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Thursday, November 26, 2020

Insurance Services News

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Insurance Company Launched to Focus on Maritime Cyber Threats

A new insurance services business has been launched to protect maritime companies from cyber threats. Offering risk management, underwriting and analytics, Astaara Company Limited said it aims to modernize this area of the insurance industry."The insurance business is behind the times when it comes to cyber threats to maritime companies. It is only by listening to and responding to what the maritime community needs that you can create a solution that is relevant and necessary…

Interferry CEO Mike Corrigan explains why the global trade association is poised to take its work to the next level.

Interferry Charts a Course for Growth

Interferry CEO Mike Corrigan explains why the global trade association is poised to take its work to the next level.While I respect the mantra of cautious optimism, I can’t help feeling genuinely excited that 2019 could prove to be a milestone year in the continuing growth of Interferry’s influence as the global voice of the ferry industry. We’ve come a long way since our US origins in 1976 as what was essentially a networking movement, but developments in recent months already suggest we are on course for yet more enhancement of our present-day worldwide networking and lobbying relationships.

Cosco Firms Sign Insurance​ Agreement

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 Company’s indirect controlling shareholder. Accordingly, Cosco Shipping Insurance is a connected person of the Company, and the Insurance Services Framework Agreement and the transactions thereunder constitute continuing connected transactions of the Company.

Nyheim, Wang Join Wilhelmsen as Vice Presidents

As part of reshaping the executive team, the Wilhelmsen group adds two senior vice presidents to its group management team. Mr Erik Nyheim will be responsible for Wilhelmsen’s investments in ships service (marine products and agency), safety products and solutions (Survitec), governmental services and Qube, while Mr Jan Eyvin Wang will be responsible for following up ship management, insurance services, Treasure ASA and NorSea Group. “I am pleased to see Erik and Jan Eyvin joining our team,” says Thomas Wilhelmsen, group CEO at Wilhelmsen.

Photo: Global Maritime

Global Maritime Brings Eagle Lyon Pope (ELP) to Market

Global Maritime Consultancy & Engineering, a provider of offshore marine warranty, dynamic positioning and engineering services, has re-launched Eagle Lyon Pope (ELP), its ports and shipping, marine casualty investigation and loss adjusting division. The move is in response to a growing demand for such services and will be headed by Peter Lyall, former head of Risk Insurance Services at Global Maritime. ELP will be based out of London with other offices in Hamburg, Abu Dhabi, Oslo…

Seoul's Effort to Calm Shipping Sector Storm

South Korea will pump $9.5bn (11 trillion won) into state-run policy lenders reeling from huge losses on loans made to the beleaguered shipbuilding and shipping sectors to help them deal with further corporate distress, says FT. South Korea's fund will support two state-run banks most exposed to shipping and shipbuilding firms currently being restructured. The China slowdown is partly to blame. The two state-run banks to be capitalised are Korea Development Bank (KDB) and the Export-Import Bank of Korea (KEXIM).

Michael S. Smith (Photo: HII)

HII Names Smith VP, Strategy and Development

Huntington Ingalls Industries (HII) announced that Michael S. Smith has been named the company’s corporate vice president, strategy and development, succeeding Christopher D. Kastner, who is replacing Barbara A. Niland as corporate vice president and CFO upon her retirement. Smith reports directly to HII President and CEO Mike Petters. Smith joined HII in 2014 as corporate vice president, business growth. Most recently, he was responsible for executing the growth strategy in commercial and government nuclear markets…

China Marine Giant COSCOCS Strategizes Business

China COSCO Shipping Corp Ltd  (COSCOCS), a new company formed by the restructuring of China's top two shipping firms, was officially established on Thursday (February 18). The Chairman Xu Lirong said his company,now the world's largest bulk vessel and oil tanker operator by fleet size,  is planning to deploy more resources to six new businesses. According to a report in China Daily, the shipping major will focus on logistics, industrial equipment manufacturing, financial and shipping services, investment, and operations linked to the country's "Internet Plus" development program.

Joe Riley (Photo: AMI)

AMI Elects Board Directors

The Association of Marina Industries (AMI) elected its 2016 Officers and Directors at its annual International Marina & Boatyard Conference (IMBC) held January 27-29, 2016 in Fort Lauderdale, Fla. Brad Gross, Certified Marina Manager (CMM) of Dana Point Harbor was appointed Chair; Joe Riley, CMM of Windmill Marina Association, Inc. was appointed Vice Chair; Chris Petty of Suntex Waterfront Management was appointed Treasurer; and Mick Webber of HydroHoist Marine Group was reappointed Secretary. This year, five new members were elected to the 2016 Board of Directors for a three-year term.

