Chubb has entered into a definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne-based managing general agent that specialises in general aviation insurance for the Australia market.
Wotton + Kearney has appointed Mr James Cooper as special counsel of its newly launched aviation practice. In his new role, he will expand the Wotton + Kearney's existing marine and transport practice, which spans shipping, road, rail, logistics, mining and trading commodities. He joins from Clyde & Co.
A major change in the insurance market in Lebanon is that war risks are no longer covered by new insurance policies, since the outbreak on 7 October of war between Hamas and Israel, according to Mr Assaad Mirza, the president of the Association of Insurance Companies in Lebanon (ACAL).
The owner of a $70m private jet, which allegedly plummeted in value after being badly damaged in a hailstorm, has lost its legal appeal to recover any loss in value from insurers.
Chubb announced yesterday that it has set up an aviation hub in Singapore to develop further its general aviation and aerospace insurance business.
Emirates airline has committed $200m to fund research and development projects focused on reducing the impact of fossil fuels in commercial aviation.
By 2050 instances of clear air turbulence (CAT) are likely to double over the north Indian airspace due to climate change according to a study by the UK's University of Reading.
Dubai-headquartered aircraft leasing firm Dubai Aerospace Enterprise (DAE) has filed a London lawsuit against 11 insurers, including Lloyd's of London, AIG, Chubb and Swiss Re, two months after it wrote off almost $600m for 19 aircraft stuck in Russia, reported Reuters.
WTW and the University of Cambridge's Centre for Risk Studies have launched an Airport Risk Index. The index allows the world's airports will be able to introduce new risk profiling methods to future proof their resilience planning.
For the various rounds of treaty renewals in 2023, Hannover Re anticipates rising prices as well as some restructuring of reinsurance programmes in both aviation and marine business, the global reinsurance giant says in comments on how specialty lines will fare in the 1 January renewals.