The London Market Group (LMG), which introduced a platform for the electronic support for endorsements in April, noted that the program has gotten off to a “resounding start;” so good in fact that it’s introducing three new classes of business. …
The Lloyd’s web site notes that August 18th was the 100th anniversary of the 1911 Lloyd’s Act, which was instrumental in transforming the market from a primarily marine insurer, to the specialized global risk market it has become. In addition …
A report compiled by David Rider of Neptune Maritime Security points out that, despite the “best efforts of the world’s navies and EU NAVFOR in particular, pirate attacks continue in the area off the Horn of Africa- Somalia, the Indian …
London’s marine insurance market has added Benin to a list of areas deemed high risk due to an escalation of pirate attacks in the area, a senior official said. Pirates attacked two Panamanian-flagged tankers carrying oil off the coast of …
Gray Page, a specialist maritime intelligence, investigation and crisis management company, has advised that the IMO’s Maritime Safety Committee’s (MSC) recently approved interim guidance on the employment of privately contracted armed security personnel (PCASP) to combat piracy, “underlines the requirement …
Lloyd’s announced the appointment of Sir David Steel as the next Lloyd’s Open Form (LOF) appeal arbitrator to hear salvage cases arising under the Lloyd’s Form of Salvage Agreement. He will succeed Mr. Justice Teare, who has held the position …
London-based Steamship Mutual, a leading P&I Club, announced the imminent launch of its latest Loss Prevention DVD entitled “PIRACY – The Menace at Sea”. The Club described the current piracy situation as a “wholly unacceptable threat to merchant shipping and …
The pirates were nervous. A rookie author – a white man from Canada – had unexpectedly arrived in their cliff-top Somali village to ask about the captured ship anchored offshore. Locals fearing a showdown quietly melted away into a small …
The Ohio Bureau of Workers’ Compensation (BWC) has reduced its rates for marine industry employers by 20 percent, effective July 1, the BWC said. The change lowers the rates for employers conducting business on Ohio waterways that subscribe to the …
A.M. Best Co. announced at the end of June that it has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Navigators Insurance Group, which is comprised of Navigators Insurance Company and its …
