Several insurers are excluding war risk in marine insurance policies involving Yemen, after the Houthis who control parts of the country announced on 31 October that they would join the ongoing conflict between Israel and Hamas.
The National Agricultural Mutual Fund ( Caisse Nationale de Mutualité Agricole (CNMA), the leading agricultural insurer in Algeria.
The Jordan Insurance Federation (JIF) has joined the International Union of Marine Insurance (IUMI) on 1 November 2023, to enhance expertise and strengthen the exchange of experiences in marine insurance.
Hong Kong will co-establish the Shenzhen-Hong Kong Financial Co-operation Committee with the Shenzhen authorities in the first half of 2024, Mr John Lee, the Chief Executive of the Hong Kong Special Administrative Region (HKSAR), has said.
Cyber attacks on shipping industry in 2023 cost the target organisation an average of $550,000, a threefold increase from $182,000 in 2022 according to a new report by law firm HFW and maritime cyber security company CyberOwl.
Finance Minister Nirmala Sitharaman has said that there is a need for a full-fledged Indian-owned and India-based Protection and Indemnity (P&I) entity.
Some of the world's largest and important ports may become unusable by 2050 as rising sea levels hit operations according to a new report released in September 2023.
The Saudi Central Bank (SAMA) has announced the issuance of the Marine Insurance Coverage Instructions as part of the ongoing effort to regulate and advance the insurance sector and protect the rights of beneficiaries.
Global ocean hull premiums rose in 2022 by 5.7% to reach $8.4bn, the International Union of Marine Insurance (IUMI) has noted.
COSCO Shipping Captive Insurance has reported net profits each year from 2017 to 2022 and an average return on equity of 4.8% over the last five years (2018-2022), says AM Best.