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Underwriters are now charging between 0.75% and 1% of the value of the ship to sail through the region.
Examine the prominent obstacles and emerging advancements anticipated to influence workers' compensation and the wider P&C market in the year ahead.
Coastal inundation and extreme heat and wind events could directly impact key routes as well as operations at ports and terminals.
Faster speeds and increased networks mean more access points for malicious actors.
With every risk, there's a chance to eliminate or moderate potential damage or ride it out. Which do we choose?
During 2020, 1 in 3 losses occurred in South China, Indochina, Indonesia and the Philippines, but overall incidents declined.
These include risks posed by pandemics, cyberattacks, regulatory changes, and climate change and ESG matters.
Ocean marine cargo insurance is sailing in a hard market, but conditions show long-term improvement despite some high-profile loss events.
Issues around the Ever Given's stranding are complex and potentially open up several avenues for insureds to collect under the cargo policy.
Insurance should brace for a flood of claims from everyone affected by the trading disruption, even as the ship blocking the waterway is now free.
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