Shipping firms face stricter underwriting terms and rising costs as marine insurers react to heightened conflict risk in the Gulf and surrounding waters.
Amid growing interest from private equity and institutional investors, IFSCA is proposing a framework to allow SPVs to issue and manage catastrophe bonds.
Club is expecting a rise in premiums and improved COR for the current financial year, but said the "prudent" rate rise reflects ongoing claims volatility and geopolitical risk.
