Representatives from PCRIC, African Risk Capacity, CCRIF SPC, and SEADRIF met in Italy to begin work on a shared risk finance platform for member states.
Insurers have set up 24/7 hotlines and the ICA has set up a task force and is working with the government to track claims and support Australians affected by the conflict.
Shipping firms face stricter underwriting terms and rising costs as marine insurers react to heightened conflict risk in the Gulf and surrounding waters.
Following a series of failed bids, Zurich has now agreed terms to create a specialty insurance business with about US$15bn in annual gross written premiums.
