• North P&I Club publishes briefing paper...

    North P&I Club has released a new briefing paper exploring the insurance implications when solid cargoes behave like fluids and presenting typical responses to claims arising from cases of liquefaction.

  • Condition surveys – More than just a binary...

    P&I condition surveys could be misconstrued in some instances as baggage which is part of being a member of an International Group club. Their value may be overlooked and condensed down to an outcome of a list of so-called ‘defects’ which will require to be rectified to the satisfaction of the association in question. Perhaps validating this perspective, the ability to perform such surveys is endorsed by the Rules of each association and into the International Group’s too for that matter.

  • Poseidon principles for marine insurance


    The Poseidon Principles for Marine Insurance (the “Principles”) were officially launched in December 2021, initially supported by Swiss Re, Gard, Hellenic Hull Management, SCOR, Victor International and Norwegian Hull Club. In March 2022, Fidelis Insurance became the first company from the London market to join the group. In May 2022, Navium Marine and AXA XL signed up to the Principles, taking the total number of full members to nine.

  • P&I premiums to continue rising, adding to...

    Record pool claims and the unprecedented impact of unforeseen events such as the Covid-19 pandemic have forced P&I Clubs to further harden their rates over the recent 2022/23 renewal round, following sharp rises last year. And Drewry anticipates more hardening in P&I premiums over the near term, which will add to ship operating cost inflationary pressures, along with rising hull and machinery insurance costs (to be covered in a separate briefing).

  • Wellness at Sea

    Seafaring was already one of the most challenging jobs in the world, and now the pandemic has imposed huge levels of stress onto the maritime industry and the seafarers who keep it going.

  • Hyundai shipbuilding group’s holding company test...

    Korea Shipbuilding & Offshore Engineering, the holding company of Hyundai shipbuilding group, test operated autonomous passenger ships in a virtual space using digital twin technology. Various functions such as high-speed sailing and docking were demonstrated using the virtual clone of an actual ship that is currently being built.


  • Standard Club Asia steps up services in the...

    Standard Club Asia is celebrating its 25th year in Singapore in 2022. An offshoot of the Standard Club, it was the first protection and indemnity mutual to pick the Lion City as its regional head office for the Asia-Pacific region.



Hannover Re sees marine reinsurance premiums fall

German reinsurer Hannover Re reported that gross written premiums (GWP) for 2016 in marine within the p&c reinsurance sector declined to €277m, from €297m the previous year, equal to just over 10% of the €2.65bn (2015; €2.92bn) specialty lines book as a whole. Hannover Re’s total GWP was €11.92bn, down from €14.14bn in 2015.


New Maritime law fails to excite re-insurance firms

Reinsurance companies say they have little to smile about in the wake of the new marine insurance law. This is because the law, contained in Section 20 of the Insurance Act that makes it mandatory for local cargo importers to insure their goods with local insurance companies, has no provision compelling firms to re-insure marine cargo with local reinsurance companies.