Energy
EU foreign policy head confirms exemptions to Iran oil sanctions
Further details have emerged concerning the European Union's decision on Friday to allow some insurance for Iranian oil shipments heading for destinations outside the EU.
EU may allow limited coverage for Iranian oil shipments
Intense lobbying by South Korea and Japan has led the EU to relax its ban on insuring Iranian oil shipments, according to Reuters.
JLT warns against buying cheap nuclear build insurance
Speaking at the European Nuclear Forum in Brussels today, JLT's Global Nuclear Practice Group warned consumers of the risk of buying nuclear new build insurance cheaply and ultimately paying for insurance twice.
Iranian oil: sovereign cover requested by Indian shipowners
One of India's largest shipping companies, SCI, has requested sovereign guarantee from the government to domestic shipliners for transport of crude oil from Iran.
In Series: Emerging Markets - MENA means business
Despite growing competition in the Middle East and North Africa from local providers, there are still opportunities for foreign insurers in the market
Narec joins with Spanish Idermar on offshore energy project
UK renewable energy finance and insurance company Narec Capital has been appointed by Idermar, developer of Europe's leading offshore wind meteorology platform technology, to advise on finance, insurance and UK market entry.
India considers guarantees for Iranian oil
India's shipping secretary K Mohandas said on Tuesday that the country is considering sovereign guarantees for shipping and buying Iranian oil on a delivered basis, when EU sanctions on Iran come in to effect, according to Reuters India.
Japan questions EU over impact of Iran sanctions
Japan's government is seeking clarification from the European Union about the implications of its sanctions against Iran for non-EU states, amid fears Japanese ship owners could see cover for voyages to Iran slashed.
Top 10 news stories
Find out what the market has been reading about this week with the top 10 news stories from www.insuranceinsight.eu
Tawa backs new London broker
Insurance service provider and run-off investor Tawa is backing a new London-based commercial lines broker that launched today.
Indian shipping firms may look to China for insurance
Indian shipping companies may turn to China in their struggle to find replacement insurance coverage when EU sanctions on Iranian oil come into force.
Liberty Europe targets energy and construction in Spain with two new hires
Liberty International Underwriters Europe has made two senior appointments in its Madrid office, as the firm looks to grow its energy underwriting and construction capabilities in Spain and Portugal.
Middle East guest blog: Consumer protection my foot
The insurance broking fraternity in the United Arab Emirates met on 9 February to discuss how, through concerted effort, they can enter into a meaningful dialogue with the UAE Insurance Authority to reverse the recently released, notorious Directive 2.
Growth creates paradigm shift for energy risk
The rapid evolution of the global hydrocarbon industry is creating a seismic change in the risk landscape for energy businesses, according to a report released by Marsh at its National Oil Companies conference in Dubai.
Marsh warns oil firms of risk changes
Broker Marsh has warned that the rapid evolution of the global hydrocarbon industry is creating a “seismic change” in the risk landscape for energy businesses.
Charles Taylor appoints Dubai-based energy adjuster
Charles Taylor adjusting has recruited Robert Sands as energy adjuster in Dubai.
Nat-cat losses cause mining capacity withdrawal
The capacity available to mining property damage & business interruption insurance programmes has reduced by 30% in the last year, according to a report by broker Willis Group.
Energy business warned to learn from past losses
Energy businesses need to learn from past major loss events in order to reduce the risk of significant property damage losses, broker Marsh has warned.
JLT warns gas pipeline increases risks in Azerbaijan
The development of Trans-Anatolian gas pipeline in Azerbaijan could lead to an escalation of tension according to a report by JLT.
Oil companies need to embrace risk management
Global oil companies have inconsistent and insufficient risk strategies arising from their approach to governance and controls, according to a report released at Marsh’s oil company's conference in Dubai.
Global tanker fleet hit by EU oil sanctions
New European Union sanctions on Iranian oil will impact around 95% of the global tanker fleet, including those operated by a major Bermuda shipping company, because they are insured under rules governed by European law.
Gcube increases offshore capacity to $100m
Renewables specialist Gcube has increased its underwriting capacity by $50m (€37.9m) for offshore renewable energy projects.
A sustainable future?
Solar powered cities and hydrogen run transport systems might be close to reality than people realise. Christian Müller explains why insurers have an integral role to play in this world and must be at the forefront of embracing innovation.
Lockton Dubai gains Lloyd’s broker status
Lockton Dubai has received Lloyd’s broker registration.