Geopolitical tensions, protectionist policies and shifting economics are reshaping global supply chains, raising costs, amplifying uncertainty and increasing the risk of long-term fragmentation, said Swiss Re.
Tokio Marine Kiln has appointed Ms Phoebe Liew as special risks underwriter, focussing on credit and political risk.
Increasing riots, civil disturbances, political conflicts and public unrest make it important that the property and casualty insurance policies include covers against riots and civil disturbances according to Indonesian financial services regulator Otoritas Jasa Keuangan (OJK).
The African Trade & Investment Development Insurance (ATIDI) has issued a 10-year Political Risk Insurance (PRI) policy to Sumitomo Corporation, a key Japanese partner in a consortium that invests in Safaricom Telecommunications Ethiopia (STE).
BPL, an independent credit and political risk insurance (CPRI) broker, has announced that group CEO Ms Sian Aspinall has decided to step down from her role, with the view to appointing deputy CEO Mr James Reynolds in her place.
The insurance cost of shipping goods through the Red Sea has more than doubled in recent days after Yemen's Houthis attacked and sank two ships, killing at least four seafarers after months of calm, Reuters has reported, citing industry sources.
Texel Group, an independent, specialist credit and political risk insurance broker, has completed its the transition to 100% employee ownership, through the creation of the Texel Employee Ownership Trust (EOT).
The Insurers Federation of Egypt (IFE) has said that traditional actuarial models are no longer sufficient in light of accelerating geopolitical changes. It has become necessary to introduce additional premiums under the "geopolitical risk" clause and reduce coverage in conflict zones.
The Egyptian insurance industry is monitoring the escalation of the ongoing war in the Middle East between Israel and Iran and its impact on insurance coverage, premium rates and compensation costs.