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Insurance

Keep informed with daily analysis and insight into shipping insurance to reduce risk, support reinsurance decisions, manage investments and identify exposure within the maritime industry

Suez closure likely to lead to ‘a spider’s web’ of claims

De facto closure limited to four days and fewer than 10% of transits in March, Leth Agencies add

Egypt Containers

Japan Club loses tonnage as loss record deteriorates

Year ended in surplus despite first-half deficit, with focus now on improving finances rather than expanding book

Asia Pacific Japan

‘Extraordinary reduction’ in hull claims’ cost and frequency

Record lows attributed to reduced shipping activity and are unlikely to continue as world trade picks up, industry told

Sweden Norway

Too early to assess Suez grounding pool hit, says International Group

All 25 crew and master remain on board Ever Given assisting multiple investigations and inspections. Data from the voyage data recorder has been handed to investigators

Egypt Containers

Maritime Markets Outlook: Shipping’s game of snakes and ladders

The Suez shutdown exposed the fragility of global supply chains, but what about other black swan events that could potentially buoy or sink a market? This month’s market outlook offers a maritime edition of the classic board game snakes and ladders, where the team roll the dice and consider the long list of market ‘what ifs’ that will ultimately determine the fate of maritime markets more than any traditional notions of supply and demand forecasting

Maritime Markets Outlook Political Risk and Trade

Suez Canal seeks billion-dollar payout over closure

West of England holds its members covered without additional premiums for deviations round Cape of Good Hope, as lawyers unpack legal angles

International Egypt

Lloyd’s predicts continuing hardening for marine after best result in years

‘Significant pricing improvement has been seen across the portfolio, but most notably in the two largest lines of cargo and hull,’ insurance market says

London United Kingdom

Problem of leaking hatch covers adds to cargo loss claims

Due diligence, maintenance, regular checks and training will all help to improve cargo moisture damage, says loss prevention manager Captain Shajed Khan

Dry Bulk International

Lloyd’s of London feels impact of coronavirus

Performance improvement measures contributed to an improved underlying underwriting result

London Lloyds

After Ever Given, what now for marine insurance and ship finance?

‘This single case does not put our markets under pressure. The bigger picture is liability, and this is where it could get desperate. This is very bad news for the P&I clubs, that’s for sure,’ argues IUMI secretary-general

Egypt Containers

Fitch warns Suez Canal blockage is ‘a large loss event’ for reinsurers

Payout will further tighten pricing, but not impact credit profiles

Egypt Insurance

Marine insurers brace for major Suez claims

Damages, fines and compensation for the Suez Canal Authority set to be the largest items on what is looking like a big bill

Egypt Insurance
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