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...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...Much of it will support the new Hermandad Marine Reserve and the existing Galápagos Marine Reserve, while there will be funding for an endowment for marine conservation....
...Tokio Marine & Nichido Fire, which is one of Japan’s largest underwriters of corporate insurance against cyber attacks and a prime target for ransomware gangs, acknowledged to customers last month that it...
...Lloyd’s boss John Neal told the Financial Times that the incident had the potential to produce the largest marine insurance claim in history, topping the crash of the cruise ship Costa Concordia in 2012,...
...The Bond and Credit Company’s parent company Tokio Marine earlier this year accused Greensill Capital of having “fraudulently obtained” these insurance policies....
...In recent years, 44 of the world’s biggest insurers, including five that have previously insured Carmichael — Brit, Apollo, Tokio Marine Kiln, Aspen and Ascot — have said they will not provide coverage to...
...Insurance Australia Group, one of the main insurers to Greensill Capital, has said that rival Tokio Marine and broker Marsh McLennan should share in any liability if investors in the failed lender win a...
...IAG added that if the court ruled it had to pay out on the insurance, it would rely on the 2019 agreement to pass the credit insurance exposure to Tokio Marine....
...risks that at the moment they are charging an awful lot of money for, and we’re asking them to do it for less because of the support that the Ukrainians are [providing],” said Marcus Baker, global head of marine...
...Greensill’s insurers, which include BCC’s former parent Insurance Australia Group, Tokio Marine and Zurich are refusing to pay out on the company’s credit cover....
...The centuries-old market has been at the heart of the marine insurance sector since its inception....
...Tokio Marine has accused Greensill Capital of using “fraudulently obtained” insurance policies....
...Neal stressed “cover can be given” for major state-backed cyber attacks but only through add-on policies that clearly set out the terms and cover, such as is the case for other lines of business such as marine...
...Aviation accounts for roughly a quarter of expected Lloyd’s payouts, with losses also expected from insurance lines such as marine and credit....
...Those seeking reinsurance in speciality areas such as aviation and marine also had to contend with the “most challenging renewal in a generation, reflecting the potential for large losses from the Russia-Ukraine...
...Tokio Marine and Insurance Australia Group, which insured the bulk of Greensill’s riskier lending, have both accused Greensill of making “fraudulent” misrepresentations and declined to pay out on any claims...
...The collapse in shipping activity at Black Sea ports is likely to reflect the risks and soaring costs of marine insurance incurred by those operating in the region....
...One key area of marine insurance is liability cover, which covers shipowners for huge accidents such as oil or bunker fuel spills that can incur multibillion-dollar claims....
...However, Chris McGill, head of marine cargo underwriting at Ascot, which is leading the insurance consortium, said insurers were pricing the deal on the basis that the agreement will hold....
...Samsung Fire & Marine and Samsung Life have provided more than Won16tn ($13.8bn) in backing for the coal industry through project financing, bonds and insurance underwriting since 2009, according to data...
...Lloyd’s highlighted aviation, marine, credit and political risk insurance as areas that would attract claims....
...The sanctions will affect just a slice of business at Lloyd’s — aviation is the second-largest area within marine, aviation and transport, which in total amounted to 8 per cent of Lloyd’s premiums last year...
...Questions have also been raised about the Razoni’s insurance....
...IAG, Tokio Marine and the Japanese insurer’s wholly owned subsidiary BCC provided trade credit insurance to Greensill, whose implosion is threatening tens of thousands of jobs among its customers in the...
...Tokio Marine has declined to comment on its remaining exposure to Greensill....
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