Wednesday, October 13, 2021
Thursday, April 1, 2021
Marine Reinsurance Firms Expect Giant Suez Blockage Claims
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,...
Tuesday, October 27, 2020
Monday, August 10, 2020
Marine Insurance Losses Seen Below $250 Million from Beirut Blast
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...
Tuesday, December 3, 2019
Uncertainty Prevails Across All Marine Insurance Lines, IUMI Report Shows
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...
Tuesday, October 22, 2019
Marine Insurers Call for Action to Address Containership Fires
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...
Monday, September 16, 2019
Marine Insurance Premiums See Modest Increase Amid Market Uncertainty -IUMI
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...
Monday, June 24, 2019
Rivals Ride Rising Rates as Lloyd’s Abandons Some Ship 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...
Friday, April 26, 2019
Concerns Remain for Global Marine Underwriting, Says IUMI
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....
Lloyd’s of London Plots New Course as Storm Clouds Gather
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,...
Tuesday, March 26, 2019
Monday, May 14, 2018
Rolls-Royce and AXA Partner on Risk Management Products for Autonomous Shipping
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...
Thursday, February 22, 2018
British Ship Insurer Steamship to Set Up Dutch Subsidiary as Brexit Hedge
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...
Monday, January 8, 2018
Human Error to Blame for ‘Majority’ of Auxiliary Engine Damage Claims -Marine Insurer
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...
Tuesday, December 5, 2017
Ship Insurer: Chittagong Emerges as International Anchor-Dragging Hotspot
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...
Tuesday, September 5, 2017
Maersk and Partners to Deploy Blockchain-Based Marine Insurance Platform in January
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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