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Latest Handbook on Loss of Hire Insurance issued

Norwegian Hull Club published a new version of the Handbook on Loss of Hire Insurance, providing explanations to the Nordic loss of hire conditions. The term "loss of hire insurance" suggests that the assured is insured in general for any incident that causes one or more of his vessels to be demobilised so as to be deprived of income., but the insurance has never been that comprehensive.

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Cefor: Fires onboard continue to keep insurers busy

The Nordic Association of Marine Insurers ( Cefor) issued an annual report to provide an overview of the marine insurance market during 2015. The report includes statistics with a focus on vessels built in Asia and reveals the ocean hull trends. Last year, Cefor reported that costly fires and explosions even rose slightly concluding that ''fires are few in number, very costly, and continue to keep insurers busy''

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