Hiscox to provide shipping insurance for Ukraine grain corridor

August 5, 2022August 4, 2022 Logan B.

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…

Swiss Re reports on commercial insurance market

October 18, 2012 Nordstrom

Commercial insurance market facing new challenges as economies evolve Swiss Re, one of the world’s leading reinsurance groups, has released a new report concerning the state of the commercial insurance market and the challenges it is beginning to face. The report highlights the changes an evolving global economy are having on the commercial insurance market, suggesting that this evolution is producing new risks that could harm the market if proper precautions are not taken. Despite these risks, however, the commercial insurance market is showing aggressive growth, especially in under-developed countries.…

Commercial insurance rates may be on the rise due to 2010 losses

March 29, 2011March 29, 2011 H. Cutner

Premiums for commercial lines of insurance are still low, mainly due to an increased amount of insurers offering coverage, and the low amount of consumers looking for providers, and not making claims. Most small and midsized business rates remained the same, while some large companies saw minor decreases. The last two years have been relatively calm for most states, as far as natural disasters go; compared to losses that have occurred in previous years. This has created an increase in capital that insurance companies have had to work with when…