Insurance

  • Insurance order good for maritime industry

    The Treasury’s directive that came into force on January 1 requiring all importers to procure marine insurance cover from Kenyan firms should be an entry point for the country to tap the largely unexploited maritime industry, also known as the “blue economy”.

  • Global ship insurers to resume near full coverage...

    Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from next month after striking a deal to provide cover without involving U.S.-domiciled reinsurers, officials in Tokyo and London said.

  • North P&I Club Expands Loss Prevention Team...

    North P&I Club has strengthened its loss prevention team this month with the appointment of loss prevention executive John Southam, a master mariner with global experience in container, offshore, shipbuilding and consultancy roles. Together with the recruitment of survey executive Stephen Maclennan from the Royal Navy earlier this year, his appointment boosts the Club’s international loss prevention department to 14.

  • The Swedish Club runs groundbreaking seminar

    Maritime insurer The Swedish Club opened its doors to senior shipowners and brokers from across Asia in November, welcoming them to the Club’s latest Marine Insurance Seminar, specifically designed for the Asian markets.

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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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Kennedys boosts Asia-Pacific expertise with Clyde & Co marine partner hire

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.
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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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Autonomous ship regulation ‘a bigger challenge than the technology’

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.

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New Maritime law fails to excite re-insurance firms

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.

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