Insurance

  • Tokio Marine, NTT DATA successfully test...

    Tokio Marine & Nichido Fire Insurance, a property/casualty insurance subsidiary of Tokio Marine Holdings, and NTT DATA Corporation, a leading business and IT services provider, have successfully tested the first blockchain-based insurance policy for marine cargo insurance certificates, IBTimes UK reported.

  • 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.

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Horrors of Crewing a Flag of Convenience Merchant Vessel Revealed in UK Port Seizures

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.

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Singapore Shipping Association to increase focus on marine insurance

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.

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Shipping losses continue to decline

Large shipping losses have declined by 50 per cent over the past decade, largely driven by development of a more robust safety environment by ship-owners, a report said.

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Amica Mutual Insurance Co. Raises Position in Occidental Petroleum Co. (OXY)

Amica Mutual Insurance Co. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 121.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,350 shares of the oil and gas producer’s stock after buying an additional 58,909 shares during the period. Amica Mutual Insurance Co.’s holdings in Occidental Petroleum were worth $6,802,000 as of its most recent filing with the SEC.

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