Marine Insurance News

 

Willis Towers Watson Launches New Cyber Insurance, CyNav for Ship Owners

Apr 28, 2020

Willis Towers Watson unveiled a new type of cyber insurance product for shipowners that redesigns standard cyber policies to better navigate the risks for ship operators in the digital era.The solution, CyNav, addresses cyber threats in the broadest sense, including losses that occur from cyber-related business interruptions, even when the cyber events originate with third party IT service providers…

UK Insurers Join Cargo Safety Initiative

Sep 06, 2023

Safetytech Accelerator, a non-profit established by Lloyd’s Register, has confirmed that UK maritime insurers, the UK P&I Club and TT Club, have signed up for its Cargo Fire & Loss Innovation Initiative (CFLII).The Initiative, launched in February 2023…

Top Threats for the Marine Industry in 2023

Feb 23, 2023

Allianz just released its 12th Risk Barometer, an annual corporate risk survey incorporating the views of 2,712 risk management experts in 94 countries and territories, including CEOs, risk managers, brokers and insurance experts. The overall…

Black Sea Shipping Rates Soar 20% as Reinsurers Cut Cover

Jan 06, 2023

Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said.The Black Sea is crucial for the shipment of grain…

North P&I Launches Mobile App to ease Evidence Gathering

Dec 12, 2022

A new mobile app from North P&I is designed to make collecting evidence on incidents faster, easier and more accurate while enhancing reporting consistency in future claims. ‘The MRCE Handbook’ app from North is aimed to help senior officers…

Lithium-ion Batteries: Fire Risks and Loss Prevention Measures in Shipping

Oct 03, 2022

About the Author: Captain Rahul Khanna is Global Head of Marine Risk Consulting at Allianz Global Corporate & Specialty. A marine professional with 26 years of experience within the Shipping and Maritime industry, Captain Khanna served more than 14 years on board merchant ships in all ranks…

Marine Insurance: Climate Change Challenges for the Shipping Industry

Jul 29, 2022

With 90% of global trade moved by sea, shipping is a major contributor to climate change. The International Maritime Organization (IMO) estimated that the industry’s greenhouse gas emissions grew by 10% between 2012 and 2018, while the industry’s…

Marine Insurance: CyNav for Ports & Terminals

Jun 01, 2022

WTW has launched CyNav for Ports and Terminals, a cyber solution specifically designed to help address the escalating cyber risks faced by owners and operators in this strategically vital sector of the global maritime supply chain.      The…

Pizzaro Joins Britannia P&I

Jan 04, 2022

Britannia P&I and its Exclusive Correspondent in the US, B Americas P&I, announce the recruitment of Marcela Pizzaro. She joined B Americas P&I on 3 January 2022.Pizzaro worked for many years at one of the major international container lines…

Insurance Insights: Larger Vessels, Larger Exposures

Dec 09, 2021

The blocking of the Suez Canal by one of the largest container ships in service in the world – the Ever Given – in March 2021 caused huge delays to hundreds of vessels waiting to transit the canal, one of the biggest chokepoints on the critical East/West trade shipping route…

IUMI: Insurers, Underwriters Must Jump Onboard Maritime's Digital Transformation

Sep 25, 2020

Speaking at the International Union of Marine Insurance (IUMI) annual conference, IUMI Data and Digitalization Forum Chair, Patrizia Kern discussed big data, the use of digital technologies, and how the COVID-19 pandemic has put digitalization on the fast track…

Romania Tries to Free Trapped Sheep on Capsized Ship

Nov 25, 2019

Port authorities tried to right a capsized ship on Monday to rescue thousands of sheep trapped below deck in the Black Sea off Romania.The Palau-registered Queen Hind flipped onto its side shortly after leaving Romania's Midia port en route to Saudi Arabia on Sunday…

North P&I Club Sets 7.5% General Increase

Nov 20, 2019

Directors of North P&I Club have decided to set a general increase of 7.5% on P&I and FD&D premiums for the 2020/21 Policy Year. The increase is considered necessary to maintain the Club’s financial strength and stability in a climate of rising International Group Pool claims and premium erosion…

Decarbonisation a Major Issue in Shipping

Oct 30, 2019

Survey respondents from 46 different countries around the world highlight ‘decarbonization of shipping’, ‘new environmental regulation’, ‘societal demands for sustainability’, and ‘failure of climate-change mitigation and adoption’ as four of…

Hapag-Lloyd Launches Quick Cargo Insurance

Sep 11, 2019

German-based global cargo container shipping line, Hapag-Lloyd AG is expanding its digital product portfolio. As one of the first container shipping companies, Hapag-Lloyd is now offering its customers an online marine insurance.'Quick Cargo…

Logistics News

Yara and ACME Sign Ammonia Supply Agreement

Yara and ACME Sign Ammonia Supply Agreement

Animal Welfare Groups Decry Bahijah Re-Export Decision

Animal Welfare Groups Decry Bahijah Re-Export Decision

US Gulf Coast Fuel Oil Imports Hit Five-year Low

US Gulf Coast Fuel Oil Imports Hit Five-year Low

Post-cyclone Dredging Underway in India's Port of Krishnapatnam

Post-cyclone Dredging Underway in India's Port of Krishnapatnam

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