Category: International Insurance News

News from around the world and how change in this industry affects other lines of business globally.

New marine insurance facility established for Ukraine grain exports

Marc
Marine Insurance - Ukraine Grain Exports

The facility was created along with Ukrainian authorities to use the country’s sea corridor. Ukrainian authorities and marine insurance broker Miller have collaborated to create a new marine coverage facility for Ukraine’s grain experts using the country’s sea corridor. In July, Russia backed out of a UN-supported deal to allow Ukraine’s grain exports to sail from three ports. Since Russia’s withdrawal from the deal, Kyiv has created what it refers to as a new temporary humanitarian corridor for the purpose of sidestepping the stoppage Russia has put in place. Recently,…

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Ukrainian war refugees to receive health insurance in Israel until the end of 2023

Logan B.
Health Insurance - Israel flag and Ukraine flag

The Israeli government is extending coverage to include the refugees from the war in Ukraine. Ukrainian war refugees to Israel had been receiving health insurance coverage within that country until the start of this month, when the cover was stopped. This occurred when the country’s Finance Ministry decided not to allocate funds to that purpose. Now, the Israeli government has decided to extend coverage back to those refugees until the end of the year. The Israeli government recently announced its intention to extend the health insurance coverage to the Ukrainian…

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Iranian government shuts down insurance company due to hijab violation

Nordstrom
Insurance company - Women working

The government has taken action against the Azki.com insurer because of this broken regulation. The Iranian government has suspended the operations of an insurance company called Azki.com after female employees were photographed without wearing the hijab, which is mandatory in business in the country. The insurer is a start-up that sells coverage contracts from main government insurers in Iran. The discovery of the pictures showed that some female employees of the insurance company weren’t wearing their headscarves. This drew heavy criticism from large media in Iran, which demanded that the…

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Ukraine cargo insurance stopped as Russia abandons grain agreement

H. Cutner
Cargo insurance - Stop

Coverage is no longer being offered for shipments from the country as Russia quit the UN-backed deal. A cargo insurance company providing Ukraine grain shipment coverage through a safe sea corridor has now been suspended following Russia’s exit from the agreement backed by the United Nations, according to broker Marsh. Moscow announced that it was stepping away from the grain deal that was established a year ago. The grain deal was made between Russia and the United Nations to help reduce the risk of creating hunger around the world by…

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Will heat insurance help protect the poor against extreme temperatures?

G. Turner
Heat insurance - Thermometer

As climate change makes the world hotter, the poorest workers in the world might benefit from coverage. By April near Ahmedabad, India, temperatures had already reached 100ºF, an extreme being linked to trends relating to climate change, and one against which heat insurance has the potential to protect affected workers. Everyone from physical laborers to people selling products affected by heat could potentially benefit. Last year, temperatures there reached 114.8ºF, at a peak becoming increasingly commonplace, as 2016’s peak was an even higher 118ºF. That location is far from the…

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