At annual IUMI (International Union of Marine Insurance) conference in Tokyo, James McDonald, chairman of IUMI’s Offshore Energy Committee warned that the sector was “sinking”. His warning was based on declining total premium income set…
The Shipowners’ Club, the leading P&I insurer in the smaller and specialist vessel sector, has reported steady financial results for the six months ended 30 June 2017, despite challenging market conditions. The Club recorded a 99.3% combined ratio…
If you’ve been working in the marine insurance industry lately, you will have heard about “blockchain” at some point; it is the electronic, distributed ledger, notoriously known for enabling the use of cryptocurrencies such as Bitcoin and Ether…
North P&I Club has announced details of a new benefit for members to encourage them to better understand their vulnerabilities to cyber-risk and to improve their cyber-security processes and systems. From today, North P&I members can receive a 20% discount on evaluation platform…
George Devereese, Senior Loss Prevention Executive at UK P&I Club, discusses how this important piece of apparatus is often overlooked and why it is important to have realistic fire training drills. With only five fires aboard U.K. flagged vessels over 100 GT in 2015…
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry. About 90 percent of world trade is transported by sea…
Cosco Shipping Energy Transportation has entered into insurance services framework agreement with Cosco Shipping Insurance pursuant to which the latter will provide vessel-related insurance services to the Group. Cosco Shipping Insurance is a wholly-owned subsidiary of Cosco Shipping…
The UK P&I Club has confirmed its commitment to making a positive impact on seafarer welfare by extending its support of Sailors’ Society’s Emotional Wellness module.One of five sections in the global maritime charity’s Wellness at Sea coaching program…
North P&I Club joined a collaboration between shipping industry leaders, including BIMCO, DNV GL and the Marshall Islands Registry, to combat cyber criminals by committing to the CSO Alliance’s global information and reporting platform for digital attacks…
Anatomy of an Accident, a new publication from The Swedish Club, provides a unique insight into the huge coordinated exercise that surrounds a serious vessel casualty. Illustrating just how easily an incident can escalate; the guide explores…
XL Catlin has announced the promotion of Rob McAdams to the position of Chief Underwriting Officer for Global Marine with immediate effect. Previously, McAdams held the role of UK/ Ireland Marine Leader.McAdams has 20 years’ experience in the insurance industry…
The American Equity Underwriters, Inc., a provider of workers’ compensation insurance for maritime employers, announced that two employees – John A. “Jack” Martone and Ryan LeVeque – have been named to the board of directors of the Longshore Claims Association…
Markel International Singapore, the specialist insurer, has appointed Gustaf Kristiansson as marine underwriter based in Singapore. Kristiansson joins the Singapore office from Markel International’s Sweden office where he held the same position…
The Shipowners’ Club, the leading mutual P&I insurer in the smaller and specialist vessel sector, has reported resilient results for the year ending 31 December 2016. The Club has reported a combined ratio of 98.6%, an increase in gross tonnage of 0…
International Transport Intermediaries Club (ITIC) says communication failings within shipbrokers’ organizations can result in important instructions from principals being overlooked, leading to potentially costly claims.In the most recent issue of its Claims Review…
