Companies may face 'heightened' and growing risk of political violence and civil protests driving losses through damage to buildings or business disruption according to a new report by Allianz Global Corporate & Specialty (AGCS).
Australia's terrorism reinsurance pool, administered by Australian Reinsurance Pool Corporation (ARPC), purchased its retrocession programme for the 2023 calendar year at the same terms and conditions as the previous 2022 programme.
The Financial Supervisory Commission (FSC) has announced that a requirement for capital to be set aside for catastrophe risks related to terrorist attacks, infectious diseases and credit guarantees, will be postponed to the end of 2024.
Globally 100m people were forced to flee their homes in 2021 due to violence, human rights abuses, food insecurity, the climate crisis, war in Ukraine and other emergencies according to a new UN report.
Businesses should prepare for a rise in civil unrest as the cost-of-living crisis follows hard on the heels of the COVID pandemic, according to a new report by Allianz Global Corporate & Specialty (AGCS) .
The market for private Islamic credit and political risk insurance (CPRI) is very much a work in progress, says Jeddah-headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) in its latest quarterly newsletter.
African specialist underwriting agency, Neema Insurance Managing Agency, in collaboration with ASR Re, has launched a new Political Violence Terrorism (PVT) reinsurance solution, according to a Reuters report.
There has been a marked increase in demand for political violence and terrorism cover (PVT) from South African commercial clients following the riots and looting that rocked KwaZulu-Natal and Gauteng in July 2021, notes Mr Cameron Cupido, CEO of Reinsurance Solutions Intermediary Services.
The South African Special Risk Insurance Association (SASRIA) says it cannot afford to cover the country's businesses should the July 2021 riots happen again.
Australia's terrorism insurance scheme, administered by Australian Reinsurance Pool Corporation, has renewed its retrocession programme for the 2022 calendar year.