Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the Latin American country. U.S. sanctions have …
Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing’s claims across large swathes of the South China Sea, fueling geopolitical tensions in the vital waterway. A tribunal in The Hague, Netherlands, found …
Lloyd’s of London announced that a set of common core data requirements for cyber risks has been agreed by collaborating with modeling firms AIR Worldwide and RMS, along with RMS’ partner, the Cambridge Centre for Risk Studies. Both AIR and …
Neil Maidment, Beazley’s chief underwriting officer, has been elected to the Council of Lloyd’s for a three year term, beginning on Feb. 1. Maidment has worked in the Lloyd’s market for 31 years, including 25 years at Beazley. In 2011, …
Lloyd’s international casualty reinsurance underwriters are running the risk of repeating the same mistakes that have placed the market in difficulty in the past, according to a new straw poll of Lloyd’s reinsurance specialists. The survey conducted by the Lloyd’s …
Ken Curtis has been appointed as director of finance and risk for the London-based Lloyd’s Market Association, which represents the interests of the Lloyd’s underwriting community. He formerly was group chief financial officer of Chaucer Holdings plc and managing director …
Geoff White, underwriting manager for Cyber, Technology and Media at Barbican Insurance Group, has been elected chairman of the Lloyd’s Market Association’s (LMA) newly created Cyber Business Panel. White was elected by the members of the panel on June 5. …
The Lloyd’s Market Association (LMA) has announced six newly elected board members. They are: Andrew Brooks, CEO, Ascot Underwriting Stephen Eccles, active underwriter, Travelers Syndicate Management Richard Harries, CEO, Atrium Underwriters Andrew McMellin, chief executive – UK & Ireland, XL …
A pledge by world powers to ease ship insurance sanctions on some Iranian oil exports is likely to take months to come into effect due to complex law and regulation and to insurers’ unease over providing cover. A deal struck …
War and sanctions are taking an increasing toll on Syria’s vital sea-borne trade, with fewer vessels calling at its cargo ports as ship-owners shy away from the risks associated with a conflict now in its third year. The slowdown in …
