The reluctance of foreign banks to deal with Iran could complicate any compensation payments resulting from the collision last week of an Iranian oil tanker and a Chinese cargo ship, sources say. The tanker Sanchi, carrying 136,000 tonnes of highly …
Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of Heather Clarkson as managing director – Marine. She takes up her role on Jan. 2, 2018 and will report to Andrew Draycott, CEO – Energy, Marine & Construction. …
British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialized providers to opt for Ireland in two days. …
British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to announce such a move. Insurers are making …
Ships which do not meet cuts to the amount of sulfur they can burn in their engines risk being declared “unseaworthy,” the International Maritime Organization (IMO) said on Thursday. Shippers and refiner are not sure how they will comply with …
Steamship Mutual, the London-based protection and indemnity (P&I) club, announced it has been granted a license to operate as an insurer from its Singapore branch office. “This is a reflection of the club’s commitment to vessel owners and operators from …
PPL, the London market’s electronic placing platform, announced that property/casualty risks now can be bound on the platform. The PPL platform first began trading in July 2016 with stand-alone terrorism risks. It now also writes political violence, financial and professional …
Neon announced the launch of an underwriting operation in Italy with Cambiaso Risso, a leading Italian marine broker who will have a minority shareholding in the venture. Based in Genoa, Neon Italy will initially target hull and cargo business placed …
A coalition of insurance firms agreed on Friday to crack down on pirate fishing by banning coverage for trawlers whose illegal catches are worth at least $10 billion a year. Firms would deny insurance for vessels on a European Union …
Consultancy EY, data security firm Guardtime, Microsoft and ship operator Maersk have joined to build a blockchain-based marine insurance platform that will be the first real-world use of the nascent technology in the shipping industry. EY and Guardtime said the …
