‘Universal rejection’ of move to ditch LOF included dire warnings from across the marine insurance spectrum
‘We’re very clear of our objective, it’s to make a return for the mutual membership. We’re not here to sustain unsustainable hull rates, we want it to make a profit,’ says underwriting director Nick Wolfe
The top five rankings were unchanged from the previous year, despite the pandemic-induced drop in global trade and business disruption in 2020, the Baltic Exchange said
‘At the moment, we are not quite there yet, but there are areas of difference, and we have clients for whom we are keeping a watching eye on the UK position,’ says HFW partner
P&I sector expected to opt for third year of high single-digit percentage point rate hikes as marine mutuals continue to clock up hefty deficits
The Ever Given is leaving the Suez Canal after its owners, insurers and the Suez Canal Authority signed a deal for its release after a lengthy court row over compensation for the salvage costs
The National Weather Service forecast Elsa would make landfall along the northwest Florida Gulf coast within hours before moving across the southeastern US, bringing heavy rain across Georgia and the Carolinas
‘The only reason (P&I clubs) didn’t pay ransom in Somalia is because it was a property risk,’ says HFW partner
The key to dealing with hacking is to pick up the problem as early as possible, before any losses are manifested and to mitigate the impact of the breach
The current year has seen some major claims, not least Ever Given, but the secular trend towards better safety overall continues
Profit down despite increased turnover, as company commits to growth through M&A
A cyber insurance study finds the industry is failing to spur companies to improve their cyber security. Data sharing is poor and high opportunity costs mean cyber insurers are disinclined to cover shipping firms
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