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Latest news in shipping this week

26 July 2017

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Here are the headlines for the shipping industry that have got us talking this week. Polaris says no explosion on VLOC South Korea’s Polaris Shipping has denied widespread reports today of an explosion on board one of its VLOCs. A company official told TradeWinds that two Filipino crew were injured on Saturday when a high-pressure […]

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Latest news for this week

11 July 2017

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Here are the top stories for this week. China shipping firm Cosco to buy HK rival OOIL for $6.3bn Cosco Shipping Holdings CO Ltd has offered to buy Orient Overseas International Ltd (OOIL) for HK$49.23 billion ($6.30 billion), in a deal that will see the mainland China group become the world’s third largest container liner, […]

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In the news this week

4 July 2017

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Here are the most talked about headlines in our offices this week. Cyber-attack affects APM Terminals and Maersk Line AP Moller-Maersk says its subsidiary APM Terminals has been impacted in a number of ports following yesterday’s cyber-attack. The company’s systems across multiple business units went down on Tuesday 27th June due to a cyber-attack named Petya. […]

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This week’s shipping news

27 June 2017

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Here are the latest news headlines from the Shipping Industry this week. Royal 16 crewman rescued from hijackers Philippine government troops have reportedly rescued a seafarer taken hostage last November from a Vietnamese bulker. The unnamed man was one of the six crewmembers abducted from the 5,600-dwt Royal 16 (built 2011) by a group of […]

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In the news this week

21 June 2017

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Here are the stories that have us talking this week. Seven Sailors killed in collision off Japan’s coast The US Navy has identified seven sailors who were killed when their destroyer collided with a container ship in Japanese waters on Saturday. The seven sailors were reported missing after the incident which took place at about […]

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Latest news from the industry this week

13 June 2017

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Here are the top stories that have got us talking at FP Marine Risks this week. Chemical tanker runs aground off Vietnam A Japanese-owned chemical tanker has reportedly ran aground off the coast of central Vietnam on Sunday, reports China’s Xinhua news agency. Vietnam’s National Search and Rescue Committee said the Cayman Islands-flagged vessel was […]

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This week’s latest news

6 June 2017

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See below for the latest shipping news for this week. Pirates fire RPG on Greek tanker Pirates attempted to hit a Greek tanker with an RPG earlier today, the first attack against a big commercial ship following a series of incidents off Somalia in previous months. TradeWinds understands the vessel under attack was the 70,297-dwt […]

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Latest News from the Industry

29 May 2017

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Find below the latest news stories that caught our attention this week. Deadly incident on Norden bulker Canada’s Transportation Safety Board has deployed a team of investigators after a fatal incident on a Norden bulker. The Danish shipowner’s 36,500-dwt Nord Quebec (built 2013) was involved in what the Transportation Safety Board (TSB) described as a “berthing occurrence” […]

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This week’s top stories

22 May 2017

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Trafigura plotting deal for 22 vessels Swiss trading giant Trafigura is lining up a vast order in South Korea that would propel the commodities giant back into tanker ownership, according to industry sources. TradeWinds is told that Trafigura, a leading charterer, plans to order 22 tankers at Korea’s Hyundai Heavy Industries (HHI) — eight suezmaxes […]

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Latest news

17 May 2017

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Check out what’s been happening in shipping this week. 17th May 2017 Daiichi wins landmark Ocean Victory case The UK supreme court has ruled in favour of shipowner Daiichi in the case arising from the loss of Ocean Victory, the capsize bulker at Kashima in Japan 2006. It unanimously dismissed insurer Gard and China National Chartering […]

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Top stories for this week

2 May 2017

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Here are the top stories that have got our attention this week: Tugs and infrastructure problems hampering new Panama Canal locks 50% of the projected number of ships are transiting through the locks of the recently widened Panama Canal. American Journal of Transportation is putting this down to a lack of staff. Shortages of tugs […]

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What freight forwarders should look for in their liability insurance

9 March 2016

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When it comes to insurance, we only tend to find out the inadequacies of our cover when we make a claim. For example, when we purchase car insurance we may perhaps choose the cheapest option, but when we have to make a claim, we might face a staggeringly high excess, no courtesy car to keep […]

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International Group Clubs Excess of Loss Reinsurance Rates – 2016/2017

14 January 2016

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The International Group Excess of Loss reinsurance rates for 2016/17 have now been finalised and fortunately they offer some small relief for Owners. Click on the link below to view rates. Excess of Loss Reinsurance Rates 2016_2017

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The State of the Insurance Market in Hong Kong

25 November 2015

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Post Magazine held a roundtable with seven Hong Kong broker CEOs, three senior Asia-Pacific QBE executives and the Asia-Pacific leader of the Chartered Insurance Institute at the Mandarin Oriental to discuss the state of the insurance market in Hong Kong and how brokers can attract young talent….read more  

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Your Guide to Cargo Insurance and Open Covers

23 January 2015

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Publication: Voice of the Independent Issue: January 2015 Click here to read the article in PDF.

