Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Lloyd’s insurer Neon, which is part of The Great American Insurance Group, launched a new marine and offshore construction consortium. The consortium went live in February and aims to provide bespoke insurance coverage to shipyard clients. The consortium is underwritten by Mireille Dolonen and offers $70m capacity for shipyard construction and $55m for rig construction. Neon leads the consortium and…

Cost of P&I insurance to fall as competition mounts say rating agencies

Cost of P&I insurance to fall as competition mounts say rating agencies

Cost of P&I insurance to fall as competition mounts say rating agencies

Rating agencies predict that the cost of protection and indemnity (P&I) cover will come down as clubs face pressure from hard-up ship owners and react to benign losses. In recent weeks, several P&I clubs announced the results of P&I renewals in February. They were marked by flat rates and risk selection. However, AM Best and Standard & Poor’s (S&P) have…

London market’s electronic systems begin accepting claims and marine covers

London market’s electronic systems begin accepting claims and marine covers

London market’s electronic systems begin accepting claims and marine covers

The London Market Group’s (LMG) online XIS Bureau is now accepting claims from brokers, and its electronic placing platform PPL has been extended to cover marine insurance. The XIS Bureau opened to premiums last year and the LMG said the focus is now on ensuring London market players adopt the new system. Shirine Khoury-Haq, sponsor of the London market’s Target…

UK P&I Club’s Nichol joins Greece team

UK P&I Club’s Nichol joins Greece team

UK P&I Club’s Nichol joins Greece team

The UK P&I Club has promoted David Nichol as regional loss prevention executive for Greece, from his current role as risk assessor. In his new role, Mr Nichol will work with P&I club members in Greece to improve loss prevention. His focus will include training and support for local claims team and risk assessments. Mr Nichol joined UK P&I Club…

Maritime kidnaps rise to 10-year high

Maritime kidnaps rise to 10-year high

Maritime kidnaps rise to 10-year high

Global piracy levels fell to an 18-year low in 2016, but figures from the ICC International Maritime Bureau (IMB) reveal a threefold increase in the number of crew kidnapped at sea with figures reaching a 10-year high. Publishing its annual piracy report, the IMB named west Africa and the Sulu Seas route between Malaysia and the Philippines as a key…

Barbican enters UK marine market

Barbican enters UK marine market

Barbican enters UK marine market

Barbican Insurance Group has entered the UK marine market with the launch of a new division headed up by marine underwriter Sarah Joiner. Under the wing of its UK insurance arm Barbican Protect, Barbican will target the UK SME market insuring marine cargo, hauliers, freight forwarders liability and freight forwarders online cargo. Ms Joiner previously worked at Argosy Underwriting Agency…

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