Live Insurance News

Insurance news from India shows ongoing consideration of Iranian oil coverage

August 14, 2013August 12, 2013 Julie Campbell

Insurers from Iran have offered to provide cover for tankers transporting that country’s crude. The latest in the insurance news saga regarding Iranian oil tanker coverage, particularly when it is headed to India, is that Iran is offering to provide the coverage for the ships so that Indian companies will be able to accept it. However, the Indian companies still hold some reluctance as they do not want to expose themselves to sanctions. India has been considering adding an additional state guarantee of $327 million to this insurance news, to…

Oil insurance limitations reduced Japan’s Iranian crude imports in April

June 4, 2013June 1, 2013 G. Turner

Compared to a year ago, the shipments have plummeted to a tiny sliver of what they used to be. As oil insurance sanctions from the European Union and the United States against Iranian crude transportation continue to press on, the size of the imports to Japan have shrunken enormously. When compared to what they had been in April 2012, they were 96 percent smaller in April 2013. Year over year, there has been a reduction of 96 percent in the crude imports to Japan from Iran as a direct result…

Insurance news from Japan includes a rise in its Iran oil shipping coverage

February 25, 2013April 30, 2013

The increase in the maximum coverage is expected to be by 4 percent over 2013 through 2014. The latest insurance news out of Japan has been an expectation that the country will be increasing its maximum coverage for Iranian crude oil tankers by 4 percent, year over year. This will bring the maximum available coverage for the transport of the crude to Yen 635.9 billion. That insurance news figure is the equivalent of $7.8 billion under the most recent exchange rates that have been issued for use by the budget…