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insurance


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: 2227

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: 38170

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: 3243

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: 6697

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: 9582

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: 8817

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: 4135

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: 1733

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: 912

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: 607

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: 11850

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: 1948

Monday, September 18, 2023
Smoke rises as a fire broke out on the cargo ship Fremantle Highway, at sea on July 26, 2023. Coastguard Netherlands Photo
Shipping

Global Marine Insurance Market Sees Positive Growth in 2022, Reports IUMI

The International Union of Marine Insurance (IUMI) reports a positive trend in the marine insurance market, with an 8.3% increase in global premium base for

September 18, 2023
Total Views: 819

Thursday, September 7, 2023
A view shows silos of grain from Odesa Black Sea port, before a shipment of grain as the government of Ukraine awaits signal from UN and Turkey to start grain shipments, amid Russia's invasion of Ukraine, in Odesa, Ukraine July 29, 2022.
Shipping

Lloyd’s in Talks With UN Over New Black Sea Grain Insurance Cover

LONDON, Sept 7 (Reuters) – Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if

September 7, 2023
Total Views: 533

Thursday, August 10, 2023
A police boat with a Taiwan flag sails at the Port of Taipei in Taipei, Taiwan, February 9, 2021. Photo courtesy REUTERS/Ann Wang
Shipping

Lloyd’s of London Leads Insurers Tightening Taiwan Cover as Conflict Risks Rise

LONDON, Aug 10 (Reuters) – Lloyd’s of London underwriters are leading insurers in raising rates and cutting the amount of cover they

August 10, 2023
Total Views: 919

Monday, July 10, 2023
Marine License Insurance FAQs for Groups and Individually Licensed Mariners
Sponsored

Marine License Insurance FAQs for Groups and Individually Licensed Mariners

Unexpected shipping casualties or vessel incidents occur frequently and can result in an investigation and the suspension of your USCG license. Acting fast and

July 10, 2023
Total Views: 1856

Saturday, December 31, 2022
Dead In The Water Book
Piracy

Dead In The Water – The Best Maritime Book Of The Year

The following is a review of the book Dead In The Water, a book about the Brillante Virtuoso, a tragedy that shook the shipping world and left us all

December 31, 2022
Total Views: 8312

Saturday, December 24, 2022
Russian cargo ship Sparta II
Shipping

Japan Firms To Stop Insuring Ships In All Russian Waters 

TOKYO, Dec 24 (Reuters) – Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in

December 24, 2022
Total Views: 3543

Saturday, December 17, 2022
Smart Sanctions: The West Finally Gets Clever About Russia
Shipping

Smart Sanctions: The West Finally Gets Clever About Russia

Robert Huish (The Conversation)–The European Union and the United States are now targeting maritime protection and indemnity (P&I) insurance

December 17, 2022
Total Views: 11510

Reinsurers Could Prohibit Black Sea Voyages Starting January 1st
Shipping

Reinsurers Could Prohibit Black Sea Voyages Starting January 1st

by Carolyn Cohn (Reuters) Insurers may refuse to cover planes flying to Ukraine or ships sailing through the Black Sea as reinsurers – who

December 17, 2022
Total Views: 1854
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