ACORD Solutions Group, accounting giant 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. EY said that the distributed ledger will be used to capture information about shipments, risk and liability, and to help firms comply with insurance regulations. It will also ensure transparency across an interconnected network of clients, brokers, insurers and other third parties.

  • Maersk and Microsoft Tested a Blockchain for...

    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.

  • Cabot Oil & Gas Corporation (COG) Position...

    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.

  • What is a release call?

    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.

  • North Korea Sanctions Hit Global Cargo Shipping

    Global shipping services providers and ports in the US, Russia, Iran, Syria, and China, for example Dandong and Dalian, have been caught up in the US’s latest offensive on North Korean trade, analysis has found.


Integartion of Marine Insurance & Liability Mechanism

Senior managers from Maritime Administrations and legislative draftspersons specialised in maritime and shipping related legislation from 11 Pacific Island countries gathered in Suva this week (26–29 September) for the Regional Workshop on International Maritime Organization Civil Liability Conventions.


Cargo still sailing on rough seas – but land ahoy!

A year ago, the container shipping industry was in the doldrums with oversupply of capacity and lay-up of 7% of the global fleet in capacity terms. Predictions were that the market would only fully recover in 2018. One year on, we speak to some insurance players for their sentiments on the marine cargo market.


The impact of extreme weather on contracts of carriage

Extreme weather events may have an impact on the trading of cargo vessels, for example during the recent hurricanes Harvey, Irma and Maria in the USA and Caribbean, as they give rise to legal and cover questions in relations to the contracts of carriage agreed by the carrier.