The cases have drawn attention to K-SURE's buyer-screening processes, with lawmakers urging a reassessment of underwriting standards and coverage approval practices.
Growing concerns over compliant fuels linked to engine damage are prompting calls for enhanced testing and closer scrutiny of bunker quality throughout the supply chain.
The move takes him back to underwriting after almost four years as a broker, bringing with him experience that spans political violence, terrorism, and casualty risks.
Grid constraints, curtailment and congestion were cited as a growing operational concern by 85% of respondents, 23 percentage points ahead of any other risk.
The insurer said any settlement would not be expected to have a material impact on its financial position or FY2027 results, based on anticipated recoveries.
The broker has set up a Digital Asset division in Hong Kong, led by Dan Dibden and Onno Sterk, after taking on Fraction Brokers' digital asset clients.
