Stiff competition and moves by owners to protect ships better has taken the edge out of insurance costs after pirate attacks off Africa’s east coast created a two-year boom for specialist cover. But analysts say the menace of piracy is …
Grounding Claims, Fire, Engine Damage and Piracy All Concerns for Cruise Liners Cruise ships have been in the news a lot recently, but sometimes for the wrong reasons. Stories of passengers stricken with norovirus, or stranded in the Antarctic ice, …
A cargo ship and a chemical tanker have both been hijacked by pirates in the perilous waters off the coast of Somalia, bringing to four the number of ships seized in the past week, officials said Saturday. The multiple hijackings …
The Marine insurance market continues to face “choppy seas in the wake of the global economic crisis, with a sharp decline in international trade crippling certain sectors of the shipping community, piracy spreading to new regions, and stalled capital markets …
A homeless man was arrested and charged with arson for starting a tiny blaze in August near the spot where a gigantic wildfire erupted several days later, killing two firefighters, homicide detectives said Monday. Babatunsin Olukunle, 25, is the strongest …
Homicide detectives investigating a deadly wildfire that ravaged much of Angeles National Forest said they are looking for a transient suspected of starting a smaller fire several miles away. Babatunsin Olukunle, 25, has not been linked to the massive Station …
A. M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Mexico’s Grupo Nacional Provincial, S. A.(GNP). Best said the “ratings reflect GNP’s …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘A’ (Excellent) and assigned issuer credit ratings (ICR) of “a-” to Argus Group Holdings Limited (AGH) and its subsidiaries, Argus Insurance Company Limited (AICL), Somers Isle …
Allianz Global Corporate & Specialty (AGCS), a leading insurer of ships and cargo, has released a study suggesting its clients adapt their approach to marine insurance as the threat of piracy off the Horn of Africa continues to grow. The …
A.M. Best Co. has affirmed the financial strength rating of ‘B’ (Fair) and issuer credit rating of “bb+” of Nigeria’s Continental Reinsurance Plc, both with stable outlooks. “The ratings reflect Continental Re’s insufficient although improving risk management and insufficient security …
