Insurance

  • Autonomous ship regulation ‘a bigger challenge...

    Likely upcoming remote-controlled vessels and Maritime Autonomous Surface Ships (MASS) will force all members of the maritime sector and maritime nations to cooperate in ensuring a regulatory regime is in place that covers unmanned ships, according to a gathering at the Insurance institute of London (IIL) covered by Insurance Marine News.

  • New Maritime law fails to excite re-insurance...

    Reinsurance companies say they have little to smile about in the wake of the new marine insurance law. This is because the law, contained in Section 20 of the Insurance Act that makes it mandatory for local cargo importers to insure their goods with local insurance companies, has no provision compelling firms to re-insure marine cargo with local reinsurance companies.

  • Hannover Re sees marine reinsurance premiums fall

    German reinsurer Hannover Re reported that gross written premiums (GWP) for 2016 in marine within the p&c reinsurance sector declined to €277m, from €297m the previous year, equal to just over 10% of the €2.65bn (2015; €2.92bn) specialty lines book as a whole. Hannover Re’s total GWP was €11.92bn, down from €14.14bn in 2015.

  • Eshiptrading Announces Complete Ship Brokerage...

    Ship buying is not an easy task, particularly for a person who has no idea about ships. For all people or companies interested to purchase ships, eshiptrading now offers professional ship buying services, which include finding a suitable ship, offering technical consultation and even arranging finances for serious buyers. They offer complete consultation and ship buying services for a person to purchase the best ship by paying the best price.

  • Governments to carefully weigh up shipping ETS ‘...

    MEPs’ proposal to include shipping in the EU emissions trading system (ETS) from 2023, if the International Maritime Organisation (IMO) fails to agree a global measure to reduce shipping emissions, should be a wake-up call for the UN agency, a senior European Commission official has said. The remarks come as EU governments weigh up what’s described as a necessary ‘insurance policy’ in case the IMO again fails to act.

  • Brexit prompts ship insurers to look at...

    UK regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU's financial market, industry sources involved say.

  • Resolution Insurance Unveils Marine Insurance As...

    Resolution insurance has launched a comprehensive marine insurance cover dubbed ‘Resolution Marine Cargo’ in a move to offer affordable transit policy into the market that provides a one-stop shop solution for all marine insurance needs.

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Cargo Insurance Scheme Expanded to Protect Freight and Logistics Customers

DHL Global Forwarding recently expanded its 'all-risks' Cargo Insurance service to Ghana, Kenya, Morocco and Mozambique. While DHL says it aims to handle every shipment with utmost care, in the freight and logistics industry accidents, ranging from theft and breakages to natural disasters, can't always be avoided. DHL has developed Cargo Insurance services to protect customers against damage or loss during transportation. With its latest expansion, DHL Cargo Insurance is now available for customers from all industries across 74 countries worldwide.

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What marine insurers can learn from the RENOS case?

When assessing a constructive total loss of a ship, should the value of salvage services incurred prior to the issuance of a Notice of Abandonment be taken into account? Grant Pilkington offers advice in the context of a court decision in the RENOS engine room fire insurance claim and highlights its relevance for marine insurers in the UAE and Saudi Arabia.

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As Arctic Ice Vanishes, New Shipping Routes Open

As global warming melts sea ice across the Arctic, shipping routes once thought impossible — including directly over the North Pole — may open up by midcentury. But high costs may keep the new routes from being used right away.

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Piracy spikes shipowners' demand for kidnap and ransom insurance

There is a marked increase in shipowners opting for kidnap and ransom insurance across Southeast Asia and the Gulf of Aden region because of recent attacks on merchant vessels, executives involved in the deals in Europe and Asia said during the recent Sea Asia conference in Singapore.

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