Insurance

  • 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.
     

  • Economic recovery: Expert urges FG to focus on...

    As the economic recession takes toll on Nigerians, the Executive Vice Chairman of Sifax Group, Dr. Taiwo Afolabi, has called on the Federal Government to redirect its focus to the maritime industry as a panacea to getting out of the current economic situation.
     

  • That sinking feeling: Why the bankruptcy of...

    As South Korea’s Hanjin Shipping Co. sank into bankruptcy, the global transport industry has been thrown into disarray. The immediate effects have rankled U.S. retailers, which are waiting for their holiday season merchandise, as well as the many exporters anticipating higher shipping fees.

  • IRISL SIGNS SHIPPING INSURANCE DEAL

    The Islamic Republic of Iran Shipping Lines (IRISL) and Norway’s Skuld P&I marine insurance company have signed a memorandum of understanding (MOU) relating to shipping insurance, Iranian news agencies have reported.

  • IRISL SIGNS SHIPPING INSURANCE DEAL

    The Islamic Republic of Iran Shipping Lines (IRISL) and Norway’s Skuld P&I marine insurance company have signed a memorandum of understanding (MOU) relating to shipping insurance, Iranian news agencies have reported.

  • NAICOM moves to build local capacity for oil and...

    To enforce local content policy on oil and gas and ensure that capacity is built in the Nigerian market, industry regulator, the National Insurance Commission (NAICOM) is embarking on strategies to ensure that all underwriting companies operating in the country are given opportunity for participation.

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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.

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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”.

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