A ban on European Union insurers covering Iranian oil exports has forced ship owners to fall back on new, untested insurance providers, raising fears that governments may have to pay in the event of an oil spill. The July ban, …
London-based Miller Insurance Services LLP announced that it has named stock throughput, cargo and project cargo insurance broking specialist Tony Robinson in the latest enhancement of its marine capabilities. Xavier Villers, Head of Marine at Miller commented: “Coverage for stock …
A dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers. International navies have cracked down on pirates, …
Tim Holt, Head of Intelligence at Special Contingency Risks (SCR), part of the Willis Group, has warned that the piracy threat in Somalia is unlikely to abate for the following reasons: • “Piracy is the second largest generator of income …
Aspen US Insurance will expand its marine capabilities in the U.S. by offering brown water hull, protection & indemnity, and marine liabilities coverages. These new product offerings result from Aspen US Marine’s expansion of its existing business relationship with Axiom …
Asia’s crude imports from Iran are set to recover in September to levels reached before a July 1 insurance ban by the European Union plunged trade with the Islamic Republic into uncertainty not seen in decades. Top Asian buyers — …
India has joined Japan in offering government-backed insurance for ships carrying Iranian crude in order to bypass European sanctions that have nearly halved Iranian oil exports to key markets. The first Indian ship to carry oil from Iran with Indian …
Swett & Crawford subsidiary J. H. Blades & Co. has launched J. H. Blades Marine Underwriting Services (Blades Marine), a new marine insurance underwriting division. This full service MGU will underwrite brown water exposures for specialty retail agents and brokers. …
U.S. lawmakers moved a step closer to finalizing new sanctions aimed at further restricting Iran’s oil revenues after negotiators from the Senate and House of Representatives agreed on a compromise bill on Monday. The bill includes several new provisions seeking …
Willis Group Holdings announced the imminent opening of new Superyacht insurance brokerage office at the prestigious MB92 shipyard in Barcelona, planned for September. In connection with the new facility Willis said it “is offering all visitors a free analysis of …
