In a commercial hull and machinery insurance policy containing cross-indemnities, a promise to insure by one party trumps the indemnity by the other unless the contract clearly states otherwise, B.C.’s Supreme Court has ruled in a case involving two separate…
The fallout of the blockage of one of the most used shipping lanes in the world could affect global reinsurers differently than insurers, two separate analyst reports suggest. One, Fitch Ratings, says the blockage will be a large loss event…