Rising competition for supremacy over soil, sea, and space will fuel future global geopolitical tensions as nations seek to stake their claims on sea-based borders, previously untapped mineral resources and the all-but-unregulated cosmos according to a new report from global insurance brokers Marsh.
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.
The 2022 WTW political risk survey results paint a picture of globalised companies surprised to be caught between geopolitical competitors.
Japanese non-life insurers have suspended undertaking new contracts entirely with domestic firms that operate in Russia, affected by Moscow's countermeasures against economic sanctions following its invasion of Ukraine, reported Kyodo News citing sources close to the matter.
AIG, one of the world's biggest commercial insurers, is considering cutting cover for Russia and Ukraine, to shield itself from the risk of hefty claims as sanctions ratchet up and the war drags on, reported Reuters.
Egypt's Parliament has passed a government-drafted law on providing insurance to state-owned EgyptAir to ease difficulties faced by the national airline amid the Russia-Ukraine war.
The Dubai-headquartered Continental Group, a leading insurance intermediary and financial services provider in the GCC region, has commissioned a survey that 89% of respondents say that inflation, which has been exacerbated by the Russian-Ukrainian War, has taken its toll on their household spending.
Weak leadership, cyber and climate change have been named as the top risks facing South Africa during the next year according to a survey of the country's risk managers by the Institute of Risk Management of South Africa (IRMSA).
The direct impact of the Russia-Ukraine war on the Arab insurance market, as a result of dealing with Russian reinsurers, is negligible.
Commercial credit insurance and marine insurance -- transporting goods and ship hulls -- and political violence are the lines most hit by the Russian-Ukrainian war, where war insurance coverage is provided, in the view of Mr Khaled El-Sayed, managing director of Apex-Egypt Reinsurance Brokerage.