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Lloyd’s Market Engaging With US Government Over Gulf Maritime Plan, Officials Say
The Lloyd’s of London market is engaging with the U.S. government’s International Development Finance Corporation over a plan to provide political risk insurance and guarantees for maritime trade in the Gulf, Lloyd’s market officials said on Thursday. “Lloyd’s is engaging …
POSTED MARCH 05, 2026 1:34 PM |
Perishables to Plane Parts Stranded as Middle East Conflict Hits Air Cargo
Shipments ranging from fresh produce to airplane parts are in limbo as an escalating Middle East conflict reduces the world’s air cargo capacity by more than one-fifth and pushes up freight rates, with executives bracing for backlogs of goods. The …
POSTED MARCH 05, 2026 10:51 AM |
Oil Tanker Suffers Explosion as Risks Spread Wider Into Gulf
An oil tanker suffered an explosion off the coast of Iraq which damaged a tank that is losing water, signaling wider risks to shipping in the Persian Gulf beyond the Strait of Hormuz. The Sonangol Namibe was approached by a …
POSTED MARCH 05, 2026 8:51 AM |
London Marine Insurers Still Offering Middle East Cover as War Risk Rates Rise: Broker
Marine insurers in the London market continue to offer cover in the Middle East, despite rising war risk premiums driven by escalating conflict in the Gulf, insurance broker Gallagher’s Marine Divisional Director Angus Blayney said on Wednesday. Rates have increased …
POSTED MARCH 05, 2026 8:24 AM |
Travelers Stranded by War Learn Insurance Won’t Cover Flight Cancellations
As the war in Iran grounds flights worldwide, hundreds of thousands of travelers scrambling to get home are discovering a harsh reality: their travel insurance won’t cover replacement flights or extended hotel stays. Insurers, including industry giants Allianz SE and …
POSTED MARCH 05, 2026 8:00 AM |
Marsh, Aon in Talks With US on Insuring Tankers in Hormuz
Marsh and Aon Plc, two of the world’s largest insurance brokers, are in talks with the US government on a plan to help insure tankers navigating the Strait of Hormuz energy chokepoint. President Donald Trump said on Tuesday the US …
POSTED MARCH 05, 2026 7:42 AM |
AmFam Reports Underwriting Profit, Top-Line Decline for 2025
American Family Insurance reported $2 billion more underwriting profit in 2025, compared with 2024—pointing to “deliberate customer-driven strategic actions and a lower level of catastrophe losses to explain the favorable result. The actions meant declines on the top line, the …
POSTED MARCH 05, 2026 7:37 AM |
Bayer’s $7.25B Roundup Settlement Gets Initial OK From Judge
A state court judge in Missouri gave an initial green light on Wednesday to a proposed $7.25 billion settlement to resolve thousands of lawsuits claiming Bayer’s Roundup weedkiller causes cancer. Judge Timothy Boyer in St. Louis granted preliminary approval to …
POSTED MARCH 05, 2026 6:15 AM |
How State Farm, USAA Boost Customer Retention: Historic Dividends
While competition in personal auto insurance is rising to levels high enough to dent customer retention at GEICO, a giant mutual insurer and a reciprocal exchange have both tapped into a customer-friendly option unavailable to large stock insurers. State Farm …
POSTED MARCH 05, 2026 6:09 AM |
Viewpoint: Business Interruption Insurance Must Catch Up With Climate Volatility
In the wake of recent weather events around the world, whether it’s the bomb cyclone that hit the US from the Gulf Coast to New England, or the combination of Storms Ingrid and Chandra battering the south coast of the …
POSTED MARCH 05, 2026 6:04 AM |
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