Tag: marine insurance

Edward X. McNamara, President & CEO of Armada Risk Partners, a Cleveland-based insurance broker, notes that, in the post-covid era, the insurance industry is more complex and risk averse than ever. Armada insures ports worldwide from an increasing number of risks such as extreme weather, ship collisions with port infrastructure and cyber attack.

Gard Club has recently published an updated Guide on Stowaways to address the issue and inform interested parties of ways to handle stowaway incidents onboard.

The Salvage Committee of the International Group (IGP&I) has drafted new Guidelines in collaboration with the Joint Marine Claims Committee (JMCC) to help improve cooperation in the handling of shipping casualties.

North and Standard Club have received all the required formal approvals to finalise their merger and establish NorthStandard on 20 February 2023.

Ship reinsurers have faced huge losses, leading the insurers of ships to cancel covering war risks in Russia, Belarus and Ukraine from January 1, 2023.

Daniel A. Tadros, American P&I Club, outlines the importance of the shipping industry better understanding the underlying causes of a phenomenon that cannot be measured or quantified.

As a marine insurer, The Swedish Club has been supporting shipping for 150 years. Whilst many in our industry are familiar with the support P&I clubs offer members, they may not be so aware of the package of loss prevention advice and support that the Club makes available to non-members free of charge.

Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan's energy imports such as liquefied natural gas (LNG), according to international media.

After significant engagement between the IG Club and the Government of Turkey, an agreement has been reached allowing ships carrying crude oil cargoes to continue their voyages through Turkish-controlled waters.

Turkey issued a notice on 16 November, requiring all ships transiting or entering Turkish waters from 1 December 2022 (extended to 2 December 2022), to provide letters of confirmation from the owner’s P&I Club attesting that cover will remain in place under any circumstances throughout the duration of the transit or the time the ship is in Turkish waters or the time it is in a port or terminal.