London-based specialist Lloyd’s insurer Marketform announced that experienced London Market underwriter Gary Cooke will join the company effective June first, as head of Marine Cargo Underwriting. “After two years at the Bank of England, Cooke joined Lloyd’s in 1980 and …
Somali pirates have freed a Greek-owned, Cyprus-flagged ship they seized in January after receiving a ransom payment, the pirates and a piracy monitoring group said. The pirates said they had released MV Eagle, a 52,163 deadweight ton merchant vessel and …
Hagerty Classic Marine has created a broker referral program for its Canadian product. This move will allow brokers in Canada to refer collector boat insurance clients and receive commission for new and renewal business. There are no brokerage minimum volume …
Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) global piracy report revealed. The IMB said the “sharp rise was driven …
A.M. Best Co. has released a briefing addressing the marine protection and indemnity (P&I) market, which indicates that the” insurers operating in the P&I market went into the February 2011 renewal period in a good financial position.” “Reported balance sheets …
Lloyd’s Channel Syndicate 2015 has appointed Iain Macleod as Head of its Marine Division. He has worked in the London Market for over 25 years and has built a Marine account for previous companies. He “will be joined by an …
Chaucer Syndicates Limited announced a new partnership with Nakhodka Re in Moscow and RFIB Ltd in London to launch SeaLine, as the first Lloyd’s coverholder in Russia. “Chaucer and RFIB acted as sponsors to Lloyd’s for SeaLine, which received Lloyd’s …
BoatU.S. and CNA have added new policy benefits for recreational boaters across the country. A few of the new policy benefits available to policyholders include: Diminishing Deductibles, which automatically discounts the hull deductible by 25% each year the policy remains …
Insured losses from the magnitude 9.0 earthquake and tsunami that struck Japan last Friday are between $12 billion and $25 billion, according to catastrophe modeler EQECAT. In its latest update, the firm describes the losses as “significant.” The figures are …
Maritime Program Group has launched a new Excess P&I facility specifically designed for crewed yachts. The new program through Navigators Insurance Co. offers up to $25,000,000 excess of $5,000,000 underlying for crewed luxury yachts. “We created this new excess facility …
