Energy
Lloyd's Register exits Iran amid sanctions furore
Lloyd's Register has closed its operations in Iran, fearing a blacklisting in the US if it failed to terminate the business.
Indian insurer will provide liability cover for tankers carrying Iranian crude
State-owned Indian insurer General Insurance Corp of India will step forward to provide third-party liability cover of up to $50m for ships bringing Iranian crude oil from Iran, according to reports.
China considering sovereign guarantees to keep oil flowing
China will review the possibility of sovereign guarantees to enable the nation's ships to import Iranian crude oil after EU sanctions come into effect in July, the head of the China Shipowners' Association has said.
Ace appoints Asia Pacific energy casualty underwriter
Ace has named Shaun Oliver as Asia Pacific Energy Casualty Underwriter.
Career development: ECIC offers energy training for brokers
Electrical Contractors Insurance Company has launched a renewable energy training scheme for its broker partners.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.eu over the past seven days.
Japan discusses tanker cover for sanctions-hit ships
The Japanese government may yet step in to to compensate for the insurance shortfall faced by tankers carrying Iranian oil.
Energy insurers discriminating in favour of differentiated risks
The energy market recorded its worst ever year for non-windstorm losses in 2011 with close to $9bn in combined insured and uninsured total losses, according to Willis' Energy Market Review.
RSA launches renewables research scheme
RSA today launched its Rethinking Risk: Renewable Energy campaign at the European Wind Energy Association conference in Copenhagen.
Middle East guest blog: A silver lining?
The United Arab Emirates insurance industry went from denial of the financial crisis in 2008 to a rude awakening.
Japanese insurers to limit tanker coverage due to sanctions
Japanese oil buyers will be forced to coordinate schedules after insurers warned they will cover only one tanker transporting Iranian oil at a time after the 1 July sanctions deadline.
Glad to be a loss adjuster: Interview with Crawford CEO Greg Gladwell
To give Crawford & Company an advantage over its competition, chief executive Greg Gladwell is harking back to the glory days of loss adjusting, playing up its heritage and his own insurer pedigree
State-provided cover needed to insure China's crude supplies
Tankers carrying Iranian oil will not be fully covered by Hong Kong marine insurers after EU sanctions take effect from July, an industry official told Reuters.
Middle East and Asia energy markets buoyed by excess capacity
Competition and excess capacity continued to strengthen the market for energy insurance buyers in Asia and the Middle East in the first quarter, according to a Marsh energy report.
Insurance Insight – top 10 stories
The top 10 most popular articles on insuranceinsight.eu over the past seven days.
Swiss Re launches into Middle East after being granted licence for DIFC
Swiss Re Corporate Solutions has received a licence from the Dubai Financial Services Authority to operate in the Dubai International Financial Centre.
Industrial assets underinsured by up to 60% in Asia
Telecommunications, energy and petrochemical companies are underinsuring their industrial assets by 30% to 60% in Asia, according to a new report by Marsh, and John Foord, an industrial asset valuation firm in Asia.
Energy: Overcapacity causing problems as market rates stagnate
It has been a tumultuous few years for the insurance industry, and not many sectors have been affected as much as energy.
Post magazine - 29 March 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
China considers domestic shipping system to protect oil imports
China may create an integrated shipping system for imported oil via cooperative agreements among state-owned shipping lines, refineries and insurance bodies, with the goal of ensuring energy security.
Insurance Insight – top 10 stories
The 10 most read stories from www.insuranceinsight.eu over the past seven days.
EU foreign policy head confirms exemptions to Iran oil sanctions
Further details have emerged concerning the European Union's decision on Friday to allow some insurance for Iranian oil shipments heading for destinations outside the EU.
EU may allow limited coverage for Iranian oil shipments
Intense lobbying by South Korea and Japan has led the EU to relax its ban on insuring Iranian oil shipments, according to Reuters.
JLT warns against buying cheap nuclear build insurance
Speaking at the European Nuclear Forum in Brussels today, JLT's Global Nuclear Practice Group warned consumers of the risk of buying nuclear new build insurance cheaply and ultimately paying for insurance twice.