Insurance

  • North and Standard Club members approve creation...

    North and Standard Club have received approval to merge the organizations after separate member meetings resoundingly back plans to create a market-leading global marine insurer and one of the largest providers of mutual cover in the maritime industries.

     

  • IACS adopts Unified Requirements on cyber safety

    The growing use and reliance on information technology, of data networks, transmissions and connectivity in the daily work within the marine and energy sectors increases exposure to cyber related risks. Ransomware attacks may result in economic loss or costs of rebuilding lost data. The consequential damages to hull, cargo and third-party liabilities from a cyber-attack on board a vessel or mobile offshore unit poses a different and more costly risk. The limited data on the frequency, severity of loss or probability of physical damage, is a challenge to underwriters.

     

  • Russia says it can bypass EU ban on insuring...

    Russia expects to get around the EU ban on insuring and financing seaborne deliveries of Russian oil to third countries by using state guarantees, Dmitry Medvedev, deputy chairman of the Russian security council said June 6, in a post on his official Telegram channel.

  • A changing role of insurers in bunker...

    In the first four months of 2022, several ships faced serious operational issues caused by contaminated HSFO bunkers stemmed in Singapore. The question we need to ask ourselves is, are we better positioned to respond to such issues today than in the past?

  • UK P&I Club announces William Beveridge as...

    The UK P&I Club, one of the leading providers of P&I insurance and other services to the international shipping community, has appointed William Beveridge as its new Chief Underwriting Officer. He joins the UK Club on completion of his current employment obligations.

  • North and Standard Club members approve creation...

    Approval is given to merging North and Standard Club after separate member meetings resoundingly back plans to create a market-leading global marine insurer and one of the largest providers of mutual cover in the maritime industries.

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Smooth sailing on the high seas

As one of Asia’s premier financial centre, Hong Kong offers shipowners and maritime industry service providers a wide range of key financial and insurance options, facilitating the continued development of the industry

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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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