Insurance

  • Insurers warn on sulphur cap

    As the International Maritime Organization's (IMO) 2020 sulphur cap draws closer, insurance broker Marsh has emphasised that non-compliance with the regulations could allow a ship to be declared unseaworthy, threatening to invalidate liability insurance cover.

     

  • Vessel Construction Financing: Progressive title...

    Irrespective of how the construction of a vessel is financed, the shipyard and its financiers will require that the buyer pays a percentage of the contract price before delivery. This pre-payment may be lost to the buyer if proper security is not put in place. The provision of refund guarantees is the most common way in which this is achieved, but progressive title transfer may in some cases be an alternative method for securing the buyer’s position.

  • Oil Tanker Disaster to Be Probed by Maritime...

    The maritime authorities of China, Panama, Iran and Hong Kong on Thursday signed an agreement to jointly investigate a collision in the East China Sea that caused the worst oil ship disaster in decades, according to China’s Ministry of Transport.

  • Shipowners at risk of losing insurance cover

    Shipowners could find that their vessels are deemed unseaworthy and their insurance cover is affected by failing to comply with more stringent sulphur emissions (SOx) regulations, according to insurance broker Marsh.

  • Insurers await hull, clean-up claims from burning...

    Multiple marine hull and protection and indemnity insurers face claims from the collision of a tanker carrying Iranian oil and a cargo ship about 160 miles off China’s east coast on Sunday, which caused major damage and sent oil into the sea.

  • Cyber risks and the maritime industries: risk...

    Maritime industries are becoming increasingly reliant on technology and the use of data. On the one hand, this represents a shift towards industries that are safer, more efficient and more profitable – prime examples being the increasing use of e-bills of lading and automated systems for the operation of container ports. However, this greater reliance on technology also brings with it a range of increased risks.

  • Liquefaction leads to yet more loss of life and...

    The recent loss of Emerald Star in September this year, with the loss of another 10 seafarers lives, and the sinking of the Bulk Jupiter in 2015, with the loss of 18 lives, should remind us all of the inherent risks in transporting potentially hazardous goods such as nickel ore. Since 2009, there have been at least nine total loss cases attributable to liquefaction, resulting in the loss of over 100 lives.

  • Marine and transport re/insurance to be...

    In coming years the marine and transport re/insurance sector stands to be rapidly transformed by blockchain and IoT technology, both in terms of the risks they underwrite and how they do so, creating new opportunities for re/insurers.

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Insurers warn on sulphur cap

As the International Maritime Organization's (IMO) 2020 sulphur cap draws closer, insurance broker Marsh has emphasised that non-compliance with the regulations could allow a ship to be declared unseaworthy, threatening to invalidate liability insurance cover.

 
English

Vessel Construction Financing: Progressive title transfer versus refund guarantees

Irrespective of how the construction of a vessel is financed, the shipyard and its financiers will require that the buyer pays a percentage of the contract price before delivery. This pre-payment may be lost to the buyer if proper security is not put in place. The provision of refund guarantees is the most common way in which this is achieved, but progressive title transfer may in some cases be an alternative method for securing the buyer’s position.

English

Shipowners at risk of losing insurance cover

Shipowners could find that their vessels are deemed unseaworthy and their insurance cover is affected by failing to comply with more stringent sulphur emissions (SOx) regulations, according to insurance broker Marsh.

English

Insurers await hull, clean-up claims from burning tanker

Multiple marine hull and protection and indemnity insurers face claims from the collision of a tanker carrying Iranian oil and a cargo ship about 160 miles off China’s east coast on Sunday, which caused major damage and sent oil into the sea.

English

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