In the aftermath of an onboard incident that leads to serious or fatal injuries, the well-being of fellow crewmembers must not be forgotten – especially when there is potential to...
by Carolyn Cohn (Reuters) – The recent blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers,...
By Jonathan Saul LONDON, Oct 27 (Reuters) – When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong. Double the manpower...
LONDON, Aug 10 (Reuters) – Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to...
The return of major losses in shipping and the increasing accumulation of risk, both onboard ships and ashore, is impacting various lines of the marine insurance market, according to International...
The International Union of Marine Insurance says it’s time to take action to address an alarming number of containership fires occurring in 2019. So far this year, the containership industry...
Marine underwriting premiums rose by just one percent last year, but future market development remains uncertain as the marine insurance sector faces significant challenges, the International Union of Marine Insurance...
By Carolyn Cohn, Jonathan Saul and Suzanne Barlyn LONDON/NEW YORK, June 24 (Reuters) – Rivals to Lloyd’s of London are riding a rising tide of marine insurance rates, leaving the 330-year-old...
The number of total losses among vessels over 500GT hit at a 20-year low in 2018 despite growth in the global fleet, according to the International Union of Marine Insurance....
By Carolyn Cohn and Jonathan Saul LONDON, April 26 (Reuters) – Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. Old-fashioned business practices,...
LONDON, March 26 (Reuters) – British ship insurer UK P&I Club has received approval from the Dutch regulator for a new subsidiary in Rotterdam to ensure continued access to trade...
Rolls-Royce and risk management firm AXA Corporate Solutions on Monday announced they have signed a Letter of Intent (LOI) to explore ways to jointly develop risk management products for autonomous...
By Jonathan Saul LONDON, Feb 22 (Reuters) – British ship insurer Steamship Mutual plans to set up a new Dutch subsidiary to ensure continued access to trade in the European Union...
The majority of auxiliary engine damage occurring onboard ships happens as the result of human error, according to a new warning from the marine insurer The Swedish Club. An investigation...
British ship insurer the London P&I Club has issued a warning of the increased risk of accidents involving ships at anchor in the Bangladeshi port of Chittagong, which the club...
By Jemima Kelly LONDON, Sept 6 (Reuters) – Consultancy EY, data security firm Guardtime, Microsoft and ship operator Maersk have joined to build a blockchain-based marine insurance platform that will be...
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