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‘The decision, which was anticipated with trepidation in some circles, will in fact strengthen the commanding position and reputation of London arbitration, and of London maritime arbitration in particular’ — LMAA president Bruce Harrison
The court decision inHalliburton Company v Chubb Bermuda Insurance has major implications for the London maritime arbitration sector, say legal experts
Rate increases of at least 8% required for players to ‘look good’ next year, Munch Re Syndicate underwriting chief says
High-profile cyber attacks and the impending IMO 2021 requirement for shipping to get its digital house in order have sent shipowners searching for off-the-shelf solutions. But meeting the challenge is more complex, according to a recent industry discussion
Move puts A Bilbrough-managed club at the upper end of rises so far announced for the 2020-21 policy year
Given a spate of pool claims, reduced capacity at Lloyd’s and higher reinsurance costs, insureds will have to put their hands in their pockets next year
The majority of International Group clubs have now declared their hands and will be expecting higher premiums at the next renewal round
‘Going forward, the club will therefore continue to focus on aligning premium levels, on a case by case basis, across all classes in order to secure a balance in the marine portfolio,’ says Scandinavian insurer
The pandemic and subsequent economic crisis, as well as natural catastrophe losses, have added to the pressure on the market
‘Even those members operating without claims in recent years remain exposed to the unexpected large losses,’ International Group affiliate says in circular
AfA aims to set up a digital utility to facilitate data sharing and enable businesses to easily connect to the infrastructure. The pilot will start with efforts to develop two solutions to strengthen trade finance and to help container flow node decongestion
‘The main driver is a relatively limited number of large claims from the International Group pool,’ says head of Norwegian marine mutual
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