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Red Sea Insurance Premium Spikes as Houthi Risks Return

Insurance Journal

The cost of insuring commercial ships that sail past Yemen’s Houthi militants surged after the rebels sank two ships and killed sailors this week, underscoring how the attacks have revived risk in the crucial waterway. Shipowners now have to pay …

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Viewpoint: Green Technologies Bring New Property Risks – and Opportunities

Insurance Journal

From roof-mounted solar panels and automated warehouses to electric vehicle depots, green technologies are transforming commercial property risk profiles. While these innovations improve energy efficiency and sustainability, they also introduce new challenges: including fire hazards from solar photovoltaic (PV) systems, …

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Risk Strategies Acquires Missouri’s Schroeder Insurance

Insurance Journal

Risk Strategies announced it has acquired Schroeder Insurance, a Missouri-based firm with a specialty focus in the commercial lines and private client sectors. Terms of the deal were not disclosed. Led by brothers Paul and Ted Schroeder, who each have …

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MarketScout: Q2 Composite Personal Lines Rates Up 4.6%; Commercial Up 2.8%

Insurance Journal

Dallas-based MarketScout, a division of Novatae Risk Group, said … According to the MarketScout Market Barometer, the composite rate for U.S. personal lines increased in the second quarter to 4.6%. personal lines rose an average 4.9% during the firth quarter.

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Rising Civil Unrest, Political Violence Remain Top 10 Risk for Global Businesses: Allianz

Insurance Journal

Soaring levels of civil unrest and political violence are a key concern for businesses of all sizes as well as their insurers, according to report published by Allianz Commercial. The impact of civil unrest or strikes, riots and civil commotion …

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People Moves: Aon Appoints Key Leaders in EMEA Commercial Risk Team; AXA XL Promotes Wilkinson to Head of International Casualty, Retail, UK & Lloyd’s

Insurance Journal

Aon Appoints Key Leaders in EMEA Commercial Risk Team Insurance broker Aon plc announced several key leadership appointments within … This edition of International People Moves details appointments at Aon and AXA XL. A summary of these new hires follows here.

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When Vandals Trigger the Sprinklers: The Battle Over Resulting Losses

Property Insurance Coverage Law

Instead, it was a lawsuit that put the scope of all-risk commercial property insurance under scrutiny. When vandals triggered a sprinkler system in a vacant building, flooding it with over one million gallons of water, the result was not just property damage. The case ofEpperson v.