UK-regulated ship insurers are looking to Luxembourg after fears Brexit will hinder access to the EU's financial market, industry sources say.
President of Premier Assurance Group Charles Jorge speaks at the launch of two health insurance products to be distributed in Jamaica by partner Maritime General Insurance Brokers at the Spanish Court Hotel in New Kingston on Thursday, February 2.
Premier Assurance (PA) Group has entered the Jamaican market with two new health insurance products through a partnership with Maritime General Insurance Brokers.
Shipping and Maritime affairs department has asked local insurance firms to embrace innovation to boost their capacity to underwrite marine insurance.
Norway has become the first country to become a Contracting State to a key compensation treaty covering the transport of hazardous and noxious substances (HNS) by ship.
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.
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.
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.
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.
Brexit and political uncertainty in Europe are likely to depress merger activity among European insurers this year, after a steep decline in deals in 2016, ratings agency AM Best said on Monday.
Rising energy claims against a reducing premium base; and the increased cargo accumulation risk onboard vessels and in port continue to challenge marine insurers.