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 …
A U.S.-based insurer to the global shipping industry said it got government authorization to cover non-American companies transporting oil from Iran, potentially helping the Persian Gulf country to revive exports of crude and petroleum products following the lifting of sanctions …
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 …
Chubb Global Markets, the London-based wholesale insurance division of Chubb, announced the appointment of the leaders of its marine team, with immediate effect. Mark Edmondson, formerly head of marine for legacy Chubb Syndicate 1882, has been appointed as head of …
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 …
Reinsurance rates in the marine sector continued to fall at the start of the year, in spite of the huge cost of explosions at China’s Tianjin port last August, reinsurance broker Guy Carpenter said on Thursday. Rising competition to offer …
London-based RSA Insurance has revamped its marine management team “to better meet the challenges and opportunities in today’s marine insurance market.” In three newly created roles: Rob Cook has been appointed London market marine director, David Taylorhas been appointed Europe …
Bermuda-based Ironshore Inc. has been named Official Insurer for Oracle Team USA for the 35th America’s Cup. The announcement said the company will “provide comprehensive insurance coverage for the team, from the Louis Vuitton America’s Cup World Series Bermuda regatta, …
Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country …
The hijacked oil tanker Orkim Harmony has been released by pirates, who fled in the ship’s rescue boat, Malaysian navy and maritime officials said on Friday. The Orkim Harmony, hijacked on June 11 off the Malaysian coast by pirates reportedly …
