Pol risk, credit & surety
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The carrier has also promoted Srdjan Todorovic to lead its global political violence operation.
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The broker’s political risk report has highlighted the competing interests between countries for ownership of untapped natural resources and space exploration.
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Cyber policies already include war exclusions, but market participants now expect more explicit language and tighter terms and conditions.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The ratings agency has also terminated the provision and redistribution of all information products and services to clients in Russia with immediate effect.
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The company will withdraw all of its outstanding ratings on Russian firms before 15 April, having already announced the suspension of its Russian operations.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Despite the limited exposure overall, Hiscox said that it has some exposure on its terror and political violence book.
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Those writing large energy or infrastructure risks, such as London market insurers or international reinsurers, will be most affected by the war, the ratings agency warned.
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Despite an increased risk environment, capacity has increased for political risks, trade risks political, trade risks commercial and non-trade insurance, the broker said.
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Negotiations were dragged out by decisions being referred for sign-off at senior levels.
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The elevations of Schick and Ward follow last November’s confirmation of Kliethermes as the insurer’s new effective this January after the retirement of Jonathan Michael at end of this year.