Yemeni-based Houthi forces have attacked more than two dozen vessels transiting the Red Sea since the October 7, 2023, start of the current Israel-Hamas conflict, leading to a surge in marine war insurance premiums. Houthi elements have attacked commercial shipping with the stated goal of destroying America and Israel, although…
Articles Posted in Transportation
Plight of Ever Given Reminds Policyholders to Reevaluate Insurance Programs for Loss and Delay in Transit of Goods
A few weeks have passed since the Suez Canal was cleared of the now infamous Ever Given, the quarter-mile-long, 220,000-ton cargo ship that ran aground, clogging one of the world’s most crucial shipping arteries for over six days. For almost a week, the world was captivated by an 869-foot-wide portion…
Artificial Intelligence: A Grayish Area for Insurance Coverage
Artificial Intelligence (AI) is a hot topic in industries from manufacturing to the medical profession. Developments in the last ten years have delivered AI technology, once a fiction reserved for the movies, to private corporations and even to everyday homes. Examples include: 2004 Defense Advanced Research Projects Agency (DARPA) sponsors…
Robot Take the Wheel: Insurance Implications of Autonomous Vehicles
The era of the self-driving car has arrived, with the shiny promise of fewer auto collisions—and the inevitable potholes of a transformative technology. Despite the significant concerns raised by a recent accident involving a driver’s reliance on a partially autonomous automatic braking and steering system on the Tesla Model S—one…