The coverage uses Clearwater Dynamics technology to provide 24/7 operations room monitoring and reporting and is backed by Lloyd's and A-rated London market insurers.
Amid global macroeconomic challenges, Marsh reports that the APAC captive premiums it manages surged by 58% between 2020 and 2022, significantly outpacing other global regions.
Prolonged El Niño weather cycle likely to lead to decreased insurance losses in Australia, but weather cycle brings a host of economic concerns including fire damage, fluctuating crop yields, water shortages,...
Despite economic turbulence and sector-wide risks, S&P Global Ratings has improved the sector's outlook, from negative, attributing the upgrade to underwriting performance and strategic pricing.
Major Chinese insurers are unlikely to face a crisis due to the country's falling property market, however the extent of exposure for smaller and privately backed players is unclear.
Insurance firms have raised 'war risk premiums' for vessels in Russia's Black Sea ports amid escalating tensions and reported attacks, adding to the country's overall oil export costs.