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Aquaculture Insurance Certificate Awarding Ceremony

28 October 2014

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Publication: Chinatimes Date: 23 Oct 2014 德河海洋 保首張水產保單 「水 產養殖保單」是以各種商品化養殖的水產品(包括淡/海水養殖的魚蝦貝蟹藻類等)作為保險標的之產物保險;隨著養殖魚業日益發展,全球主要水產養 殖國皆將水產保單視為自主風險管理之重要項目。德河海洋(8465)於日前取得台灣首張水產養殖保單,並由富邦產物保險公司承保,日前(10月9日)在德 河海洋台南總公司進行授證儀式,此保單將為德河海洋養殖之石斑魚妥善進行資產保全。 德河海洋養殖石斑魚自源頭「種魚培育」開始至「魚苗/成魚養成」其養成期間長,近年來極端天氣肆虐全球,受天氣等自然條件的影響相對增加,目前台灣的養殖業損失補償主要以〈農業天然災害救助辦法〉為依據,然而政府補助農損金額有限,必須有相對因應之道才能確實防範。 當 企業走向資本化,提升內部經濟價值以保障公司經營績效及股東權利,有其絕對必要性。為降低養殖魚場風險,除提升設備與技術,水產養殖保單無疑是一 項有力的風險轉嫁機制。依照養殖面積投保,一旦出現自然災害、病害等非人為因素造成的損失,將根據受損情況進行賠付。本張保單審核過程嚴謹,國際再保公司 FP Marine Risks曾多次派人親自飛抵台灣,了解德河海洋台南、屏東各漁場及週邊環境,包含財務報表、養殖魚種、科技管理方式、數據紀錄、海水品質及水源供應,確 認符合危險管控標準後始予以承保。 繼九月初公開發行後,德河海洋再度展現新一代農企業在產業中的領先能力,並力促進石斑魚養殖之產業升級,為台灣農業建立新里程碑。 Source: http://www.chinatimes.com/newspapers/20141023000360-260207 水產保單授證儀式,德河海洋總經理吳智謀(左三)暨主管與富邦產險代表合影。

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Lloyd’s Marine Viewpoints

23 September 2014

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Article in Lloyd’s Marine Viewpoints 2014, written by Ken Littlejohn, our Director Head of Claims and Legal. The conception that marine hull, liability or cargo insurance in the far east is anything less than sophisticated, is surely about as valid as the assumption that the Brazilian football team is unbeatable at home – or, for […]

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Do you really understand General Average?

29 August 2014

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  Publication: Voice of the Independent Issue: August 2014   The concept of General Average has been around in some form since the Phoenician times but for the purpose of insurance this has been common practice since the 19th century. FP Marine Risks claims expert Richard Kamppari-Baker explains why both cargo owners and freight forwarders […]

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Air Cargo Claims Pitfalls

6 August 2014

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  Publication: Voice of the Independent Issue: July 2014   Air Cargo operations are unique in the sense that many of its practices are modern and do not have the history or traditions of other transport modes such as shipping, road or rail. Voice of the Independent asked FP Marine Risks claims expert Richard Kamppari-Baker […]

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LPG Storage Tanks Move from Italy to Mauritius

30 June 2014

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Publication: Heavy Lift Issue: May-Jun 2014 How a number of heavy lift specialists combined to ensure the safe delivery of three massive 5,000-tonne LPG capacity vessels from Italy to Mauritius. On March 20, 2014, Petredec Mauritius inaugurated its LPG mounded storage import and re-export terminal facility on the Indian Ocean island of Mauritius, the largest […]

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What does project cargo really mean to insurers?

17 June 2014

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Publication: Heavy Lift Issue: Mar-Apr 2014   Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from an insurer’s point of view. Project cargo is the large, oversized, overweight heavy lift cargo or critical pieces of equipment that may be high value or time sensitive and sometimes both. […]

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A Day in the Life of a Cargo Surveyor

16 June 2014

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Publication: Heavy Lift Issue: Jan-Feb 2014 FP Marine Risks asked one of its partners in the worldwide marine and transit claims consultancy WKW Group for an account of a typical day’s work by a senior surveyor relating to project cargo inspection. FP Marine Risks typically employs surveyors for their technical knowledge and experience to assess […]

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Fish farming is booming in Asia

