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There is a high likelihood the property claim will be subrogated. -
Liberty Specialty Markets is recruiting for its hull team following a number of staff exits.
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Insurers claim that damage from the “detonation of an explosive” is also excluded.
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The MSC Aries was seized on Saturday by the Islamic Revolutionary Guard Corps.
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Ulrich Kadow will become global head of product management and underwriting transformation.
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The facility will offer up to $50mn of coverage per insured vessel.
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Insurance Insider revealed this deal in January.
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Alex Mott and Henry Brown worked in the hull and liability team at Price Forbes.
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Underwriters said there was some cause for concern around reinsurance coverage.
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The expansive carrier has hired heads of marine for France and Spain.
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The owner and manager of the cargo ship Dali have filed suit to cap liability at $43.7mn.
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A claim on that scale would test the market in ways it has never seen.
