Insurance

  • International Marine Survey Vessel Inspection and...

    International Marine Survey (IMS) provides independent marine surveys and inspection services for challenging offshore operations.

    The company offers a wide range of procedures such as condition monitoring, inspections, ultrasonic leak detection (ULD), ultrasonic testing (UST), and safety consultancy and reporting procedures.

  • Cargo Insurance Scheme Expanded to Protect...

    DHL Global Forwarding recently expanded its 'all-risks' Cargo Insurance service to Ghana, Kenya, Morocco and Mozambique. While DHL says it aims to handle every shipment with utmost care, in the freight and logistics industry accidents, ranging from theft and breakages to natural disasters, can't always be avoided. DHL has developed Cargo Insurance services to protect customers against damage or loss during transportation. With its latest expansion, DHL Cargo Insurance is now available for customers from all industries across 74 countries worldwide.

  • What marine insurers can learn from the RENOS...

    When assessing a constructive total loss of a ship, should the value of salvage services incurred prior to the issuance of a Notice of Abandonment be taken into account? Grant Pilkington offers advice in the context of a court decision in the RENOS engine room fire insurance claim and highlights its relevance for marine insurers in the UAE and Saudi Arabia.

  • As Arctic Ice Vanishes, New Shipping Routes Open

    As global warming melts sea ice across the Arctic, shipping routes once thought impossible — including directly over the North Pole — may open up by midcentury. But high costs may keep the new routes from being used right away.

  • Piracy spikes shipowners' demand for kidnap...

    There is a marked increase in shipowners opting for kidnap and ransom insurance across Southeast Asia and the Gulf of Aden region because of recent attacks on merchant vessels, executives involved in the deals in Europe and Asia said during the recent Sea Asia conference in Singapore.

  • Tokio Marine, NTT DATA successfully test...

    Tokio Marine & Nichido Fire Insurance, a property/casualty insurance subsidiary of Tokio Marine Holdings, and NTT DATA Corporation, a leading business and IT services provider, have successfully tested the first blockchain-based insurance policy for marine cargo insurance certificates, IBTimes UK reported.

  • Tokio Marine, NTT DATA successfully test...

    Tokio Marine & Nichido Fire Insurance, a property/casualty insurance subsidiary of Tokio Marine Holdings, and NTT DATA Corporation, a leading business and IT services provider, have successfully tested the first blockchain-based insurance policy for marine cargo insurance certificates, IBTimes UK reported.

  • Hong Kong insurance sector looks to its future in...

    The Financial Services Development Council (the "Council") issued an important report, titled: "Turning Crisis into Opportunities: Hong Kong as an Insurance Hub with Development Focuses on Reinsurance, Marine and Captive" (the "Report"). The Report aims to promote business in the Hong Kong insurance market with closer cooperation with China, particularly under the One Belt, One Road initiative.

  • LOUISIANA FEDERAL COURT FINDS REMOVAL PROPER AS...

    In this case, a Louisiana federal court denied a motion for remand of a former machinist’s asbestos-related claim, finding that an English insurer’s removal from state court was appropriate and that the dispute could relate to an underlying arbitration agreement contained in an insurance policy.

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Singapore Shipping Association to increase focus on marine insurance

A leader of the Singapore Shipping Association (SSA), an organisation composed of the country’s shipowners and members of allied industries, said that the group will focus its efforts on improving the field of marine insurance to better protect its members and further Singapore’s status as a global maritime hub.

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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.

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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.

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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.

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