In its latest article in the Navigating Mutual P&I series, the Shipowners Club focuses on ‘overspill’, explaining how the International Group calculate overspill limits and provides an overview of the collective overspill reinsurance structure.
Read moreDetailsNorwegian 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.
Read moreDetailsEntering in to a Protection and Indemnity (P&I) relationship with a mutual insurer of marine liabilities represents a partnership. A mutual P&I Club works with operators via their brokers, protecting them in relation to their operational liabilities and indemnifying them for their losses.
Read moreDetailsNorth P&I Club announced that has published a new edition of its guide book on letters of indemnity, in order to explain how to avoid disputes and problems arising from the use of letters of indemnity, reflecting recent case law and current industry practice.
Read moreDetailsRoll-on-roll-off vessels and car carriers are twice as likely to catch fire as other ships and vehicle-deck fires are notoriously difficult to contain and put out. Therefore, the North P&I Club has published a new loss prevention briefing on how to prevent, detect and fight fires onboard such vessels.
Read moreDetailsThe 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''
Read moreDetailsThe UK Insurance Act 2015 will come into force on 12 August 2016
Read moreDetailsInsurance companies said the reduction may not result in reduced insurance cost
Read moreDetailsAccording to Aon, more than 190 maritime accidents caused significant financial losses to cargo owners
Read moreDetailsSpecialist marine insurance intermediary Seacurus has called for proper enforcement of PSC regulations in the lead-up to adoption of amendments to the MLC 2006
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