Articles from March 2009:
New ICC Clauses making it clearer for cargo clients
26 March 2009
Posted in Opinions
Tagged: Cargo, ICC Clauses
At the beginning of the year, the new ICC Clauses became available to the Market after a two year consultation. The overall result has been to create clearer policies that are more favourable to the Assured. The following is a summary of some of the more noteworthy changes taken from the new ICC (A) (all [...]
Read more »Container Lessors insurance available through new markets
18 March 2009
Posted in Blog
Tagged: container leasing, credit insurance, trade
In the face of mounting losses, insurers in the Marine market have recently been withdrawing insurance that protects container leasing companies against the insolvency or default of their shipping company clients. However, for several years FP Marine Risks has been successfully arranging an alternative product that meets the needs of container lessors whilst being more [...]
Read more »Charterers feeling the crunch risking all to keep costs down
18 March 2009
Posted in Blog
Tagged: charterer, legal costs, liabilities, losses
Many charterers on time charter trip (TCT), short term time or voyage charters are seeing a downturn in volumes, freight rates and consequently profits. Costs are being squeezed all the way down the chain and charterers are looking to find ways of reducing their expenses, but if their insurance seems a tempting cost to sacrifice, [...]
Read more »New ICC Clauses making it clearer for cargo clients
17 March 2009
Posted in Blog
Tagged: Cargo, ICC Clauses
At the beginning of the year, the new ICC Clauses became available to the Market after a two year consultation. The overall result has been to create clearer policies that are more favourable to the Assured. In the Opinions section of this website, we have provided a summary of some of the more noteworthy changes [...]
Read more »Currency fluctuations creating inadequate marine insured values
9 March 2009
Posted in Blog
Tagged: currency exchange rates, exporters, importers, recession, shipowners
The world economic crisis is playing havoc with currency exchange rates. The implications of significant fluctuations can be serious, particularly for shipowners, importers and exporters because their marine insurance may no longer cover them for the full amount in the case of loss or damage. A recent Australian marine insurance claim involved the total loss [...]
Read more »Lay up returns or cancelling returns only on Hull and Machinery policies
2 March 2009
Posted in Blog
Tagged: Hull and Machinery, lay up, shipowner, shipping
As freight rates and trade volumes have dropped, an increased number of vessels are being laid-up whilst owners reduce costs and sit out the current downturn. Some estimates suggest this is affecting up 9% of the world container fleet. So, what’s the most premium efficient way to manage a lay-up? The Institute Time Clauses – [...]
Read more »Recent articles
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14 July 2011
We recommend ways for freight forwarders to ensure the liability insurance they purchase will protect them when they need it most.
Blog
30 January 2012
As of 30 January 2012, the US has issued some important sanctions against a few major corporations and the EU has escalated its regulations on Iranian trade.
12 December 2011
On the 8 December, the Joint War Committee added Syria to its listed areas and removed three areas.
Press releases
11 May 2011
FP Marine Risks and Oceanic partnership announced, creating an expert network of marine specialists serving the Australasian retail and wholesale markets.
29 April 2010
FP Marine Risks builds direct retail business in Australasia through acquisition of specialist cargo insurance agency
Opinions
26 November 2008
26 March 2007