3 June 2014

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Publication: Post Online Issue: 3 Jun 2014 The world’s top five aquaculture-producing countries are all in Asia, with China leading the way with a massive 36.7m tonnes of fish in 2010, dwarfing the second-biggest producer, India, at 4.6m tonnes. Overall, 90% of the fish we eat is produced in Asia, while the continent has also […]

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Potential aquaculture insurance premiums estimated at $3bn

3 June 2014

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Publication: Post Online Issue: 3 Jun 2014 Talking to Post, Jason Scott, head of aquaculture and livestock at Hong Kong-based broker FP Marine Risks estimated the aquaculture insurance market could be worth “around half” of the $6bn premium Chinese agriculture insurance market. However, he added it is very difficult to calculate given the levels of underinsurance […]

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Packing for Travel

28 May 2014

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Publication: Cargo Security Intelligence Issue: May 2014 Packing for Travel ‘An increasing number of claims are arising from the use of flexitanks and the claims amounts are frequently much higher compared to other cargo’ Richard Kamppari-Baker of FP Marine Risks looks at the challenges of cargo security and stowage in containers and explains how to […]

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Protecting Your Business

16 May 2014

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Publication: WCA BENEFITS Issue: May 2014 Protecting Your Business WCA Insurance offers the world’s most cost-effective and highest-quality insurance products for independent freight forwarding companies. Partnering with leading Lloyd’s List-registered insurance broker FP Marine Risks, WCA Insurance has saved members thousands, and in some cases tens of thousands of dollars in insurance premiums. Thanks to […]

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Covering the Insurance Challenges of Big Parts

7 April 2014

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FP Marine Risks’ feature for Lloyd’s List Australia, 6 March 2014. FP Marine Risks’ claims manager Australia New Zealand and the Pacific Alison Bonsor explains the challenges of project cargo risk assessment from an insurance point of view. The Term ‘project cargo’ describes large, oversized, over-weight, heavy-lift cargos, or critical pieces of equipment that may […]

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Brazilian Regulations in Focus

2 April 2014

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FP Marine Risks’ feature for Voice of the Independent magazine, March 2014. FP Marine Risks Claims Manager Richard Kamppari-Baker looks at the effect of the Brazil regulation a year since it’s been in effect and discusses the impact it has had on the industry. Many freight forwarders will know in May last year, the Brazil […]

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Controlled Conditions

1 April 2014

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FP Marine Risks’ feature for Cargo Security Intelligence magazine, March 2014. Richard Kamppari-Baker of FP Marine Risks explains the challenges of perishable and temperature-controlled cargo shipments. The purpose of a reefer is to simply remove heat from an enclosed space in order to retard the process of degrading the product in the same way as […]

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Avoid Abandoned Cargo Claims

19 February 2014

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Publication: VOICE of the INDEPENDENT Issue: February 2014 Abandoned cargo is now becoming one of the most worrying developments for freight forwarders. FP Marine Risks Claims expert, Richard Kamppari-Baker offers some advice on the handling of uncollected cargo to minimize abandoned cargo claims… Cargo is uncollected and abandoned for numerous reasons and can be as […]

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How to Avoid Perishable Cargo Claims

22 January 2014

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Publication: VOICE of the INDEPENDENT Issue: January 2014 While perishable cargo is highly profitable for freight forwarders, it can add additional risks, resulting in ruined cargo and dissatisfied customers.  FP Marine Risks Perishable Cargo Claims expert, Richard Kamppari-Baker offers some advice on the transport of perishable and temperature controlled cargo to minimise costly and time-consuming […]

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Is All Risks Cargo Insurance “All Risks”?

11 December 2013

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Voice of the Independent, November 2013 Ensuring you have the right insurance is vital and understanding the limits of your policies is especially vital for project forwarders and shippers.  Angus Galbraith of FP Marine Risks explains the definition of “All Risks” in Marine Cargo Insurance policies as defined in the Institute Cargo Clauses A and […]

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Loving the Business is the Best Way to Expand

27 November 2013

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Lloyd’s List Australia Asia Pacific Special Report, November 2013

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FP Marine Cites Costs of Claims and Poor Returns for Rising Premiums

11 October 2013

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Published in the Insurance Insight, October 2013 A director at broker FP Marine Risks based in Hong Kong agrees with Lloyd’s broker Tysers that P&I clubs will likely raise shipowners’ premiums at a rate on average of 7.5% this year, similar to last year. Reacting to Tysers’ annual report which saw increases varying between 5% […]

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Asia Marine Insurance Market – still buoyant in 2012

