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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

Insurers among staunchest opponents of closing Lloyd’s salvage branch

‘Universal rejection’ of move to ditch LOF included dire warnings from across the marine insurance spectrum

Europe Insurance

The British P&I club writing hull and machinery

‘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

International United Kingdom

Singapore leads international shipping centre rankings for eighth year

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

Asia Pacific International

UK sanctions divergence may be headache for marine insurers

‘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

International Belarus

UK clubs join ranks of marine mutual loss-makers

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

International Insurance

Ever Given begins exiting Suez Canal after compensation deal

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

Egypt Casualty

Florida ports closed ahead of tropical storm

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

United States US States

Marine insurers failing to reimburse ransom payments

‘The only reason (P&I clubs) didn’t pay ransom in Somalia is because it was a property risk,’ says HFW partner

Nigeria Insurance

One ship is hacked every day on average

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

International Insurance

Marine insurance outlook in three words — more expensive still

The current year has seen some major claims, not least Ever Given, but the secular trend towards better safety overall continues

Mid-Year outlook Insurance

Wynn-Williams steps down as chairman of Thomas Miller

Profit down despite increased turnover, as company commits to growth through M&A

International Insurance

Cyber insurance failing to improve security

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

International Specialty
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