Shipping companies grappling with the threat of cyber attacks on vessels are finding insurance policies often fall short, officials involved in both industries say, a risk that could feed through into global prices. Digitalization means electricity networks, emergency services, industry …
Beazley, a provider of specialist marine insurance, is expanding its marine offerings with the acquisition of London-based subsea specialist The Leviathan Facility. Beazley will acquire the majority of their existing book and renewal rights. In addition, principal Leviathan underwriters, Simon …
The Arctic is thawing even faster than lawmakers can formulate new rules to prevent the environmental threat of heavy fuel oil pollution from ships plying an increasingly popular trade route. Average Arctic temperatures are rising twice as fast as elsewhere …
The Norwegian Hull Club, one of the world’s largest pure marine insurers, is planning to “plug into London” with the opening of its first office outside Norway. The club’s board confirmed this week that it intends to open a branch …
Underwriting discipline in the marine protection and indemnity (P&I) sector will be tested over the February 2016 renewal period due to market and competitive forces buffeting the sector, according to report published by A.M. Best. Free reserves are at record …
DUAL, the underwriting arm of the Hyperion Insurance Group*, has announced the continued expansion of its global marine and energy practice following the launch of a marine offering at DUAL Australia Pty Ltd. DUAL Australia will now offer a suite …
Allied World Europe and Airbus have entered into a relationship whereby Allied World will offer complimentary aircraft hull insurance to airlines that purchase Airbus’ Runways Overrun Prevention System (ROPS). ROPS is an innovative, performance-based alerting system that assists in preventing …
Getting out on the open sea, wind in your hair, enjoying the ride with your family and friends. Then there’s the boat payments, storage fees, fuel, maintenance and repair — these costs can quickly sink the dream of boat ownership. …
Standing in front of a crowd of several hundred members of the insurance industry, San Diego Mayor Jerry Sanders must have hit the nail on the head during a speech to the industry on Monday, because agreeable nods could be …
The capsizing of the Costa Concordia could not have come at a worse time for the cruise industry — right at the start of the peak booking season. Even if passengers aren’t scared away, the accident will cost hundreds of …
