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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

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

Lockton acquires Norwegian marine broker

Norwegian insurance broker Edge GroupEdge Group has a 2% share of the global marine insurance market but has now been absorbed into a US entity

Europe Marine

Private equity takeover was factor in Standard’s go-it-alone move

Broker predictions of a 50% sector-wide hike in P&I rates between now and 2024 is probably overstated, marine mutual head believes, but big increases will be necessary to address rates erosion

Insurance International

Ignoring seafarer mental health could lead to legal claims

Greater emphasis needed on mental health impacts when determining casualty severity, says Qwest

International Crewing
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