Marine
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Shipowners to face average premium increases of 7.5% in 2014
Shipowners will face average premium increases of around 7.5% next year as P&I Clubs attempt to make up for declining…
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IUMI warns insurers against commoditisation of marine risk
Marine insurers at IUMI's annual conference in London have been warned not to move towards any commoditisation of marine risk…
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Marine and aviation markets changing shape as surplus capacity persists
As worldwide travel continues to rise, the complexity of transportation risks is increasing and the structure of marine and airline…
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Most port accidents avoidable finds TT Club research
Research from TT Club shows that the majority of port accidents result from operational error and are therefore avoidable through…
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Corporate round-up
Beazley strengthens marine team, Towers Watson makes crisis management broking appointments and ACE appoints Gordon Knox as Casualty Manager, Scotland.
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Marsh targets German marine business
Insurance broker Marsh is aiming to increase its marine business in Germany and is targeting ship owners and KG companies.
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Corporate round-up
Gard releases new container cover, Socrates Coudounaris to join IRM board as deputy chairman departs and Lockton appoints Business Development…
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IUMI adds to customer pressure to provide more risk information
In what appears to be another example of rising insurer demand for risk information from customers, the International Union of…
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Corporate round-up
ACE launches energy insurance syndicate at Lloyd's, AIG appoints new president and CEO of its Aerospace division and Hyperion takes…
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IUMI concern over lack of Concordia report and fears lessons not being learnt
The International Union of Marine Insurance (IUMI) President, Ole Wikborg, is concerned that Italian authorities are yet to publish an…
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Marine market suffers again in 2012 but abundant capacity means buyers set fair
The marine market suffered a difficult year in 2012 and for the seventeenth year in a row hull and machinery…
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First armed private convoy system launched in 220 years
A new marine convoy escort service has been launched that is designed to help protect the assets of ship operators…
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Corporate round-up
Catlin introduces new CBRN terrorist cover, ProSight Specialty appoints Mark Hewett as Chairman and Argo makes general liability appointment.
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Piracy drops to five year low as Somali threat recedes
In good news for ship owners, their crews and the wider business community, worldwide piracy fell to a five-year low…
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Ship safety continues upward trend but potential troubles ahead
The 106 ships lost at sea last year continued the long-term upward trend in ship safety with the figure 27%…
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Corporate round-up
Willis launches WillisCaptus to support risk retention, Chubb names new European Casualty Claims Manager, Gard subsidiary launches facility to cover…
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Gard’s 5% P&I premium increase for 2013 looks likely trend
The 5% general increase for cover in 2013 announced this week by P&I club Gard appears a likely trend following…
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Failure to agree global law on mandatory freight verification but deal not dead
The International Maritime Organisations (IMO) failed to finalise a new global law governing mandatory verification of freight container weights last…
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Zurich to push ahead with telematics in German motor fleets as costs soar
Zurich intends to roll out the use of telematics to better assess and improve motor fleet risk at large German…
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IUMI tells marine underwriters to get tough on cover for sanctioned territories
Growing concern over marine cover for areas of the world where trade sanctions have been put in place, such as…