Pol risk, credit & surety

The 222-page complaint describes fraud committed against various carriers, including Zurich, Tokio Marine and Everest in surety, D&O and homeowners’ insurance programs.

The broker said Ukraine will fall into a deep recession this year following Russia’s invasion.

The carrier has also promoted Srdjan Todorovic to lead its global political violence operation.

The broker’s political risk report has highlighted the competing interests between countries for ownership of untapped natural resources and space exploration.

Cyber policies already include war exclusions, but market participants now expect more explicit language and tighter terms and conditions.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The ratings agency has also terminated the provision and redistribution of all information products and services to clients in Russia with immediate effect.

The company will withdraw all of its outstanding ratings on Russian firms before 15 April, having already announced the suspension of its Russian operations.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Despite the limited exposure overall, Hiscox said that it has some exposure on its terror and political violence book.

Those writing large energy or infrastructure risks, such as London market insurers or international reinsurers, will be most affected by the war, the ratings agency warned.

Despite an increased risk environment, capacity has increased for political risks, trade risks political, trade risks commercial and non-trade insurance, the broker said.