2024 has again been a busy year for the marine war market with Houthi activity in the Red Sea causing widespread disruption to global shipping along with a number of constructive total losses for insurers.

Bruce Carman, CUO at Hive and aviation war expert, estimates the Russia-Ukraine lessor claims could result in a $5-6bn loss for the aviation market, a striking figure that underscores the magnitude of the ongoing legal battle across multiple jurisdictions over stranded Western aircraft in Russia.

Chubb has formed a new terrorism and political violence team within its continental Europe, Middle East and North Africa (CEMENA) region, led by Becky Jarrold.

Aon and the European Bank for Reconstruction and Development have structured a new facility designed to support the revitalisation of the war risk insurance market in Ukraine.

Pool Re is set to launch a consultation on the inclusion of terrorism cover in property insurance policies to help close the protection gap for SMEs.

New data on fast-evolving risks is cascading into the insurance market. New thinking about risk may be a little slower, writes William Pitt.

Arch Insurance International has appointed Jelle Ouwehand as head of terrorism, political violence and war.

UK terrorism mutual Pool Re has appointed Andrew Stark to the newly created role of head of underwriting, effective immediately.

Middle East escalation clauses remain a key focus of renewal discussions in the war, political violence and terrorism market, with pricing in the sector expected to soften slightly at 1 January.

Insurers are shortening coverage periods from the traditional one year to three to six months in parts of the Middle East amid concerns of further expansion of tensions in the region.

Marine war insurers are set to push for increases to Black Sea war risk premiums after the Russian military launched a spate of attacks on commercial vessels in recent weeks.

(Re)insurers have been sounding the alarm about escalating losses from strikes, riots and civil commotion (SRCC), and the US presidential election could provide another source of tension.

Concerns over a wider regional escalation in the Middle East have been further exacerbated by Iran’s missile strike on Israel on Tuesday evening.

Reinsurers must remove all forms of Middle East escalation clauses to provide certainty of cover and allow the primary market to confidently write business, according to Howden Re’s global head of terrorism and political violence (PVT), Sandy Warne.

Reinsurance brokers have been pushing to remove or clarify the language of Middle East conflict escalation clauses that certain reinsurers inserted into specialty treaties at 1 January 2024,