Latest Ocean Marine Headlines
All the headlines from our Ocean Marine Topic Page, ordered by recency.
Western Insurers Slowly Re-Enter Deals with Iran – a Market Valued at $9B
Oct 21 2016 // Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions 10 months on from the lifting of international...
Sompo Canopius Launches U.S. Ocean Marine Unit; Hires XL Catlin’s Ellis to Head
Aug 31 2016 // Sompo Canopius AG is diving into the U.S. ocean marine business. The global specialty insurer and reinsurer, which is wholly-owned by Sompo Japan Nipponkoa Insurance Inc., calls this a “significant expansion”...
Allianz Launches Inland Marine Cargo Insurance Product
Aug 30 2016 // Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has launched Transportation Block 2020, a fully integrated and comprehensive inland marine cargo insurance product,...
ArgoGlobal Buys Renewal Rights to Allied World’s Marine Hull Business in Asia
Aug 15 2016 // ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced it has acquired the renewal rights for Allied World’s marine hull business in Asia. The transaction completed on August 5. “I am very...
Maritime Program Group Launches Ocean Marine Cargo Facility
Aug 2 2016 // Maritime Program Group (MPG) has expanded their marine programs with the launch of a new Ocean Marine Cargo facility. MPG is now underwriting Ocean Cargo with North American Specialty, A+ admitted security by Swiss Re....
Skuld Lloyd’s Syndicate 1897 Appoints 2 Marine Hull Underwriters
Apr 12 2016 // Skuld, the Oslo, Norway-based marine insurance provider, announced the recruitment of Paul Fry and Sarah Wilson to Skuld’s Lloyd’s Syndicate 1897, the specialist marine and energy syndicate. Fry joins as deputy...
Csorba Joins Great American Insurance to Succeed Rowney as Ocean Marine Leader
Apr 8 2016 // Great American Insurance Group has hired F. Michael Csorba as divisional president within the Property and Casualty Group’s Ocean Marine division. Csorba is succeeding John Rowney, who is retiring after nearly 28...
Unknown Amount of Oil from Leaking Cargo Ship in Southern California Harbor
Mar 15 2016 // Authorities say a large cargo ship has leaked an unknown amount of oil in the Los Angeles Harbor. The Coast Guard says the leak was reported Sunday evening, where an oily sheen was visible near the vessel Istra...
Chubb Appoints Marine Insurance Executive Team for Asia Pacific Region
Feb 29 2016 // Chubb has appointed for the Asia Pacific region Christine Aldrich as its marine cargo underwriting manager and Callum Clark as marine hull underwriting manager. Both Aldrich and Clark will report to Anthony O’Brien,...
Coast Guard Probe Into Sinking of El Faro Cargo Ship Gets Underway
Feb 16 2016 // The U.S. Coast Guard begins hearings on Tuesday to investigate whether misconduct or negligence were factors in the sinking of the cargo ship El Faro during a hurricane last fall, an accident that left the vessel’s...
El Faro Cargo Ship Owner Settles Death Claims with Sailors’ Families
Jan 27 2016 // The families of 10 sailors aboard a cargo ship that sank in a hurricane last year have settled claims with the vessel’s owner. The Florida Times-Union reports that each of the families will receive $500,000 each in...
Brown & Brown Acquires Ocean Marine Insurance Agency & Affiliates in R.I.
Dec 18 2015 // Brown & Brown Inc. announced that its subsidiary Brown & Brown Insurance Agency of Virginia Inc. has acquired certain assets of Ocean Marine Insurance Agency Inc., Ocean Marine Insurance Agency of Massachusetts...
Hiscox Appoints Golder to Head Marine Cargo Business Re-Entry
Dec 17 2015 // Hiscox London Market has appointed Richard Golder as Marine Cargo Line Underwriter, marking the insurer’s re-entry into the marine cargo business. Golder will be supported by Jack Bryan who takes on the role of...
Claims Deadline for Sunken Cargo Ship El Faro Set
Nov 13 2015 // A federal judge has set a deadline for damage claims filed by relatives of crewmembers who were lost aboard a cargo ship that sank last month in Hurricane Joaquin. U.S. District Court Judge Harvey Schlesinger set Dec. 21...
SpaceX Cargo Loss is Government’s, but Rocket Costs and Backlog Uncertain
Jun 29 2015 // SpaceX’s Falcon 9 rocket en route to the International Space Station erupted in flames on Sunday moments after its launch, delivering a potential business interruption blow to the so-far highly successful private...
Fidelis Group Holdings Launches Master Port Risk Program for Maritime Industry
Jun 11 2015 // Fidelis Group Holdings, LLC (FGH) with its subsidiary company Continental Underwriters, Ltd. (CUL), have launched a new Master Port Risk Program. According to H. Elder Brown, Jr., president and chief executive officer the...
Iran Flexes Military Muscle in Persian Gulf, Amid Rising Tensions
May 15 2015 // With tensions over its roles in Yemen, Iraq and Syria already high, Iran is flexing its military muscle in the Persian Gulf. For the third time in as many weeks, Islamic Revolutionary Guard Corps patrol boats have fired at...
Fischer, Prout to Lead Fidelis Group Holdings’ New Ocean Cargo Unit
Jan 14 2015 // Fidelis Group Holdings LLC (FGH) and its subsidiary, Continental Underwriters Ltd., a have formed an ocean cargo division and named Doug Fischer and Crystal Prout as managing directors of the unit. The new ocean cargo...
Hackers Target Global Tanker, Container Shipping Fleet
Apr 24 2014 // The next hacker playground: the open seas – and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. In this internet age, as more devices are hooked up online, so they...
Clarkson and Kerr Join Miller’s Marine Hull Team
Mar 18 2014 // UK broker Miller Insurance Services announced that it has bolstered its marine hull business production, broking and account handling capabilities with the appointments of Heather Clarkson and Rick Kerr. Both of the new...
