insurance


Thursday, May 1, 2025
denmark-navy-RDN_F357_Thetis
Defense

Denmark Plans $1 Billion War Insurance for Merchant Shipping

Denmark plans to set aside almost $1 billion to insure its merchant fleet in the event of a war or major crisis. The government proposed the new legislation

May 1, 2025
Total Views: 1133

Wednesday, April 2, 2025
Tanker EVENTIN adrift in the Baltic Sea
News

Firm Issued Fake Insurance for Russian Oil Tankers, Norway’s FSA Says

The insurance issued to dozens of aging oil tankers used by Russia to skirt international sanctions was bogus, according to Norwegian authorities now

April 2, 2025
Total Views: 2784

Monday, January 6, 2025
Screenshot of video released by the Iranian-backed Houthis showing the attack on the MT CHIOS LION in the Red Sea, July 15, 2024.
Shipping

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

Inside faceless office buildings scattered around London, a niche corner of the insurance market is keeping hundreds of billions of dollars in commodity trade

January 6, 2025
Total Views: 3111

Tuesday, October 22, 2024
Smoke rises as a fire broke out on the cargo ship Fremantle Highway, at sea on July 26, 2023. Coastguard Netherlands Photo
Accidents

Global Marine Insurance Premiums Hit Record $38.9B as Fires and Geopolitics Loom Large

The International Union of Marine Insurance (IUMI) has released its 2024 “Stats Report,” providing a detailed analysis of the global marine insurance

October 22, 2024
Total Views: 869

Thursday, October 10, 2024
Masive hurricane wave breaks on shore with a lighthouse in the background
News

Insurance Companies Dodge Bullet With Milton

By Gautam Naik (Bloomberg) After fearing the worst from Hurricane Milton, investors in catastrophe bonds appear to have sustained losses well below those

October 10, 2024
Total Views: 766

Thursday, September 19, 2024
MT SOUNION pictured September 2, 2024, in the Red Sea. EUNAVFOR Photo
Shipping

The Rising Costs of Insuring Ships in the Red Sea

LONDON, Sept 19 (Reuters) – The cost of insuring a ship through the Red Sea has more than doubled since the start of September and some underwriters

September 19, 2024
Total Views: 724

Friday, August 2, 2024
A handout image shows the RSS Supreme's rigid-hulled inflatable boat in the vicinity of the burning vessels following a fire on two oil tankers about 55 km (34 miles) northeast of the Singaporean island of Pedra Branca, July 19, 2024. Republic of Singapore Navy/Handout via REUTERS
Accidents

Iranian Oil Ties May Complicate Singapore Tanker Collision Insurance Claims

By Jonathan Saul (Reuters) – A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels

August 2, 2024
Total Views: 2144

Tuesday, July 23, 2024
The Kozmino oil port in eastern Russia
Shipping

UK Ship Insurer Sees Problems Paying Claims Involving Sanctioned Russian Provider

By Jonathan Saul LONDON, July 23 (Reuters) – Paying claims for ships involved in accidents or collisions with other vessels covered by

July 23, 2024
Total Views: 1470

Wednesday, June 26, 2024
A U.S. Coast Guard patrol vessel travels along the Patapsco River, following the collapse of the Francis Scott Key Bridge in Baltimore, Maryland, U.S., March 28, 2024. REUTERS/Tom Brenner
Shipping

Bigger Ships, Bigger Risks: Navigating the Challenges of Modern Maritime Safety

By Captain Rahul Khanna The tragic collapse of Baltimore’s Francis Scott Key Bridge in the US after it was hit by the container ship Dali made headlines

June 26, 2024
Total Views: 2382

Wednesday, March 27, 2024
Stern view of containership Dali entangled in the baltimore bridge
Incidents

Insurers Face Billions in Losses from Baltimore Bridge Claims

By Sinead Cruise, Jonathan Saul and Carolyn Cohn LONDON, March 27 (Reuters) – Baltimore’s Francis Scott Key Bridge collapse

