energy insurance News

German Industry Sounds Alarm on Infrastructure Security After Tesla Attack

German industry called for better protection of critical infrastructure on Wednesday after a suspected arson attack by leftist activists on Tesla’s gigafactory outside Berlin halted production until further notice. Security officials cleared the Tesla site on Tuesday after what CEO …

AXIS Capital’s Syndicate 2050 Gets Full Lloyd’s Approval to Begin Underwriting

AXIS Capital Holdings announced it has received full approval from Lloyd’s to begin underwriting from April 1, 2024. AXIS first announced in December that it had secured in-principle approval from Lloyd’s to establish a new syndicate that will focus on …

Damaged Subsea Cable in Red Sea Highlights Telecom Vulnerability

A subsea cable off the coast of Yemen that connects Europe to India has been damaged, and the telecommunications carrier that owns it must now figure out how to make underwater repairs in a war zone. Seacom Ltd., the South …

AXIS Gets In-Principle Approval to Launch Energy Resilience Syndicate at Lloyd’s

AXIS Capital Holdings Ltd. announced it has received in-principle approval from Lloyd’s to launch a syndicate that will focus on providing capacity for new energy projects with a critical role in supporting the transition to net zero. Through Energy Resilience …

Three Baltic Pipe and Cable Incidents ‘Are Related’: Estonia

The three incidents that resulted in damage to a gas pipeline and two telecom cables between Estonia, Finland and Sweden “are related,” Estonian Prime Minister Kaja Kallas said. Finnish police leading the pipeline investigation have named the Hong-Kong-flagged container carrier …

Probe of Damaged Baltic Sea Pipeline, Telecoms Cable Focuses on Chinese-Owned Ship

Estonia’s investigation into a damaged Baltic Sea telecoms cable will focus on the actions of a Chinese-owned vessel, the country’s prosecutor general said, after Finland blamed damage to a nearby pipeline on a ship. Early on Oct. 8, a gas …

Baltic States Beef Up Infrastructure Defense After Suspected Pipeline Sabotage

Power grid operators around the Baltic Sea are beefing up protection of subsea cables and other critical infrastructure after the suspected sabotage on a gas link between Finland and Estonia last weekend. Government officials in Lithuania ordered more naval patrols …

Finland Says Damage to Gas Pipeline, Telecoms Cable Likely Result of Deliberate Act

A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea have been damaged in what may have been a deliberate act, the Finnish government said on Tuesday. NATO Secretary General Jens Stoltenberg said NATO …

Wind Power Industry Hit by Perfect Storm of Supply Chain Delays, Design Flaws, Costs

A perfect storm of supply chain delays, design flaws and higher costs in the offshore wind industry has put dozens of projects at risk of not being delivered in time for countries to meet climate goals, industry executives, investors and …

Australia’s New Hope to Ramp Up Coal Output, Sees Modest Insurance Premium Hikes

Australian miner New Hope Group’sCEO Rob Bishop said on Tuesday plans are progressing to double output over the next three years to meet an expected surge in demand for coal-fired power, after reporting a nearly 11% rise in fiscal 2023 …