An issue with insurance sanctions has oil tankers stuck at the Turkish straits

Insurance sanctions - Water - Turkish Flag

Negotiations have yet to come up with a solution to move ships carrying 23 million barrels of crude. The Turkish straits continue to have a backlog of oil tankers as of the writing of this article, and negotiations haven’t shown any indication of offering an insurance sanctions glitch solution. The tankers contain over 23 million barrels of oil from Kazakhstan and have been stopped from moving. The twenty six tankers were unable to pass the Bosphorus and Dardanelles straits last week due to issues relating to the insurance sanctions against…

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Insurance industry could help improve company security

Cyber Insurance policies commissioners industry

Insurance industry may be able to improve the cyber security of companies The insurance industry may have a major role to play to help companies in the U.S. improve their cyber security, according to the U.S. Treasury Department. Federal lawmakers in Congress are struggling to pass new legislation that concerns cyber security. The legislation would force companies to improve their defense against digital threats during a time when cyber attacks are becoming much more frequent. Sarah Bloom Raskin, deputy secretary of the Treasury Department, believes that insurers can be a…

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