Maersk Aims to Cover Itself with Alternative Cargo Insurance

By Alexander Whiteman (The Loadstar) - Maersk Line is launching what it claims is an alternative to cargo insurance in response to the rising number of shipments consigned without cover. According to the carrier, some 30% of cargo moved by sea is uninsured, but one source told The Loadstar this figure is could be overly conservative. “In my experience, the actual … [Read more...]

British P&I Club Britannia Planning Luxembourg Subsidiary Due to Brexit

By Jonathan Saul LONDON, Dec 1 (Reuters) - British ship insurer Britannia plans to set up a subsidiary in Luxembourg as a result of Britain's decision to leave the European Union, it said on Friday, to ensure it can continue to trade in Europe. Europe accounts for over 40 percent of Britannia's global business, according to company data. Insurers are making contingency … [Read more...]

Fidelis Group Holdings, LLC Hires Dennis Mathies as Senior Marine Underwriter

Fidelis Group Holdings, LLC (FGH), with its subsidiary Continental Underwriters, Ltd., announced today the hiring of Mr. Dennis Mathies as Senior Marine Underwriter. Mr. Mathies will be responsible for expanding the group’s Brown Water Hull, Liabilities and Cargo product lines and will be based in their Houston, Texas office. “Over the last half century we have been committed … [Read more...]

Brexit Prompts Ship Insurers to Look at Luxembourg, Cyprus Bases

By Jonathan Saul and Carolyn Cohn LONDON, Feb 24 (Reuters) - U.K.-regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU's financial market, industry sources involved say. Britain dominates the global marine insurance market and losing access to … [Read more...]