Fitch has identified correlated aggregation risk as the key near-term concern for specialty insurers, even as the agency maintains a broadly contained ratings outlook.
The trade credit insurer is rolling out liquidity aid, faster claims handling, and counterparty diversification support for firms exposed to markets around the Strait of Hormuz and Israel.
Government officials have reportedly begun talks with US officials to secure political risk insurance and financial guarantees for vessels carrying oil and gas from the Middle East.
Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance, and Sompo Japan are considering broadening their high-risk zones amid the escalating Middle East conflict.
While broadly aligning with global worries around supply chain disruptions leading to a Black Swan event, five APAC countries are more concerned over global internet outage.
