Follow Intelligent Insurer’s rolling coverage of the escalating US-Iran conflict, with a focus on developments that matter to the global insurance and reinsurance industry.
Fitch Ratings has said its baseline expectation of how long the current Middle East conflict will last is less than one month, which “should limit the implications for Fitch-rated issuers in sectors affected by the aviation disruption”. Read the article here.
Marsh is waiting to hear back from the US government over its proposals as to how President Trump’s order that the US insures vessels going through the war-torn Strait of Hormuz might actually work in practice. Read the full story.
A US government reinsurance backstop, along the lines of the one established after 9/11, would be a better way to protect Gulf shipping, rather than directly insuring vessels. Read the full story.
Lancashire feels “perfectly comfortable” with its exposures in the Middle East conflict zones thanks to a direct line of sight to its full range of covers and may be watching the theatre for underwriting opportunities that develop from the conflict, top officials have indicated. Read the full story.
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