New marine insurance facility established for Ukraine grain exports

Marine Insurance - Ukraine Grain Exports

The facility was created along with Ukrainian authorities to use the country’s sea corridor. Ukrainian authorities and marine insurance broker Miller have collaborated to create a new marine coverage facility for Ukraine’s grain experts using the country’s sea corridor. In July, Russia backed out of a UN-supported deal to allow Ukraine’s grain exports to sail from three ports. Since Russia’s withdrawal from the deal, Kyiv has created what it refers to as a new temporary humanitarian corridor for the purpose of sidestepping the stoppage Russia has put in place. Recently,…

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Global insurance industry will feel “substantial impact” from Russian invasion of Ukraine

Global insurance industry - Globe - fracture

AM Best has released a forecast regarding the effect the invasion is expected to have worldwide. The Russian invasion of Ukraine is expected to have a “substantial impact” on the global insurance industry, according to a forecast by AM Best. The invasion is expected to add to the already existing inflationary pressures economies worldwide are facing. The AM Best rating agency recently announced that the global central banks’ efforts, joined by those of the United States Federal Reserve, for controlling inflation will face additional challenges due to Russia’s invasion of…

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