Marine Insurance
Marine insurance is experiencing a period of rapid change, with a prolonged struggle to deliver underwriting profit forcing companies to reevaluate their proposition and the need to modernise. The class of business on which Lloyd’s was founded, the marine market is now navigating through a transitional period as it embraces technological reform and looks to rebuild its profit margin against a challenging operational backdrop.
Clauses paramount nearly always favour owners: NorthStandard
Inclusion will extend range of defences available, marine giant’s head of claims argues, as issue back in news following recent High Court ruling
Norway to begin checking tanker insurance
Move follows Nordic neighbours Sweden, Denmark and Finland, and means most of the Baltic/North Sea route will now be subject to insurance checks
World’s biggest shipowner files for limitation on India spill payout
The Indian government is seeking $1bn compensation for the incident
Egypt urges marine underwriters to cut ‘elevated’ Red Sea premiums
The plea comes after a sharp fall in transits in wake of Houthi attacks
Geopolitics and fires test soft H&M market
Insurers face growing geopolitical and operational risks despite competitive conditions in the hull and machinery market, broker says
P&I rates expected to rise next renewals: Gallagher
Ample reserves provide P&I clubs with cushion
UK Club launches fixed premium cover for smaller craft
The move follows the integration of former Thomas Miller Speciality Marine unit into the UK Club
Amphitrite goes independent with share buy back
Arch will remain a long-term capacity provider, the MGA said
Crushing by cargo biggest cause of dockworker deaths
International Cargo Handling Coordination Association recommendations include retesting existing management controls for focus, completeness and robustness
QBE launches marine business in the Netherlands
QBE has been expanding in Europe for several years
Greek shipowner scores legal victory over Allianz
Delos has won its case against Allianz to clarify the meaning of both the American Hull Clauses and UK’s Insurance Act 2015
Japan Club boosted by S&P Global upgrade
Rating agency justifies change on back of stronger capital position
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