Category: Geo-Political

October 3, 2022

Hurricane Ian is one of the most severe tropical cyclones to make landfall in Florida – and its resulting economic loss could break records, a new report from DBRS Morningstar has found. The global credit rating agency has projected that […]

September 29, 2022

As I type, Hurricane Ian is bearing down on the west coast of Florida and looking likely to make landfall in the Port Charlotte area. Having intensified to a category four storm – with winds of 155mph just a couple […]

September 27, 2022

GIA Map is betting it has a successful future helping carriers and others understand present and future risk of wildfires and other hazards. Launched in 2017 in California, the tech startup is an underwriting hazard system for both underwriting and […]

September 23, 2022

Executives at Munich Re say the company is aiming to “push the boundaries of insurability” in its efforts to help understand and mitigate the impacts of climate change. Speaking at a briefing during the 2022 RVS event in Monte Carlo […]

September 19, 2022

Hurricane Fiona has impacted Puerto Rico heavily with the island experiencing a historic rainfall event, as two-foot of rains are forecast from the storm, with locally maximum amounts of up to 30 inches warned. The storm is largely causing impacts […]

September 16, 2022

Reinsurers are showing a diverging appetite for Florida property catastrophe risk, says Moody’s, ahead of further anticipated price increases and coverage constraints going into 2023. The rating agency noted that many reinsurers chose to hold steady or cut their Florida […]

September 14, 2022

US insurers have minimal investment exposure to the insurance-linked securities (ILS) and catastrophe bond market, despite the fact that this asset class has seen significant growth in recent years, according to a new report by AM Best. In its recent […]

September 2, 2022

Globally, insurance and reinsurance market losses from flooding have accelerated significantly, with a doubling in the total in a decade to reach US $80 billion over the 2011 to 2020 period, but then another acceleration into 2021 when they reached […]

August 25, 2022

Russian coal exports were effectively halted by a European Union ban on entities within the 27-nation bloc servicing shipments of the fuel to anywhere in the world. Suek JSC, Russia’s largest thermal coal miner, was unable to ship the fuel […]

August 23, 2022

Broker Marsh and Lloyd’s of London insurer Ascot said on Tuesday they have provided coverage for a vessel carrying grain and food products from Ukraine’s Black Sea ports under its new marine cargo and war insurance facility. Launched last month, […]

August 18, 2022

New research by KBRA says that Florida property insurers are facing storms on multiple fronts as the 2022 Atlantic hurricane season approaches its peak. The company’s work refers to the updated Atlantic hurricane season forecast that was released by Colorado […]

August 5, 2022

The expectation is that the 2022 Atlantic Hurricane season will still experience an above-average level of activity, despite both Colorado State University (CSU) and the National Oceanic and Atmospheric Administration (NOAA) lowering their forecasts in recent days. In its August […]

August 3, 2022

Hiscox is committed to a planned insurance consortium providing cover for ships traveling through a safe passage from Ukraine, its chief executive said on Wednesday, as the Lloyd’s of London insurer shares plunged on a first-half loss. The first grain-carrying […]

July 29, 2022

Lloyd’s of London insurer Ascot and broker Marsh MMC.N on Friday launched marine cargo and war insurance for grain and food products moving from Ukrainian Black Sea ports, removing a hurdle to getting shipments underway. Russia and Ukraine signed a […]

July 8, 2022

Leading aircraft leasing firm, SMBC Aviation Capital, has said it is “unlikely” that it will be able to recover 34 owned aircraft stranded in Russia following the country’s ongoing invasion of Ukraine and subsequent sanctions, leading the company to recognise […]

July 6, 2022

Tropical Storm Risk, one of the insurance and reinsurance industry supported forecast teams, has raised its prediction for activity levels in the 2022 Atlantic hurricane season, while saying landfall chances are above normal as well. Previously, Tropical Storm Risk (TSR) […]

June 30, 2022

Imprecise forecast and modelling, “flood dementia”, and inadequate early warning systems are some of the issues to be addressed to improve flood resilience and prevention, according to Zurich. Last year, the extreme weather event “Bernd” caused great human suffering, and […]

June 29, 2022

A unit of Carlyle International Energy Partners LP has assumed the full risks of operating a new gas field in the Romanian waters of the Black Sea as insurers shun the zone because of its proximity to the war in […]

June 28, 2022

China’s third-most populous province Henan will launch pilot programs for catastrophe insurance in six cities that were the hardest hit by historic floods last summer. Aside from its capital Zhengzhou, trials are to be set up in the cities Anyang, […]

June 27, 2022

Group of Seven nations are discussing a cap on the price of Russian oil that would work by imposing restrictions on insurance and shipping, according to people familiar with the matter. The potential mechanism would only allow the transportation of […]