Shipping firms face stricter underwriting terms and rising costs as marine insurers react to heightened conflict risk in the Gulf and surrounding waters.
Following a series of failed bids, Zurich has now agreed terms to create a specialty insurance business with about US$15bn in annual gross written premiums.
The budget outlines support for new insurance solvency rules and greater disclosure standards, but focus on growth sectors—such as low-altitude aviation and autonomous vehicles—will bring new opportunities...
