• Singapore Shipping Association to increase focus...

    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.

  • 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.



ACORD Solutions Group, accounting giant EY, technology giant Microsoft and the Maersk, the world’s largest shipping company have combined to launch the world’s first marine insurance blockchain platform. EY said that the distributed ledger will be used to capture information about shipments, risk and liability, and to help firms comply with insurance regulations. It will also ensure transparency across an interconnected network of clients, brokers, insurers and other third parties.


Maersk and Microsoft Tested a Blockchain for Shipping Insurance

When shipping goods from A to B, any number of things can go wrong: cargo gets damaged, a congested port delays docking, a storm throws a vessel off course, pirates raid a ship. So shippers buy insurance through a complex jumble of brokers and underwriters to manage the risk to their freight.