Businesses have ranked political risks and violence as a top 10 global risk for the past three years, according to the "Allianz Risk Barometer 2025" demonstrating that it has become a key concern for companies of all sizes. According to a new report from Allianz Commercial, civil unrest ranks as the biggest concern for more than 50% of company respondents globally, reflecting the fact that incidents are increasing and lasting for longer.
Markel has appointed Mr Matthew Brooke as senior underwriter for war and terrorism. In his new role, he will drive the profitable expansion of the international war and terrorism portfolio by identifying gaps in political violence coverage and providing bespoke solutions to insureds globally.
Markel Group has enhanced its wholesale claims service with the appointments of Mr Daniel Thomas as marine technical claims lead, Ms Debbie Larkin as claims manager - energy, liability and terrorism, effective March 31, Ms Natalie Myhill as claims manager - financial institutions (FI) and Ms Rachel Tighe as claims manager - professional indemnity (PI).
The maritime security landscape in the Middle East has entered a new phase of volatility, with amplified risks for commercial vessels operating in arterial shipping lanes.
Tokio Marine Kiln (TMK) has appointed Mr Jack Skinner as head of political violence and terrorism, APAC. In his new role, he will focus on further expanding TMK's presence in key markets across the APAC region and accelerating the team's growth.
Africa Specialty Risks (ASR), the Africa and Middle East focused (re)insurance group, announces the launch of the first Africa Focused Lloyd's Consortium.
Lloyd's, the world's leading marketplace for insurance and reinsurance, has published a scenario which reveals the global economy could be exposed to losses of $14.5tn over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains.
Dhaka Metro Rail, which was hit by vandals during student street protests in July 2024, did not insure its operations although insurance was acquired during the rail construction phase, according to Mr Jahangir Shah, the spokesperson and director of the Insurance Development and Regulatory Authority (IDRA).
The gross premiums of Sri Lanka-based National Insurance Trust Fund Board's (NITF) are expected to surge this year due to a recent directive requiring primary insurers to remit 100% of motor strikes, riots, civil commotion and terrorism (SRCCT) premiums to NITF, up from the previous 12%, says Fitch Ratings.
Australian Reinsurance Pool Corporation (ARPC) is in the process of reviewing the current Cyclone Reinsurance Pool premium rates and is considering minor changes that would be applicable from 1 April 2025.