Insurance rates spike for businesses with exposures to the Russian war in Ukraine

Insurance rates skyrocket - Newspaper

Premiums have doubled or more for certain companies most affected by risks from the conflict. Insurance rates for businesses with exposures to the Russian invasion of Ukraine have doubled or more. This is particularly true of shipping firms and certain airlines. Throughout the first quarter of 2022, global commercial coverage premiums rose by 11 percent. The 11 percent insurance rates increase was announced by broker Marsh, which said that the Russian war in Ukraine was placing upward pressure on the premiums businesses are paying. That said, the overall hike in…

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Airline liability insurance may be unlimited in Germanwings crash

mountain alps airline liability insurance plane crash

The subsidiary of Lufthansa could be facing claims in the multi-million dollar range, well above the usual cap. Germanwings, the subsidiary of Lufthansa that saw one of its jets fly into a mountain in the Alps, could be facing larger airline liability insurance claims than are typical in this type of scenario, according to some lawyers in the aviation industry. Whether or not a cap will remain in place will greatly depend on whether the airline is seen as negligent. According to prosecutors in the case, the young co-pilot from…

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