Hints and tips:
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Shipowners already had to notify their underwriter before moving through a designated portion of the Red Sea, and pay an additional premium....
...The incident is the latest example of shipowners from around the world being dragged into an intensifying conflict in the Middle East, following a series of attacks on Israel-linked and other vessels by...
...Major oil companies often stop using tankers after 15 years of wear and tear....
...The International Group P&I clubs are mutually owned by shipowners and charterers and offer insurance for third-party liability such as crashing a vessel....
...Trafigura chief executive Jeremy Weir said his company’s position was “under review” but would only change if there was broad-based agreement from banks, insurance companies and western governments that...
...“Several shipowners have reportedly been unwilling to make bookings from the Baltic or Black Sea due to the lack of war insurance.”...
...Costs will have to be absorbed or paid out from a mutual liability insurance available through a group of shipowners’ clubs called the International Group of P&I Clubs....
...While few are yet predicting shipping through the Strait will grind to a halt, at a minimum shipowners are likely to face higher insurance costs....
...Add £76 a month for motor insurance and £119 for a residents parking permit and our Fiat 500 was on the road for a modest starting cost of £1,145....
...policy for shipowners or airlines against a spike in fuel costs....
...Mr Dachille said that AIG’s residential portfolio had been “limited” in large part because it had already been exposed to the housing market through its mortgage insurance business, United Guaranty Corporation...
...Here, its ambitions have, so far, been more limited and the management team is still in place. Strategic change has been limited to some refurbishment and some efforts to attract Chinese tourists....
...Restrictions on the insurance and transport of Iranian crude by European companies are expected to be lifted, as well as a bar on trade in Iranian petrochemicals with the EU....
...Well, all that, plus a cocktail served on deck, mixed company and decent cooking, you might think....
...P&I clubs are mutually owned by shipowners and cover their third-party risks such as pollution....
...Assured Guaranty, backed by billionaire Wilbur Ross, remains the only active bond insurer, reflecting its limited exposure to mortgage bonds. However, it lost its last triple A rating last month....
...The longer this persists, the more limited the potential for the reemergence of a strong and vital bond insurance sector, in our view....
...The government has decided to block the UN plans amid worries they could force shipowners and their advisers to stop paying ransoms or else risk prosecution....
...But it’s been all downhill since then, and on Wednesday, S&P declared the outlook for the bond insurance industry was “uncertain”, and pointed out that only one active bond insurer remained – Assured Guaranty...
...“Pension funds, insurance companies and fiduciaries and also a lot of family offices are moving out of this space. If they still want an absolute return strategy they will look at Ucits.”...
...But BBVA’s absorption on Friday of Guaranty Financial, the distressed Texas bank auctioned by the Federal Deposit Insurance Corporation, suggests Spain’s large lenders are ready to capitalise on Anglo-Saxon...
...Two’ and raiding people out of ‘A.I.G. One,’ ” said Douglas A. Love, an insurance executive who has also hired A.I.G. talent for his company, Investors Guaranty Fund of Pembroke, Bermuda....
..., including Financial Guaranty Insurance Company and FGIC UK Limited (collectively “FGIC”)....
...York and Illinois insurance regulators....
International Edition