Marine insurers are nonetheless canceling some war-risk policies, with rates in affected areas potentially rising as much as 50%. Mahesh Mistry, senior director at AM Best, noted that Qatar – one of the world’s largest LNG exporters – has shut down production facilities, and that large property risks such as refineries are reinsured internationally, with terms largely driven by foreign-leading reinsurers.
Major event response activated as Middle East crisis rattles insurers
By Awais
