launched last month, …