Aviation
Only 1% of Ukraine war property damage insured
BPL Global founding director Charles Berry has predicted that only 1% of property damage caused by the war in Ukraine will be covered by insurance,
Insurers are helping the advanced air mobility sector to take off
Edmund Tirbutt examines how the insurance industry is helping the advanced air mobility sector create new aircraft to ensure the safe, quick, affordable and sustainable movement of people and goods.
Law firm Ince enters into administration
Law firm Ince Group, previously known as Ince Gordon Dadds, is set to appoint administrators after a major creditor withdrew its support following months of cashflow problems.
Paying all Ukraine war claims would bankrupt insurance industry, warns Howden
The insurance industry would be bankrupted if it were forced to cover all losses associated with the war in Ukraine, David Howden has warned.
Gallagher buys Buck; Pen’s latest deal; Spring’s commercial PI binder
Friday Round-Up: Ahead of Good Friday and the Easter Bank Holiday, Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Are insurers ready for the British space age lift-off?
Analysis: With the British Space Age now a reality, David Worsfold examines how insurers plan to protect those hoping to blast off.
Aercap protests fail as Russian aircraft claims to be heard together
Five lawsuits in which aircraft leasing companies are collectively seeking more than $4bn for the loss of planes stranded in Russia are to be heard concurrently in one trial, a Commercial Court judge has decided.
Russian airlines approach Aercap over ‘potential insurance settlements’
Russian airlines have reached out to aircraft leasing giant Aercap over “potential insurance settlements” after over 100 planes were stranded in the country when conflict broke out in Ukraine last year.
Fidelis breaks ranks in Aercap lawsuit as insurers clash over defences
Fidelis has been permitted to join a $3.5bn lawsuit brought by the world’s largest aircraft leasing company Aercap as a third defendant, despite objections from fellow insurer AIG.
Intelligence: Is drone insurance a market that is still waiting to take off?
Four years on from a drone incident at Gatwick Airport, Martin Friel investigates whether the use of unmanned air vehicles has exploded as predicted and the opportunities this could open up for the insurance sector.
Aercap hits back at argument that $3.5bn claim is barred by a war exclusion
Aercap has hit back at AIG’s argument that a $3.5bn claim in relation to planes seized by Russian airlines is barred by a war exclusion.
Blog: Electric aircraft – the new technology is now on the horizon
With climate change and sustainability flying high on the agenda, the electrification of aircraft is much anticipated. And while we’re some way from seeing fully electric commercial aircraft, Andrew Southall, senior aviation surveyor at McLarens Aviation…
Lloyd's reserves £1.1bn for Ukraine-related losses
Lloyd’s has set aside £1.1bn for losses arising from the conflict in Ukraine, around a quarter of the sum relating to expected aviation losses.
AIG and Lloyd's insurers reject case advanced by Aercap in $3.5bn claim
Insurers have rebuffed claims from aircraft leasing giant Aercap that it is owed either $3.5bn under its all risks policy or $1.2bn under its war risks policy for the dispossession of aircraft by Russian airlines earlier this year.
Intelligence: The fallout from Russia without love
On 24 February, Russia invaded Ukraine in a major escalation of the Russo-Ukrainian War that began in 2014. Edmund Tirbutt investigates how UK insurers have responded to the knock-on effect from the war, and the impact that this might have in the long…
Aercap names AIG and Lloyd’s in $3.5bn lawsuit over planes seized by Russian airlines
Aircraft leasing giant Aercap has launched a $3.48bn (£2.93bn) lawsuit against its insurers as it seeks to recoup losses incurred by the seizure of 141 planes by Russian airlines following Russia’s invasion of Ukraine earlier this year.
British Insurance Awards 2022: Managing General Agent of the Year - Rokstone
Rokstone’s ambitious growth plan caught the judges’ attention with some impressive stats including treble-digit growth in gross written premiums, and development and 100% retention in its entrepreneurial carrier partnerships model.
Data Analysis: Q1 results round-up - Aviva, Beazley, Direct Line, Hastings, Hiscox, Lancashire and Sabre
Insurance Post rounds up the first tranche of quarter one results from a host of major insurers.
Lloyd’s stresses humanitarian response to Ukraine crisis as the aviation market faces complexity of the loss without 'precedent'
Chief of markets Patrick Tiernan called for sympathy for Ukraine in a “tragic situation with devastating human consequences” as he admitted aviation losses would take some time to resolve.
Clyde & Co merges with BLM; Beazley unveils underwriting structure; KGM buys Eridge Underwriting Agency; Blanc becomes WWF ambassador; and Swiss Re warns of global protection gap
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insured value of aircraft facing seizure in Russia far lower than reported asset values, says Neal
The insured value of leased aircraft effectively impounded by Russian airlines is likely between 15% and 20% of the total asset values, Lloyd’s CEO John Neal has said.
Losses from 'major event' in Ukraine will take time to evaluate, says Neal as Lloyd's posts underwriting profit
The Russian invasion of Ukraine will be a major event for the insurance market but the losses will take a long time to evaluate, Lloyd’s CEO John Neal has said.
UK government confirms late March deadline for Russia insurance ban
UK insurers must cancel cover for Russian aviation and space companies from 28 March latest, the government has updated.
UK's insurance sanctions on Russian companies to apply to existing and new business
Sanctions announced last week to bar Russian aviation and space companies from accessing the UK insurance market will apply to both current and new business, according to the Bank of England’s director of risk operations and general insurance Anna…