Middle East shipping lines get a break
05 February 2002
While governments around the world continue to sit on their hands over reinsurers’ refusal to cover terrorism-related risks, shipping companies running to Middle East ports…
International
Paddick wins regulator battle
23 October 2001
Fiesty British broker leader Andrew Paddick has taken on the might of the combined UK insurance industry and the Government, and won…
Liquidator wants the money back
23 October 2001
The ownership of funds held by brokers after the collapse of an insurer was a serious question in Australia following the collapse of HIH last March…
RSA closes reinsurance operation
23 October 2001
Royal & SunAlliance has suspended its reinsurance operations in London, but it’s not in response to the company’s estimated $381 exposure to the September 11 attacks…
Names face big cash call from Lloyd’s
23 October 2001
Lloyd’s is making a $2.26 billion cash call on its institutional investors as well as its private investors – the names – to meet liabilities flowing from the September 11 terrorist attacks…
Terrorist attacks: the cost so far
16 October 2001
Insurers exposed to the US terrorist attacks are still revising their estimates upwards…
US insurers seek a cover solution
16 October 2001
Several US insurers have noted the success of Britain’s Pool Re, a statutory body formed in 1993 to cover property-related damage caused by terrorism…
Even real estate groups want Government intervention
16 October 2001
Insurers aren’t the only ones wanting US Government backing…
PR challenge for insurers
16 October 2001
The spin-doctors are moving in on the global insurance industry, seeing an important sector in need of some expensive advice…
Airlines still pose a major problem
16 October 2001
The European Commission is investigating ways it can help airlines overcome new insurance and security costs being imposed on them after the September 11 attacks…
And airports are a worry, too
16 October 2001
Severe cuts in insurance cover for terrorism and war following the September 11 attacks is also likely to see many European airports close if they can’t get extended government protection…
US turns spotlight on Lloyd’s
16 October 2001
The solvency of the Lloyd’s market is coming under scrutiny from an unlikely source…
Israel will cover maritime rates increase
16 October 2001
Israel’s transport minister has recommended that the state contribute $10 million to meet an increase in maritime rates for ships docking at Israeli ports…
Terror claims and gross uncertainty
09 October 2001
Would insurers give a clearer picture of the possible loss from the September 11 terrorist attacks in the US if they reported their exposures in gross, rather than net, terms..?
How much? No one knows yet, but we’ll pay
09 October 2001
Estimates of the total losses are still over a wide range, although both minimum and maximum estimates are increasing…
New products meet new war risks
09 October 2001
Following the global withdrawal of terrorism cover, expect to see plenty of new niche products providing specific cover coming on the market…
Lloyd’s assesses its exposure
02 October 2001
Lloyd’s new exposure arising from the US terrorist attacks of September 11 is about $3.8 billion – equivalent to 12% of the market’s 2001 capacity…
The New York disaster: no quick answers for insurers
02 October 2001
The direct and indirect impacts of the World Trade Centre disaster may not be understood by insurers for several years, according to ratings agency AM Best…
Japanese stay home as premiums head north
02 October 2001
Japan’s outgoing tourism market, a major source of revenue for Australian tour operators, is drying up rapidly, and so is the insurance cover travelers used to take for granted…
Shipping charges will rise, too
02 October 2001
Shipping companies will also feel the heat from the US terrorist attacks through higher premiums…