Insurance

  • Hong Kong insurance sector looks to its future in...

    The Financial Services Development Council (the "Council") issued an important report, titled: "Turning Crisis into Opportunities: Hong Kong as an Insurance Hub with Development Focuses on Reinsurance, Marine and Captive" (the "Report"). The Report aims to promote business in the Hong Kong insurance market with closer cooperation with China, particularly under the One Belt, One Road initiative.

  • LOUISIANA FEDERAL COURT FINDS REMOVAL PROPER AS...

    In this case, a Louisiana federal court denied a motion for remand of a former machinist’s asbestos-related claim, finding that an English insurer’s removal from state court was appropriate and that the dispute could relate to an underlying arbitration agreement contained in an insurance policy.

  • Gov't moving to claim 100 bln won in...

    The South Korean government has been in talks with a local trade association to get some 100 billion won (US$88.5 million) in insurance money to defray the cost related to the sinking of the Sewol ferry, an official source said.

  • Singapore Marine Insurance Conference 2017 to...

    In its continued efforts toward engaging the marine insurance and maritime communities, the General Insurance Association of Singapore (GIA) said it is organising its inaugural marine insurance conference, gathering international Industry leaders to discuss the latest developments and explore emerging topics from across the marine insurance and maritime-related industries.

  • Greek company must face B.C. court for 2015 MV...

    A Federal Court judge has rejected an application for judicial review filed by a Greece-based company facing charges in a 2015 fuel spill in Vancouver’s English Bay, saying it must make its case in British Columbia Supreme Court.

  • Smooth sailing on the high seas

    A shipowner seeking finance in Hong Kong has a plethora of choices including debt financing from the many international banks with a shipping portfolio, leasing or, in the case of a public company, it may choose to issue shares or bonds.

  • Kennedys boosts Asia-Pacific expertise with Clyde...

    International law firm Kennedys has boosted its international marine insurance and shipping practice, and particularly its Korean expertise, with the appointment of disputes partner Deug Rong (“DR”) Lee from Clyde & Co. DR joins Kennedys’ international marine insurance and shipping team, which came about as a result of their merger with Waltons & Morse in November last year. He will be based in the firm’s London office.

  • Smooth sailing on the high seas

    As one of Asia’s premier financial centre, Hong Kong offers shipowners and maritime industry service providers a wide range of key financial and insurance options, facilitating the continued development of the industry

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The duty of procuring a superyacht's insurance policy

A recent case in the US courts looked at whether a marine insurance broker owed a heightened duty to its client in procuring the superyacht's insurance policy. Jason P. Minkin and Jonathan A. Cipriani of BatesCarey LLP, Chicago, explain.

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ASEAN Fails To Address China, But Moves Closer To Addressing Piracy On South China Sea

As the 30th ASEAN Summit in Manila, Philippines came to a close, the primary questions regarding maritime security, terrorism, human trafficking ended with consensus, with one glaring omission. The word China does appear in any of the statements by either the Chairman’s final remarks of the conference, nor any remarks by the host, Philippine President Rodrigo Rao Duterte.

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Metropolitan Life Insurance Co. NY Sells 887 Shares of Natural Gas Services Group, Inc. (NGS)

Metropolitan Life Insurance Co. NY decreased its position in Natural Gas Services Group, Inc. (NYSE:NGS) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,307 shares of the oil and gas company’s stock after selling 887 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Natural Gas Services Group worth $299,000 at the end of the most recent reporting period.

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Oil spill protection needed

THE ISSUE:
A proposed law to hold oil storage facility owners accountable is again up for debate.
THE STAKES:
Requiring companies to be properly insured will protect people and property around the oil storage operations.

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