Could G-7 Sanctions Against Russia Have Unintended Insurance Consequences? December 16, 2022 By L.S. Howard The G-7 sanctions on Russian oil, which include a $60 per barrel price cap and restrictions on key services such...
Ship Reinsurers to Cease Covering War-Related Risks Related to Conflict in Ukraine December 16, 2022 By Steven Arons, Áine Quinn and Alex Longley Some of the biggest names in ship reinsurance are days away from ceasing to cover key war-related risks for vessels...
Russia Insurer Ingosstrakh Has No Plans to Fill Insurance Gap Caused by Sanctions December 13, 2022 Russian insurer Ingosstrakh said on Monday it has no plans to offer policies to new clients who may lose coverage...
Scope of EU Ban on Russian Coal and Fertilizers Jolts Insurers August 15, 2022 By Alex Longley and Alberto Nardelli The European Union jolted insurers and shippers by clarifying that a ban on EU entities servicing exports of Russian coal...
Insurance (or Lack of It) Is Russian Oil’s Achilles’ Heel May 25, 2022 By Jonathan Saul, Nidhi Verma, Yuka Obayashi and Carolyn Cohn Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens...
Russia’s Leading Shipping Firm Sovcomflot Plans to Sell Part of Its Fleet: Report May 6, 2022 Russia’s leading shipping company Sovcomflot plans to sell part of its fleet, it said on Friday, as it grapples with...
Western Ship Insurers Terminate Cover for Russia’s Sovcomflot as Sanctions Expand May 4, 2022 By Jonathan Saul Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved...
Ukraine Urges Marine Insurers to Withdraw Coverage for Russian Shipping Companies March 31, 2022 By Benjamin Robertson The Ukrainian government has asked international marine insurers to stop all dealings with shipping companies carrying Russian fossil fuels in...
Bangladesh Files $22.4M Insurance Claim After Missile Hits Ship in Ukraine March 21, 2022 By Ruma Paul and Jonathan Saul State-owned Bangladesh Shipping Corp. is seeking $22.4 million from its insurer for a cargo ship hit by a missile in...
Insurer Disappointed After Egyptian Court Upholds Detention of Tanker Ever Given May 6, 2021 By Yusri Mohamed CAIRO – An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could...