Hiscox to provide shipping insurance for Ukraine grain corridor

Shipping insurance - Ship with cargo
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The Lloyd’s of London insurer has committed to an intended coverage consortium for the purpose. Hiscox has announced its commitment to a planned shipping insurance consortium that will offer coverage for ships moving through a safe passage corridor from Ukraine. The Lloyd’s of London insurer faced notable first-half losses, sending its shares downward. Ukraine has now finally had its first grain-carrying ship head out of its port since the start of Russia’s war there. This has occurred following a deal brokered by the United Nations and Ankara. The ship departed…

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Cyber insurance premiums rise while availability falls amid growing threats

Cyber Insurance - Digital

Though the coverage has been around for about a couple of decades, the risks are skyrocketing. Cyber insurance isn’t new to business coverage offerings, but as data breaches, ransomware attacks and other risks rise, so are premiums, while availability is dropping. The coverage is meant to help businesses overcome losses associated with these digital events. Losses covered by cyber insurance can include everything from the cost of repairing the damage to systems and securing them, recovering lost business or disruptions, paying ransoms, rebuilding a reputation and even legal fees in…

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Treasury Department investigates insurance coverage impact of climate change

Insurance coverage - Climate Change Investigation

Concern is rising over the harm increasingly extreme weather is having on property rates and availability. The US Treasury Department is addressing rising concern over the impact of climate change on the availability and affordability of property insurance in disaster-prone areas. The Treasury is now launching the first nationwide insurers’ financial exposure assessment to climate risk. A preliminary email was issued by the Federal Insurance Office to regulators in every state. The email requested the data they had available for insurance coverage, liabilities and losses across the last half decade…

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US growers say crop insurance is critical to farming family survival

Crop insurance - farming

Producers face significant challenges and depend on the stability of the coverage. Crop insurance is a coverage growers rely upon as a form of safety net to keep their farms – and the families they support – alive. The policies help farmer to continue to keep their businesses intact despite growing challenges. The coverage helps farmers – including those whose families have been farming for generations – to rely on added stability to ensure their businesses can continue. “We couldn’t make it without crop insurance. I mean, we put so…

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How To Find The Right Commercial Insurance In The New Normal

commercial insurance company financial rating(2)

Running a business has many risks; you may encounter a fire, have your goods stolen, or suffer water damage. And in the occurrence of these events, there’s a high likelihood of business closure until you get things back on track. Business closure is disadvantageous since you might lose clients to your competitors, reducing your income.   Insurance companies work to quicken the recovery process by providing you with financial assistance under compensation. With that, you’ll be back in business within no time, and with the money, you’ll recover all that’s damaged.…

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Insurance Tips That Could Help You Stay on Top of Finances

money in pocket to help with finances

Different people deal with their own finances in different ways, and part of that is simply down to the fact that these situations are often entirely unique from one another. While there are tips that you can generally follow in order to see a better result, it’s difficult to find a piece of advice that perfectly describes your situation and gives you a clear direction out of the woods. So, you might find it more beneficial to simply focus on one aspect of your financial life and see if that…

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How to make your b2b insurance start-up more successful

Establishing any sort of business in the last couple of years is a feat in itself, and achieving it in the insurance industry might be considered doubly so. It’s an important service, especially for those who target businesses, as many owners might not know how much coverage they are likely to need or maybe even that they need any coverage at all. Now you’ve got a foothold. The next question is what you do next to keep up the momentum and make the most of your successful start. That one…

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