Live Insurance News

Insurance news from India ensures Iran crude coverage

February 14, 2013February 13, 2013 H. Cutner

Indian refiners that are running Iranian oil will be able to cover themselves through the government. The Indian government made insurance news on Wednesday that refiners will be able to find coverage for plants that are running crude that was sourced in Iran, helping to assuage some of the concerns that imports made from that Middle Eastern country would need to cease. The worry has been based on the sanctions that have been applied to coverage of Iran’s crude. Hindustan Petroleum Corp, a refiner run by the state in India,…

International insurance company formed by Iran for oil tanker coverage

December 28, 2012April 30, 2013

The country has launched the new coverage as its latest step to overcome Western sanctions. The European Union and the United States had placed sanctions against Iranian oil, including bans on coverage of oil tankers carrying crude from the country, but the nation is now expanding the protection that it is offering for these ships through the launch of its own international insurance company. This insurer will be providing coverage for the tankers that transport Iran crude worldwide. Rostam Qassemi, the Iranian Oil Minister, explained that the creation of its…

Iran shows oil exports to Asia may return to levels before EU ban

August 30, 2012August 30, 2012 H. Cutner

Crude imports to several countries will likely reach the quantities from before July 1. At the start of July, the European Union made insurance news when it banned coverage on all tankers shipping oil from Iran, but over the last few months, that Middle Eastern country has recovered its shipments to its top Asian buyers, successfully enough that it may return to the levels that it saw before the sanctions went into place. In July, oil exports from Iran plummeted when other countries couldn’t find the coverage they needed. This…