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.
Lloyd’s and Arch not on hook for Nord Stream blasts, Commercial Court rules
Decision has important implications for indirect causation in insurance clauses
Markel International promotes Smith in marine transportation restructure
Insurer brings together and marine and transportation classes within a single leadership structure
Gard urges shipowners to protect their interests in general average claims
General averages are typically complex and often lead to contentious technical arguments, while contributions are frequently challenged, particularly by cargo interests
Hormuz contract disputes shaping up as huge issue for marine insurance
Impact ‘potentially colossal’ as shipowners, charterers and underwriters jockey for their widely differing commercial interests to prevail
US court decisions could shake-up Hague Rules impact, warns Gard
Development could significantly reduce carriers’ limitation exposure
Ai Marine link-up with London P&I highlights growing interest in fixed-premium cover
Development is a further indicator that the dividing line between for-profit and not-for-profit P&I cover is steadily eroding
Marine insurance has returned to doldrum decades, BMS argues
Market has now entered a soft phase, wiping out seven years of progress in rates, terms and underwriting discipline
Marine insurance has passed its Middle East politics exam
Market’s performance probably worth a good 2:1
Rebranded London P&I unveils surplus despite second straight underwriting deficit
International Group affiliate books operating surplus of $21.2m for the policy year, but combined ration slides to 108%
Tiernan ‘chewed out’ by Washington over Strait of Hormuz
The Lloyd’s market was accused by the US of ‘not stepping up to the plate’ over war risk cover, chief executive reveals
50% jump in bunker claims since Hormuz crisis, Gard confirms
Contaminated fuel damages engines and is disabling vessels, as claims surge amid Middle East crisis, reports marine insurance giant
Middle East war will mean spike in machinery damage claims, Allianz warns
Seafarer abandonment up for sixth year in succession, as more fires, higher general average claims and ageing world fleet add to litany of headaches, analysis finds
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