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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

West of England chief defends ‘robust and decisive’ rate hike

‘I don’t think we’ll be one of the smaller general increases, but my prediction is there will be other clubs in and around where we are,’ says marine mutual chief

International London

The Lloyd’s List Podcast: Should shipping be singing the GI blues?

On this week’s podcast, we are assessing the outlook for general increases, or GIs to those in the know, at the next P&I renewal round. The past two renewal rounds have seen most clubs ask for mid to high single-digit rises and early indications suggest we should brace for more, but significantly, a handful have explicitly rejected the notion of GIs altogether. We get the expert analysis from Mark Cracknell, head of cargo and marine at megabroker Marsh JLT Specialty, Stephen Hawke, managing director of Lockton’s P&I broker affiliate PL Ferrari and West of England’s chief executive Tom Bowsher.

Lloyd's List The Shipping Podcast Insurance

P&I club general increases ‘unnecessary,’ says Marsh

Cracknell brands GIs ‘an anachronism in the modern world’ that may result in more owners looking to switch club

International Casualty

London levies $75m in supplementary calls as West confirms 15% general increase

Lyras blames ‘particularly adverse trading conditions and underwriting deficits on its mutual P&I business for the last two policy years and a very high level of claims in the current year’ for London’s need for more cash from members

International Insurance

China on track to marine hull number one slot within a decade

Steady growth said to be built on domestic market, with some Chinese owners ready to pay higher prices on patriotic grounds

China London

Carriers have defence on bank claims where no bill of lading involved

‘If the buyer is borrowing funds from the issuing bank, then when the bills of lading pass through the banking chain, the issuing bank will not only hold them physically, but the bank will also have transferred to it a financial interest in the cargo and will have a right of suit,’ says Nicola Cox of West

International Insurance

Insurers face claims surge as transport sector recovers in China

As mega-ports and inland transportation routes speed up to meet global demand, the ongoing imposition of coronavirus restrictions is a major factor driving up the volume and cost of claims

Claims Management China

Greece & Cyprus 2021: Sustainability driver in hull insurance

American Hellenic Hull's upward trajectory has been acknowledged in various ways, not least by the election last year of chief executive Ilias Tsakiris to the prestigious Ocean Hull Committee of IUMI

Europe Cyprus

What 200 years of history reveals for Greece and Cyprus

Our Special Report takes a deep dive into how Greece and Cyprus reached their towering position in maritime trade, and what they must do to keep it

Europe Cyprus

West Fixed sees 40% jump in entered tonnage

Focus on small ships and inland craft of up to 10,000 gt — typically including tugs, barges, dredgers, ro-ros, fishing boats, and offshore units for oil or renewables operations — vindicated, according to club

International Insurance

Broker predicts pool payouts could hit $700m

‘The problem is that there is little the clubs can do about it. These large incidents are very random in nature and it is to a large extent pot luck which club suffers them,’ report maintains

International Insurance

Greece & Cyprus 2021: Aiming for togetherness as much as recognising the exceptional

After a year’s break when they went virtual, the Lloyd’s List Greek Shipping Awards are expected to make an in-person return as the world’s largest shipping industry awards event

Europe Greece
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