Insurance

  • Analysts expect Buhari to retain N1.5trn lost...

    Worried by the continuous domination of the Nigerian generated seaborne trade by foreign vessel owners, which results to huge capital flight estimated at N1.5 trillion annually, maritime industry analysts are pushing for favourable policy direction from the Muhammadu Buhari-led administration that would help in growing local participation in the nation’s shipping business.

     

  • TT Club Calls for ‘Utmost Good Faith’ in the...

    As a leading provider of liability, property and cargo insurance to the global freight industry, TT Club has long championed a variety of measures designed to increase safety throughout the container supply chain. In Rotterdam last week, Kevin King, the Club’s Regional Director EMEA took the opportunity to address an audience of container operators, port and terminal executives and logistics professionals to highlight the crucial importance of an under lying principle of best practice, which would improve the industry’s safety record.

  • Hefty fees await non-complying consignors

    Consignors and any company involved in the transport of cargo, whether general freight, refrigerated or dangerous goods by road, rail or water, in any form of container, trailer, tanker or rail car, will be required by law to implement and adhere to the new IMO/ILO/UNECE Code of Practice for Packing of Cargo Transport Units (CTU.)

  • Fidelis Group Holdings, LLC Launches Master Port...

    Fidelis Group Holdings, LLC (FGH) with its subsidiary company Continental Underwriters, Ltd. (CUL), a National Marine Insurance coverage and service leader, announced today the launch of its new Master Port Risk Program. 

  • Dubai Aims for Top Five Position for Freight...

    According to a report fromMenon, taken from a poll amongst about 1,600 shipping professionals and logistics experts from 33 countries, Dubai will rank in seventh place amongst the leading maritime centres in the world in the next five years.

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Tianjin Blast Could Be Largest Marine Insurance Loss Ever

Claims related to the massive explosion at the port of Tianjin, China may grow to as much as $6 billion, says the International Union of Marine Insurance (IUMI). More than half of the claims reportedly fall within marine insurance or reinsurance lines – potentially making it the largest single marine disaster (by claim value) in history, surpassing Hurricane Sandy.

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Energy producers "have struggled" to get insurance covering Gulf of Mexico windstorm: Willis Towers Watson

Eight years after Hurricane Ike damaged most homes in Galveston, Texas, the insurance market’s capacity to cover windstorm for energy firms in the Gulf of Mexico is less than 4% of the actual exposure, while the “vast majority of energy companies remain inadequately protected” against cyber risk, Willis Towers Watson plc suggested in a recent report.

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