Shedding light on uninsured loss (Moody’s)
The protection gap — the difference between total economic losses and the share that insurance actually covers — is a widening, systemic risk. Here is why it matters, who absorbs the cost, and how catastrophe models can help bring it into view. Source: Moody’s
Saudi Arabia: Shura Council urges insurance regulator to address elderly coverage and market gaps
Saudi Arabia’s 151-member Shura Council or Consultative Assembly has called on the Insurance Authority to study the challenges faced by the elderly in obtaining adequate insurance coverage. The call was made during a recent regular session of the Council. Source: Middle East Insurance Review
ME conflict: Insurers count cost of damage and trapping risks
The conflict in the Middle East and the blocking of the Strait of Hormuz have resulted in significant damage to vessels, cargo and port infrastructure in the region, says Allianz Commercial. Source: Middle East Insurance Review
International reports observe the start of a drop in global marine insurance prices
Global marine insurance markets have begun sending initial signals of a decline in the cost of war risk coverage after navigation gradually resumed through the Strait of Hormuz, following the recent de-escalation agreement between the US and Iran. However, companies are still taking a cautious approach to pricing while waiting
Piracy and war risks increase the burden on global shipping.
International shipping lanes have witnessed a state of anticipation with the continuation of security tensions in the Red Sea and the Horn of Africa, coinciding with the recurrence of piracy incidents off the Somali coast during recent months, which raises questions about the repercussions of these developments on marine insurance
ME Conflict: New marine war risk insurance launched at Lloyd’s for Strait of Hormuz shipping
A new Lloyd’s market consortium designed to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz was launched last week. Source: Middle East Insurance Review
Global insurance protection gap widens as growth shifts to emerging markets: Moody’s
Moody’s has suggested the global insurance protection gap is widening as economic growth shifts toward underinsured emerging markets, where insurance penetration remains low, and catastrophe losses are increasingly going uninsured. Source: Reinsurance News
Identify the key challenges facing climate change risk insurance
Climate change is one of the most prominent global challenges directly impacting national economies and financial sectors, most notably the insurance industry. Source: اليوم السابع
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has implemented the fourth phase of its action plan to make vehicle depreciation claim processes
Guy Carpenter, the reinsurance brokerage arm of Marsh, revealed that geopolitical tensions are increasingly affecting reinsurance markets, especially in specialized lines. This has led companies
The protection gap — the difference between total economic losses and the share that insurance actually covers — is a widening, systemic risk. Here is
Saudi Arabia’s 151-member Shura Council or Consultative Assembly has called on the Insurance Authority to study the challenges faced by the elderly in obtaining adequate
The conflict in the Middle East and the blocking of the Strait of Hormuz have resulted in significant damage to vessels, cargo and port infrastructure
Global marine insurance markets have begun sending initial signals of a decline in the cost of war risk coverage after navigation gradually resumed through the