Insurance

  • Shipping losses continue to decline

    Large shipping losses have declined by 50 per cent over the past decade, largely driven by development of a more robust safety environment by ship-owners, a report said.

  • Amica Mutual Insurance Co. Raises Position in...

    Amica Mutual Insurance Co. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 121.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,350 shares of the oil and gas producer’s stock after buying an additional 58,909 shares during the period. Amica Mutual Insurance Co.’s holdings in Occidental Petroleum were worth $6,802,000 as of its most recent filing with the SEC.

  • Diana Shipping Inc. Announces an Addendum to the...

    Diana Shipping Inc. (NYSE:DSX) (the "Company"), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend and increase the time charter rate of the present time charter contract with Rio Tinto Shipping (Asia) Pte

  • The duty of procuring a superyacht's...

    A recent case in the US courts looked at whether a marine insurance broker owed a heightened duty to its client in procuring the superyacht's insurance policy. Jason P. Minkin and Jonathan A. Cipriani of BatesCarey LLP, Chicago, explain.

  • Marine insurers brace for new sulfur emission...

    Shipping companies will have to upgrade their vessels well in time to adhere to the upcoming global sulfur emission norms to avoid losing their classification and insurance cover, underwriters and insurers said recently.

  • ASEAN Fails To Address China, But Moves Closer To...

    As the 30th ASEAN Summit in Manila, Philippines came to a close, the primary questions regarding maritime security, terrorism, human trafficking ended with consensus, with one glaring omission. The word China does appear in any of the statements by either the Chairman’s final remarks of the conference, nor any remarks by the host, Philippine President Rodrigo Rao Duterte.

  • Metropolitan Life Insurance Co. NY Sells 887...

    Metropolitan Life Insurance Co. NY decreased its position in Natural Gas Services Group, Inc. (NYSE:NGS) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,307 shares of the oil and gas company’s stock after selling 887 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Natural Gas Services Group worth $299,000 at the end of the most recent reporting period.

  • A.M. Best Withdraws Credit Ratings of The...

    A.M. Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of The Shipowners’ Mutual Protection and Indemnity Association (Luxembourg) (the Club).

  • Oil spill protection needed

    THE ISSUE:
    A proposed law to hold oil storage facility owners accountable is again up for debate.
    THE STAKES:
    Requiring companies to be properly insured will protect people and property around the oil storage operations.

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Shipping losses continue to decline

Large shipping losses have declined by 50 per cent over the past decade, largely driven by development of a more robust safety environment by ship-owners, a report said.

English

Amica Mutual Insurance Co. Raises Position in Occidental Petroleum Co. (OXY)

Amica Mutual Insurance Co. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 121.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,350 shares of the oil and gas producer’s stock after buying an additional 58,909 shares during the period. Amica Mutual Insurance Co.’s holdings in Occidental Petroleum were worth $6,802,000 as of its most recent filing with the SEC.

English

The duty of procuring a superyacht's insurance policy

A recent case in the US courts looked at whether a marine insurance broker owed a heightened duty to its client in procuring the superyacht's insurance policy. Jason P. Minkin and Jonathan A. Cipriani of BatesCarey LLP, Chicago, explain.

English

ASEAN Fails To Address China, But Moves Closer To Addressing Piracy On South China Sea

As the 30th ASEAN Summit in Manila, Philippines came to a close, the primary questions regarding maritime security, terrorism, human trafficking ended with consensus, with one glaring omission. The word China does appear in any of the statements by either the Chairman’s final remarks of the conference, nor any remarks by the host, Philippine President Rodrigo Rao Duterte.

English

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