Container ships account for roughly 100 of the 750 ships backed up around the Strait of Hormuz following U.S. and Israeli attacks on Iran, Jeremy Nixon, CEO of container carrier Ocean Network Express (ONE), said on Monday. “About 10% of …
As insurers spread risk across more carriers, the structure behind a single claim has become more complex. Capital is tighter, catastrophe losses are more frequent and specialized risks continue to grow across global insurance and reinsurance markets. Those forces have …
A U.S. appeals court on Monday returned the lawsuits that led to most of President Donald Trump’s tariffs being struck down to the U.S. Court of International Trade, which could determine the process for refunding more than $130 billion to …
A U.S. economy that has weathered a year of trade, immigration and other shocks now faces a new test likely to ratchet up uncertainty after President Donald Trump’s decision to launch open-ended attacks against Iran with the stated goal of …
Amazon.com Inc.’s cloud unit warned of prolonged disruptions to its services after revealing that drone strikes damaged three of its data centers in the Middle East in recent days. Amazon Web Services Inc. said for the first time that drones …
Insurance companies are canceling war risk coverage for vessels in the Middle East Gulf as the widening Iran conflict disrupts shipping, leaving tankers damaged or stranded and at least two people dead. Shipping through the Strait of Hormuz between Iran …
As the U.S.-Israeli air war against Iran widened on Monday with no end in sight, focus shifted to the impact on airlines. Operations have been disrupted for a third day and revenue losses are not covered by insurers, analysts and …
Malaysia’s central bank has approved the start of talks for MNRB Holdings Bhd. to sell its Islamic insurance unit Takaful Ikhlas, according to people with knowledge of the matter. Kuala Lumpur-listed MNRB can open negotiations with Bank Kerjasama Rakyat Malaysia …
A Delaware judge has ruled that insurers do not have a duty to defend Meta Platforms in the thousands of lawsuits that allege that its Facebook and Instagram platforms harm children. Superior Court Judge Sheldon K. Rennie ruled that Meta’s …
Importers seeking their share of more than $130 billion in tariff refunds are flocking to a little-known U.S. trade court, which must now figure out how to deal with what is expected to be an explosion of cases. Multinationals such …