International
AM Best Raises Country Risk Level for Russia
The insurance rating firm AM Best said it has moved its country risk tier for Russia to a CRT-5 from a CRT-4 to reflect the "significantly heightened geopolitical, economic and financial system risk" ...
Marsh to Exit Russia; Aon Suspends Operations
Marsh McLennan, the world's largest insurance broker, said on Thursday it would exit all of its businesses in Russia, while its rival Aon suspended operations in the country. "We intend to transfer ...
Russia’s Invasion of Ukraine to Spur More Claims Inflation: Moody’s
Although insurance penetration in Ukraine and Russia is low, global insurers will face secondary impacts from greater financial market volatility and higher energy prices, Moody's Investors Services ...
How Sanctions Against Russia Are Hitting Global Aviation Industry
Russia's size and close integration into the global aviation industry since the end of the Cold War means sanctions related to its invasion of Ukraine are having outsized consequences relative to ...
Insurers Urged to Stress Test Cyber Portfolios for Russian Attack Potential
Cyber risk and analytics firm CyberCube said it has seen cyber attacks on Ukrainian government services, infrastructure and other industries and it urges the insurance industry to re-evaluate ...
Who Pays? UN Climate Report Reignites Global Fight for Compensation
With this week's U.N. climate science report laying bare the staggering economic costs and losses already faced from climate change, an inevitable question arises: Who should pay? Within U.N. climate ...
Russian Cyber Attacks May Test Insurer War Exclusion Policy Language
The Russian invasion of Ukraine has increased the risk of cyber attacks and potential claim costs for property/casualty insurers globally that offer cyber coverage, the majority of which is ...
Analysis: Russian Ransomware Attacks on Ukraine Muted by Leaks, Insurance Exclusion
Warnings that pro-Russian ransomware gangs would snarl networks in Ukraine and its allies have so far failed to materialize amid disarray among the criminal underworld often behind such attacks and ...