The AI-driven automation reduces quote-to-bind timelines to under 10 minutes and has debuted with QBE’s British Marine Yacht Protection & Indemnity (P&I) product.
India's long-delayed plans for a domestic P&I club have gained fresh urgency as the Strait of Hormuz blockade disrupts the country's energy cargo flows.
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.