IRISL Readies for Europe

The Islamic Republic of Iran Shipping Lines (IRISL) is seeking to open bureaus across Europe, says its Managing-Director Dr. Mohammad Saeidi. IRNA reports Saeidi as saying that once the arbitrary sanctions on Iran are lifted, Iranian-flagged ships can travel between Iranian and European ports. He said that imposition of anti-Iran sanctions banned Iranian ships from travelling to Europe and vessels owned by international companies from travelling to Iran as well. Launching shipping bureaus across Europe is aimed at facilitating exports of Iranian oil and non-oil products to European ports…

Christopher D. Kastner (Photo: HII)

Leadership Changes at Huntington Ingalls Industries

U.S. shipbuilder Huntington Ingalls Industries (HII) announced today a number of changes across its leadership team. HII’s Board of Directors has elected Christopher D. Kastner to succeed Barbara A. Niland as the company’s chief financial officer and corporate vice president, business management, effective with Niland’s retirement on March 1, 2016. Furthermore Philip Luna, corporate vice president and president, UniversalPegasus International (UPI), a subsidiary of HII, has been promoted to the HII senior executive team, effective immediately.

Thomas Miller Acquires Marine Law Firm

Thomas Miller the international insurance, professional and insurance services provider announces the acquisition of the partners and staff of specialist marine law firm, Davies Johnson & Co of Plymouth. The acquisition brings an additional six fee earners to the Thomas Miller Law Ltd (TM Law) team. The firm will operate from Plymouth and London in addition to TM Law’s main office in Newcastle, where it forms part of the Group’s claims handling and risk management consultancy business.

RRI Launch Marine Services J/V with a Trans-Atlantic Reach

Regional Reporting Inc. (RRI) and Global Risk Evaluations (GREvL) inform of the creation of a joint venture aimed at expanding their marine services offerings. The new company Marine Reporting International Ltd. (MRI) will combine the marine division of GREvL and RRI's UK subsidiary. The new company Marine Reporting International Ltd. (MRI) will combine the marine division of GREvL and RRI's UK subsidiary. MRI will be headed by John Worrall and John Arber, supported by George Stobbs and Marek Domanski.

TT Club Applauds Success in Logistics Innovation

TT Club, which provides liability, cargo and property cover to freight forwarders and logistics companies, once more observes that innovation in technological capabilities and tailored supply chain processes is essential for logistics companies to thrive in a sustained competitive environment. A long-term supporter of the British International Freight Association (BIFA) Awards, TT Club sponsored the 2013 European Logistics Award. TT Club’s Development Director for U.K. and Ireland…

Justice image CCL

Improper Cargo Loading, Limitation of Liability Tutorial Podcast

Insurance services specialists A.M. Best Co. has released the latest installment of the Insurance Law Podcast, a series that examines timely insurance issues from an attorney’s point of view. This episode features attorney Daniel Raab from the law firm of Daniel W. Raab, P.A. in Miami, FL. Mr. Raab, who has practiced law in Florida for more than 20 years, has served as Adjunct Professor at St. Thomas University School of Law, University of Miami School of Law and Florida International College of Law.

Captain Kuba Szymanski, InterManager Secretary General

InterManager Offers Seafarer Activities

As the annual Day of the Seafarer dawns (June 25), InterManager, whose members manage more than 250,000 of the world’s seafarers, has reaffirmed its commitment to crewmembers with a package of activities aimed at addressing crew-related issues. The association, whose members are involved in the management of a third of the world fleet, is working with industry partners and training institutions on a number of projects to benefit crew members throughout the global shipping sector.

TT Club Spots Innovation Trend in Logistics Sector

Insurance specialist in the global freight industry, TT Club, sees proliferation in technological capabilities & tailored supply chain processes. A long-term supporter of the British International Freight Association (BIFA) Awards, TT Club sponsored the 2012 European Logistics Award. TT Club’s Development Director for UK and Ireland, Brian Sullivan was part of the judging panel that employed a stringent vetting process to find the winner, Delamode International Logistics. The award was presented by Sullivan at a ceremony in London last month.