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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

Counterparty scrutiny spikes as supply chain risks rise

Counterparty risks across the entire supply chain have increased as the liquidity crunch caused by the pandemic presents strong headwinds globally for shipping. Experts warn that the industry will be increasingly subject to forensic probes into corporate governance and financial stability as a result

Political Risk and Trade Insurance

P&I pool claims hit record $300m at halfway mark

Ratings agency predicts rate hikes at most clubs, as mutuals feel double whammy squeeze from string of big casualties and coronavirus pandemic

International Insurance

Complex reefer supply chain ‘suffers from miscommunication’

Cargo claims for losses in the temperature-controlled supply chain are increasing. The majority of the incidents could be remedied by better communication between stakeholders as cargoes change hands

International Containers

Steamship Mutual levies 5% general rate hike

‘International Group Pool claims are notably higher than in any previous year after six months, and the club’s projected contributions are higher than predicted,’ says P&I club

International Insurance

DNK to return entire decade’s premiums

Move designed to boost cashflow in coronavirus pandemic has evidently been made possible by the level of DNK’s solvency capital, which has reached $881m

International Norway

Skuld head predicts club consolidation in next five years

Ståle Hansen sees fewer but bigger clubs emerging, with his own marine mutual open for dialogue with peers. `There doesn't need to be 13 clubs, ' he says in an interview

International Norway

Socially responsible owners can expect cheaper pricing for compliance

‘So far we’ve only seen small pricing adjustments, although these will probably become more significant as competition in this space increases. But small adjustments provide significant incentives for many borrowers,’ says law firm partner

International Insurance

Suez collision case ‘shouldn’t have come to court’

Trial allowing witness to give evidence remotely from ship at sea sets important precedent, lawyers argue, although it is unclear whether rules will revert to mandating appearance in person once the coronavirus crisis lifts

International Egypt

Oneglobal's SSL Endeavour registers at Lloyd’s

Registration enables the Cyprus team to conduct open market business with Lloyd’s underwriters and to place delegated underwriting authority business on behalf of approved cover holders within the Lloyd’s market

Cyprus Greece

Shipping, hackers and the law

With cyber crime against the shipping industry back in the spotlight, law firms and insurance companies with advice on extortion, data protection and malware attacks are in demand

International Law

Dishonesty in collision case evidence now increasingly harder, says QC

‘While the VDR data makes it easier to say what went on, whatever anybody says, it remains critical to get people on board who understand ships and navigation. Otherwise the crew will try to pull a fast one,’ James Turner claims

International Casualty

Gulf of Mexico battening down ahead of Hurricane Delta

Ports along the US Gulf Coast remained open as of Tuesday evening, but the US Coast Guard is scheduled to hold a briefing on Wednesday at Coast Guard Sector New Orleans to discuss preparations for Hurricane Delta. The National Hurricane Centre also warned of the ‘increasing likelihood’ of life-threatening storm surge and dangerous hurricane-force winds as the storm was upgraded from a Category 3 to a Category 4 hurricane, especially along the coasts of Louisiana and Mississippi, where there are several liquefied natural gas export facilities 

US States Mexico
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