Lloyd’s of London has announced that it is working with the government of the United Kingdom for the implementation of sanctions against Russian firms due to the war in Ukraine, including cancelling their insurance policies.
Last week, Russian President Vladimir Putin, with a stroke of his pen, upended the entire aviation industry in one fell swoop. After Bermuda suspended all airworthiness certificates for Russian-operated aircraft on its registry to comply with sanctions against Russia, Putin signed a law to allow regional and national airlines that leased aircraft from foreign companies to list on Russia’s registry and ‘to ensure the uninterrupted functioning of activities in the field of civil aviation.’
In the late 1980s, Qualcomm Inc. made a revolutionary change by developing two-way mobile satellite communications and vehicle tracking for the commercial trucking industry. For the first time, a fleet manager could pinpoint the location of one of his assets in real time and communicate with its driver.
Ukraine (UKR) is one of the largest insured risks for political risk insurance (PRI) and trade credit insurance (TCI). This predates the current situation in Ukraine and started immediately after the country’s accession to sovereignty in 1991.
We wake up every day to a pattern of record ransoms being paid as well as record increases in cyber-insurance cost. The Bloomington School District in Illinois published its cyber-insurance renewal costs and reported a whopping 334% increase in premiums.
Thanks to high-profile hacks with visible, real-world consequences like the Colonial Pipeline hack, 2021 will be remembered by many as the year cybercrime prevention started to actually matter.
Earlier this month, pharma-giant Merck won a $1.4 billion lawsuit over insurance companies’ duty to pay for the damages stemming from the 2017 NotPetya cyberattack.
Cyber war is at our digital doorsteps—and if some observers are to be believed, has crossed the threshold and entered our daily existence. While it’s certainly true that nation-states across the world now approach cyberspace as another operational domain, what actually constitutes a declaration of war in this dimension is the subject of heated debate.
All insurance professionals have heard of "acts of God" relative to insurance. But what does this phrase mean, and what implications are there for builders risk insurance?
According to a new report from Insurance Information Institute (Triple-I), social inflation has increased claim payouts for commercial auto insurance liability in the US alone by over $20 billion between 2010 and 2019.
Oklahoma City firefighters battled a large commercial fire at NW 63 and Western Tuesday night and into Wednesday. OKCFD Chief Benny Fulkerson said the structure was a large under-construction apartment complex.
Merck & Co.‘s victory in a legal dispute with insurers over coverage for $1.4 billion in losses from malware known as NotPetya is expected to force insurance policies to more clearly confront responsibility for the fallout from nation-state cyberattacks.
The risk of theft from storage facilities has increased over the last few months in the United States, according to a report from freight insurance company TT Club and business improvement and standards firm BSI.
A section of the Union Pacific train tracks in downtown Los Angeles has been littered with thousands of shredded boxes, packages stolen from cargo containers that stop in the area to unload.