3 September 2012

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Written by FP Marine Risks and first published in the Asia Insurance Review, September 2012 The past year has seen the world stutter through economic crises in the Eurozone, slowing and downward revisions of growth rates, natural catastrophes and major disasters. According to the World Trade Organisation, there was a sharp deceleration in world trade […]

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Marine insurance markets – a year on

20 July 2011

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Written by FP Marine Risks and first published in the Asia Insurance Review, July 2011 Almost a year ago, we wrote about the marine insurance market from an Asian perspective. We said that to focus on “underwriting, underwriting, underwriting” in response to the global economic slowdown, suggested that insurers should seek rate rises, higher deductibles […]

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What freight forwarders should look for in their liability insurance

14 July 2011

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Written by FP Marine Risks and first published in HeavyLift Magazine, July 2011 When it comes to insurance, we only tend to find out the inadequacies of our cover when we make a claim. For example, when we purchase car insurance we may perhaps choose the cheapest option, but when we have to make a […]

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Insurance a necessary part of aquaculture risk management

18 February 2011

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Whilst there continue to be significant developments in health management for farmed fish, specialist aquaculture insurance plays an important role in a company’s risk management portfolio if it is to be sufficiently protected against losses, says Jason Scott, aquaculture insurance consultant for FP Marine Risks. At the end of 2010 there was a new outbreak […]

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Underwriting, underwriting, underwriting – An Asian broker’s perspective

8 September 2010

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First published in the September 2010 issue of the Asia Insurance Review On the face of it, the global economic slump created conditions that should have left marine insurance clients bearing the brunt of a hardening market and spiralling premiums.  But according to Mr Philip Bilney, Group Executive Director, FP Marine Risks, not only did […]

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Confusion remains over marine kidnap and ransom insurance

1 August 2009

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First published in the August 2009 edition of Ships and Shipping The maritime news continues to be filled with articles about pirate attacks in the Gulf of Aden, while piracy also continues less reported in several other key areas such as Nigeria, the Philippines and Brazil. There has been some discussion, and perhaps confusion, about […]

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No time for risk taking

15 January 2009

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First published in the January / February 2009 edition of Heavy Lift Magazine The global economic gloom is casting its shadow over insurance like everything else, with sharp rises in premiums likely across the board in the near future. We asked logistics-industry insurance expert Philip Bilney* why reducing cover is not a good idea. Can […]

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Charterers Piracy Trade Disruption Insurance

11 January 2009

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In response to the dramatic increase in piracy, Charterers’ are able to purchase insurance that covers any payments they are still liable for in the event of a vessel being captured. Minimising the Risks for Charterers Avoiding the area entirely will limit a vessel’s exposure to the risk of piracy although, as in the high […]

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Marine Kidnap and Ransom Insurance

1 November 2008

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The percentage of piracy attacks that involve hostage-taking or kidnap has risen dramatically from 53% in 2004 to a staggering 82% in 2007. Whilst attacks in the Malacca Strait and Indonesia have dropped by over 50% in the same time, the Somali coast and Gulf of Aden have seen a drastic rise from only 2 […]

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Insurance as a risk management tool in supply chain management

1 July 2007

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This article appears in the Standard Chartered Bank World of Supply Chain Management 2007/2008 With growing trade volumes, vessel sizes and government legislation, supply chain managers face increasing risks and liabilities in their industry. Insurance is an important risk management tool, but one that has yet to be fully utilised in Asia. For an effective […]

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Zooming In

26 July 2006

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Originally published by Trade Finance Magazine, July/August 2006 The challenge for credit and political risk insurers is considering the numerous factors that affect the markets in which they operate. Global trends affect the demand for business and local issues determine how they structure cover for their clients. Oliver O’Connell looks at a snapshot of the […]

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Q&A with Lloyd’s

2 July 2006

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This was published by Lloyd’s Asia Pacific, July 2006 Philip Bilney is an Executive Director at FP Marine Risks, the first Asian broker to receive full Lloyd’s accreditation in its own right. He heads up FP Marine Risks’ Hong Kong Office. Q1: Why and when was FP Marine Risks set up? A1: The company was […]

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Broking with tradition in Asia

1 July 2006

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This article was published by Lloyd’s, July 2006 Brokers are becoming an “essential part of the insurance buying process” in Asia, according to Lloyd’s first accredited broker in the region. Philip Bilney, executive director of FP Marine Risks, says that although there is a well-established market in Asia already, there is still a lot of […]

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Feeling undervalued?

12 April 2006

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This article was published in Asia Pacific Shipping, April 2006. Andrew Brooker, Associate Director of FP Marine Risks, a leading marine insurance broker based in Hong Kong, explains: “The S&P market can have a huge impact on the ability of shipowners to receive full reimbursement from their insurers in the event of certain types of […]

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