war risk insurance News

Sweden Probe Into Broken Cable Advances as Seabed Study Winds Up

Sweden’s Navy completed a survey of the seabed near one of the damaged data cables in the Baltic Sea as the Nordic country investigates potential sabotage against the underwater infrastructure. A high-speed fiber optic cable connecting Finland and Germany was …

Finland and Lithuania Report Severed Undersea Data Cables

An undersea data cable connecting Finland and Germany was cut in the early hours of Monday by what was likely an external impact and a nearby link between Lithuania and Sweden was also damaged. The 1,200-kilometer (750-mile) high-speed fiber optic …

UK Warns of Grain Threat After Russia Steps Up Port Attacks

An increase in Russian attacks on Ukrainian port infrastructure in recent weeks threatens food shipments to destinations from Gaza to southern Africa, the UK warned. British intelligence has detected a “noticeable increase in Russian risk appetite,” leading to at least …

Russian Missile Hits Fourth Cargo Ship in Ukraine This Month

A Russian missile hit a fourth cargo ship in Ukraine this month, as the Kremlin ramps up its attacks on Kyiv’s trade infrastructure. A grain storage facility at Odesa port was attacked on Monday, killing one person and injuring two …

Insurance Claims Confirm Many Israeli Structures Damaged in Iran Attack

Damage to private property from Iran’s recent missile barrage on Israel amounted to 150 million to 200 million shekels ($40 million to $53 million), according to figures provided by Israel’s tax authority, making it the costliest since the start of …

Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources

A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said on Thursday. Russian ballistic …

Geopolitical Conflict Could Cost Global Economy $14.5 Trillion Over 5 Years: Lloyd’s

The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report published by Lloyd’s, …

Houthis Warn Shipowners in New Phase of Red Sea Campaign: Prepare to Be Attacked

On a warm spring night in Athens, shortly before midnight, a senior executive at a Greek shipping company noticed an unusual email had landed in his personal inbox. The message, which was also sent to the manager’s business email address, …

AXA, Aircraft Lessor DAE Clinch Deal as UK Battle Over Jets Seized in Russia Kicks Off

Aircraft lessor Dubai Aerospace Enterprise (DAE) has secured a settlement with insurer AXA over jets retained in Russia since the 2022 invasion of Ukraine, raising the prospect of further deals as a London High Court “mega trial” kicked off. Alistair …

Global Insurers Fight London Court Battle Over Jets Seized in Russia

Insurers are playing “pass the liability parcel” in a desperate fight against multi-billion dollar claims over aircraft stranded in Russia since the invasion of Ukraine two years ago, lawyers for aviation lessors told a London trial on Wednesday. Mark Howard, …