Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of Club membership, which is typical within the mutual P&I environment, permits longer term investment and planning to be undertaken.
ProSight Specialty® Insurance announced today the launch of a Marine Contractors program, Longshore+ Marine Contractors, unifying all lines of insurance under a single carrier: ProSight.
Shipowner Torm has inked a deal to buy four fuel efficient MR resale tankers from China’s CSSC Offshore & Marine Engineering Co (Comec), with deliveries expected in 2019.
Two most heavily traded Dubai stocks were Islamic insurers. Poor corporate earnings, many of them the result of Saudi Arabia's austerity policies and sluggish economic growth, weighed on the Saudi stock market in early trade on Tuesday as regional bourses were generally soft.
Following our recent piece on the M/V Seccadi, a freighter registered under a flag of convenience and held by the British authorities after non-payment of crew wages and the discovery of disgusting conditions on board, comes more information regarding this and two other ships similarly flagged as Panamanian and also crewed by personnel abandoned by the vessels owners and operators. In each case the crews have been supported by the International Transport Workers' Federation (ITF) which equates the cases to a culture close to modern day slavery.
Last week, the UK's Supreme Court gave a decision by the closest of margins (3 to 2) which will have significant implications for Middle East projects where the parties have agreed a common approach to insurance.
China’s central bank will take on a bigger role in macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that ended.
A leader of the Singapore Shipping Association (SSA), an organisation composed of the country’s shipowners and members of allied industries, said that the group will focus its efforts on improving the field of marine insurance to better protect its members and further Singapore’s status as a global maritime hub.
‘Big four’ accounting house EY, technology giant Microsoft and the Maersk, the world’s largest shipping company have combined to launch the world’s first marine insurance blockchain platform.
When shipping goods from A to B, any number of things can go wrong: cargo gets damaged, a congested port delays docking, a storm throws a vessel off course, pirates raid a ship. So shippers buy insurance through a complex jumble of brokers and underwriters to manage the risk to their freight.
The absence of human capacity in oil and gas insurance underwriting has been identified as a major reason for the massive outflow of insurance businesses to the London market, writes Ebere Nwoji
U.S. stocks finished little changed on Monday as investors focused on the effects of Tropical Storm Harvey. Insurance companies and oil drillers stumbled while refineries rose along with gasoline prices.
Massive flooding caused by Tropical Storm Harvey along Texas' refinery-rich coast could have long-standing and far-reaching consequences for the state's oil and gas industry and the larger U.S. economy.
Nippon Life Insurance Co. reduced its position in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission.