War and terrorism

Pool Re renews long-standing Guy Carp reinsurance contract following RFP

UK terrorism mutual Pool Re has again renewed its reinsurance broking contract with Guy Carpenter following a competitive tender process, with the Marsh McLennan-owned intermediary handed a three-year mandate with an option to run to five.

Israel’s finance committee approves $6bn aviation war risk guarantee

Israel’s parliamentary finance committee has approved a plan to provide a state guarantee of $6bn to cover war risk insurance for Israeli airlines.

Aviation war market gives notice to certain Israel-domiciled airlines as cover tightens

Aviation war market players have given notice to certain Israel-based insureds, with both the hull war and AVN52 market looking to shorten notice periods for these airlines, The Insurer understands.

Ukraine launches Marsh McLennan-supported war risk data platform

Ukraine has activated the data platform supported by Marsh McLennan that enables insurers, investors and governments to consolidate and analyse war risks in the country.

Threat of Israel-Hamas spillover could see more conservative CPRI underwriting across Middle East

The threat of conflict spreading beyond Israel-Hamas will result in a more conservative underwriting stance throughout the Middle East within the credit and political risk insurance markets, according to industry sources.

Hive and Allianz Commercial collaborate on aviation war facility

Aviation-focused MGA Hive Underwriters and Allianz Commercial have collaborated on an underwriting facility for aviation war risks.

WTW tops aviation bench strength while Gallagher’s Durcan named top broker

WTW has overtaken Gallagher to clinch the top aviation bench strength rating, according to this year’s London’s Leading Brokers Survey conducted by Gracechurch.

Zywave cyber panel: Large buyers struggling to structure towers amid differing war exclusions

A lot of progress has been made on war exclusions in the past six months but it can still be a challenge for large US cyber buyers to work out the differences between versions and to structure their programs so they have the best wording, panellists at a Zywave cyber conference suggested.

Miller and CWD collaborate with Ukraine over Black Sea war risks coverage

Miller and Clearwater Dynamics have collaborated with the Ukrainian authorities on a solution to enable full war risks insurance coverage for vessels operating in the Black Sea.

Insurwave’s Costin: Deteriorating Black Sea situation to hinder war insurance procurement

The deteriorating situation in the Black Sea will impact the availability of war insurance with a reduced number of insurers expected to continue providing cover, according to Insurwave’s Mark Costin.

Martyn's Law: How the UK’s Protect Duty will shake up terrorism cover

The UK’s incoming Terrorism Bill – otherwise known as Martyn’s Law – moved ahead another step in the legislative process in earlier this month and now Fiona Hahlo, partner and Courtney Brotherson, trainee at international law firm RPC, take us through what the Bill means and explore why the London market need to sit up and take note….

Global aviation lessor disputes exceed $10bn as London tally tops $7.7bn

Legal cases launched in the UK, Ireland and US by aircraft leasing firms against insurers over the loss of hundreds of planes stuck in Russia since its invasion of Ukraine now total more than $10bn, analysis by The Insurer shows.

Miller: Stricter war risk reinsurance wordings driving marine exposure back to direct market

Moves by reinsurers to prevent multiple losses aggregating during a war risk event has shifted exposure back to the direct market, which has in turn created upward premium pressure for the class, according to broker Miller.

Ascot pauses Ukraine grain facility after Russia exits grain export deal: Reports

Lloyd’s insurer Ascot has paused quoting cover for its all-risks marine cargo and war facility after Russia pulled out of the Black Sea grain export agreement earlier this week, according to reports.

Beazley hires AGCS’ Nathvani to lead marine hull and war

Beazley has recruited Deepa Nathvani from Allianz Global Corporate & Specialty to head up its marine hull and war unit, replacing Richard Young who resigned early last month, The Insurer understands.

Fidelis’ share of $500mn aviation war market climbs to ~25%

Fidelis Insurance Holdings is estimated to now write up to a quarter of the entire aviation war market after a strategic call to expand aggressively into the post-Russia-Ukraine hard market.

Sudan total losses heighten distress in aviation hull war market

Three commercial aircraft insured for a combined value of more than $125mn have been confirmed as total losses following attacks at Khartoum International Airport in Sudan in April.

Cyber’s role in Russia-Ukraine offers lessons for future conflicts: Howden

The blending of military and cyber warfare in the Russia-Ukraine conflict has not only raised concerns over systemic risks, but also offered lessons into how future conflicts may progress, according to a report by Howden.

A call for crisis evacuation: A reflection on the ongoing Sudan conflict

Aspen’s George Barker outlines how responsive crisis support, coupled with robust evacuation plans and rapid responses, are paramount to safety and survival during crisis events.

Sunak confirms war risk insurance framework to enable $411bn+ Ukraine rebuild

British Prime Minister Rishi Sunak has formally unveiled a new framework for war risk insurance, a move designed to boost confidence across the private sector and fuel the investment needed to rebuild war-torn Ukraine.

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