McGill and Partners, the London-based global specialty insurance and reinsurance broker, has launched a new trade disruption insurance facility in collaboration with Tokio Marine Kiln (TMK) and Convex, offering limits of $95 million, led by TMK. This offering harnesses the …
From the moment pagers began exploding across Lebanon Tuesday, theories began to circulate on how devices considered outmoded in much of the world were turned into dangerous weapons that killed several people and wounded almost 3,000. As Lebanon accused Israel …
Marsh, the insurance broker and Marsh McLennan subsidiary, announced the launch of a first of its kind $50 million port blockage insurance facility, covering shipping ports and terminals around the world. Created by Marsh following the collapse of the Francis …
Toyota Motor was ramping back production at its Japan-based factories on Wednesday after a computer system processing orders for vehicle parts broke down on Tuesday, forcing the closure of 14 assembly plants. The disruption shut down a system that is …
Toyota Motor Corp. on Tuesday said it has suspended operations at all 14 of its assembly plants in Japan due to a production system malfunction, bringing domestic output to a standstill at the world’s biggest-selling automaker. The glitch is preventing …
Parsyl, the Denver-based insurer of essential supply chains, announced the launch of its new Essential Consortium at Lloyd’s of London. The multi-year arrangement initially will bring $20 million in new capacity to the perishable cargo market and will leverage Parsyl’s …
Lloyd’s Europe reports the appointment of Bertrand Heugues as chief underwriting officer effective 14 July. He will be responsible for overseeing underwriting, delegated authority management, claims and the reinsurance business. Bertrand joins Lloyd’s Europe from Ageas in Brussels where he …
Oil spills, port explosions, blockages in the Suez Canal and supply chain risks. These are just some of the events that global space company Skytek has analyzed over the past year for its insurance industry customers. The company helps insurers …
There could be a shortage of merchant sailors to crew commercial ships in five years if action is not taken to boost numbers, raising risks for global supply chains, a report said on Wednesday. The shipping industry is already struggling …
LONDON/BEIJING – A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, …
