Insurance

  • P&I Clubs Renew Coverage for Iranian Shipping

    Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions ten months on from the lifting of international sanctions.

  • Raising awareness to recruit the best people for...

    At the 19th Maritime HR & Crew Management Conference in London on 19-20 October, Commodore Barry Bryant CVO RN, Director General of the Seafarers UK charity, will update delegates on the exciting opportunity provided by the UK Maritime Growth Study (MGS) to promote maritime employment opportunities.
     

  • How boat insurance can protect vessel owners

    Whether you’re a first-time buyer or adding to a growing fleet, the excitement of purchasing a new or usedscreen-shot-2016-10-07-at-11-11-36-am boat can be a lot to take in. Long before you fork over a significant amount of your hard-earned money and sign on the dotted line, you’ve already made a half-dozen plans for the near future; fishing trips, weekends at anchor, time on the water with your friends and family, and waterskiing or wakeboarding are all on the horizon.

  • Insurance firms to chart marine cargo plan

    Insurance firms are set to meet this week after manufacturers raised concerns over their capacity to insure marine cargo. The Kenya Association of Manufacturers (KAM) last week questioned local firms’ capacity to offer the product ahead of the new law that compels exporters and importers to get local marine cargo cover by January next year. 

  • exploring the complexities of insurance with...

    Day workers are always a contentious point with regards to insurance. All too often, no employment contracts are signed and in the event of a claim, the process becomes complicated in trying to prove whether the owner is liable for the day worker's injuries or death. Further complications can arise depending on the flag state and the labour laws of the country where the accident happened. Some yacht managers and crew employers are managing this by making all day workers sign a simplified version of a crew employment contract.

  • Shippers raise the alarm on insurance law

    hippers are pushing for staggered implementation of a policy that requires importers to purchase marine insurance policy in Kenya amid concerns over the ability of local underwriters to cover high-profile sea risks.
     

  • IUMI details uncertain, challenging environment...

    The International Union of Marine Insurance (IUMI), unveiling its annual statistical report on the marine insurance market at a conference held in Genoa, announced global underwriting premiums for 2015 of $29.9bn. This is a 10.5% reduction on the 2014 figure.
     

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Seafarers’ insurance now mandatory

Seafarers will have better protection under mandatory insurance rules that took effect on Tuesday, which require ship owners to have compulsory insurance to cover abandonment of seafarers as well as claims for death or long-term disability.

English

Insurance order good for maritime industry

The Treasury’s directive that came into force on January 1 requiring all importers to procure marine insurance cover from Kenyan firms should be an entry point for the country to tap the largely unexploited maritime industry, also known as the “blue economy”.

English

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