In the early hours of Saturday 9th August 2014, the radar of a product tanker transiting south, 200 nautical miles off the Nigerian shoreline detected a probable pirate mother ship lying in wait close to its track. Shortly after detecting the vessel…
As the Panama Canal prepares to celebrate its 100th anniversary, insurers are warning of the increased risks that will arise from its plan to double the cargo-carrying capacity of ships transiting one of the world’s most important waterways…
The North P&I club has warned its members to check their new ships very carefully before accepting delivery. The club said in the latest issue of its loss prevention newsletter Signals that it has become aware of several of instances of potentially…
New program offers customized cover backed by Lloyd’s securityEagle Ocean Marine, a fixed-premium P&I facility operated as a joint venture between a number of Lloyd’s syndicates and the American Club, has established a dedicated program…
The Shipping Professional Network London (SPNL) has released their full Future London report, an initiative that gathered the views and opinions of London’s young shipping professionals on what needs to be done for London to retain and improve its position as a global maritime capital…
The American Boat & Yacht Council (ABYC) is now offering a new membership category designed for insurance companies and law firms operating in the marine industry. Since settling disputes, assigning subrogation, various litigation scenarios…
The American P&I Club has added to its library of e-learning modules released in cooperation with IDESS IT in the Philippines. The new module covers compliance with The Code of Practice for the Safe Loading and Unloading of Bulk Carriers (BLU Code)…
Global Rescue, a crisis response firm providing medical, security, evacuation, and travel risk management services, says it has coordinated the rescue of a rower from the middle of the Indian Ocean after he sustained severe burns.Ocean Row…
TT Club is continuing its sponsorship of FIATA’s Young International Freight Forwarder of the Year Award. The relationship between the two organizations in relation to this training and development award is now in its sixteenth year and is aimed at identifying…
The American Equity Underwriters, Inc. (AEU) recently hired Ray Ruizas Loss Control Manager.Ruizas’ safety experience includes five years at a large shipyard in Port Arthur, Texas, where he implemented management systems, conducted incident investigations…
TT Club announced its support for a unique learning initiative – Business on the Move. The educational tool takes the form of a board game which is designed to be played at varying levels of complexity. Consequently, it is suitable for primary…
John M Lyras, Chairman of the London P&I Club, has called for concerted international action on the provision of places of refuge for ships involved in casualties.Writing in the club’s 2014 Annual Report, Lyras commented, “Nearly twelve years after the Prestige disaster…
XL Group strengthened its Insurance Marine team with the appointment of Mike Davies as Chief Underwriting Officer, Marine, Asia Pacific and Ian Picton as Senior Upstream Underwriter. Understanding the local industry and what is impacting it…
Overlapping State and Federal Requirements for Vessel Discharges, Abandoned Vessels, and Oil Spill LiabilityWhile the U.S. Congress can create and pass legislation, in many circumstances there can be state laws that either augment, overlap or potentially create conflict with the federal laws…
Underwriters must do their homework and those who do that will generally have solid results.Insurers, by definition, are in the business of risk. Hence, risk assessment is a critical aspect of day-to-day operations. That said; it always…