March 27, 2024
Total Views: 38263

Saturday, March 16, 2024
Oil supertanker Grace 1 seen in waters of British overseas territory of Gibraltar
Shipping

Treasury Is Asked Why US Firm Insures Ships Carrying Iran Oil

By Zachary R. Mider and Zeke Faux (Bloomberg) –A Republican congressman is asking the Treasury Department to explain its handling of a US insurance

March 16, 2024
Total Views: 3306

Friday, February 9, 2024
laden oil tanker
Shipping

US Insurer Covers Oil Tankers Suspected Of Violating Iran, Russia Sanctions

(Bloomberg) — Last June, a rusting tanker named Sincere 02 picked up oil at an Iranian port and steamed across the Persian Gulf on its way to

February 9, 2024
Total Views: 6781

Tuesday, February 6, 2024
Laden crude oil tanker approaches the port of Qingdao, China in the morning fog. Photo credit: Shutterstock/Igor Grochev
Shipping

Chinese Ships Get Insurance Edge Navigating Red Sea

By Alex Longley and Áine Quinn (Bloomberg) — Chinese-owned merchant ships are getting hefty discounts on their insurance when sailing through the Red

February 6, 2024
Total Views: 9656

Tuesday, January 16, 2024
A Maersk containership in the Suez Canal
Shipping

Ship Insurers Seeking Exclusions for US and UK Vessels from Red Sea Coverage

By Alex Longley and Áine Quinn (Bloomberg) — Some ship insurers are starting to avoid covering US and UK merchant ships against war risks when they

January 16, 2024
Total Views: 8889

Monday, January 15, 2024
Ship sailing in the Red Sea
Shipping

Red Sea Insurance Soars After US Airstrike

By Alex Longley (Bloomberg) The cost of war-risk insurance for vessels sailing through the Red Sea is spiraling, adding a further potential impediment to

January 15, 2024
Total Views: 4193

Monday, December 4, 2023
The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. Houthi Military Media/Handout via REUTERS
Piracy

War Risk Insurance Rates Edge Up Amid Red Sea Ship Attacks

By Jonathan Saul LONDON, Dec 4 (Reuters) – War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the

December 4, 2023
Total Views: 1791

Friday, November 10, 2023
Felicity Ace seen burning in the Atlantic Ocean off the Azores Islands. Picture was released Friday, February 18, 2022 by the Portuguese Navy. Photo courtesy Portuguese Navy
Shipping

Marine Insurance Market Sees Strong Growth in 2022

Global marine insurance premiums in 2022 increased by 8.3% to $35.8 billion, driven by trade rebound, rising asset values, reduced market capacity, and premium

November 10, 2023
Total Views: 975

Thursday, November 2, 2023
General view of Ashdod port, Israel October 23, 2023.
Shipping

Israel’s Shipping Industry Urges Government to Help With Jump in War Insurance

JERUSALEM, Nov 2 (Reuters) – Ships sailing for Israel face a 10-fold jump in war risk premiums as the conflict in Gaza intensifies, prompting

November 2, 2023
Total Views: 651

Friday, October 20, 2023
US Navy amphibious transport dock ship in the Middle East transiting the Suez Canal
News

LNG Tanker Departs Suez Canal Empty To Avoid War Risk Insurance Premium

By Anna Shiryaevskaya (Bloomberg) A liquefied natural gas vessel left an export terminal in Egypt either unloaded or only partially loaded, raising concerns

October 20, 2023
Total Views: 11921

Tuesday, September 19, 2023
Fremantle Highway boat fire
Shipping

Marine Insurance Industry Faces Inflation Challenge

Global ocean hull premiums rose by 5.7% in 2022 due to increased activity, vessel values, and reduced market capacity, but change is on the horizon

September 19, 2023
Total Views: 2022