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.
Chubb, which will lead in President Donald Trump’s plan to insure vessels in the Strait of Hormuz, will manage the facility and set pricing and terms, the P&C insurer has said of the maritime insurance partnership with the US International Development Finance Corporation (DFC). Read the story.
Lloyd’s CEO Patrick Tiernan (pictured) has not ruled out Lloyd’s playing a part in a reinsurance backstop for vessels in the Strait of Hormuz, noting the market’s expertise and experience in developing similar solutions in the past. Though he declined to give any detail. Read the full story.
Cyber threat actors and hacktivist groups are “actively targeting” Western commercial, financial, energy, and critical infrastructure organisations as the Middle East conflict escalates, according to Kennedys. Read the article.
Middle East tensions are blurring risk lines and fuelling underwriting uncertainty in terrorism and political violence markets, as claims grow harder to define and price, analysts have said. Read the article.
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