Latest Articles
Asia Marine Insurance Market – still buoyant in 2012
3 September 2012
Posted in Articles
Tagged: Asia, capacity, Cargo, forecast, Hull and Machinery, hull market
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 [...]
Read more »Marine insurance markets – a year on
20 July 2011
Posted in Articles
Tagged: Asia, Cargo, forecast, Hull and Machinery, marine insurance, soft market, tsunami
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 [...]
Read more »What freight forwarders should look for in their liability insurance
14 July 2011
Posted in Articles
Tagged: claims, defence, errors & omissions, freight forwarders, General Average, liability insurance, marine insurance
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 [...]
Read more »Insurance a necessary part of aquaculture risk management
18 February 2011
Posted in Articles
Tagged: aquaculture insurance, fish farms, risk management
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 [...]
Read more »Underwriting, underwriting, underwriting – An Asian broker’s perspective
8 September 2010
Posted in Articles
Tagged: Asia, capacity, claims, economy, insurers, IUMI, premiums, recession, trade, underwriting
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 [...]
Read more »Confusion remains over marine kidnap and ransom insurance
1 August 2009
Posted in Articles
Tagged: claims, General Average, Gulf of Aden, Hull and Machinery, kidnap & ransom, piracy, premiums, risk, shipowner, specialist, war
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 [...]
Read more »No time for risk taking
15 January 2009
Posted in Articles
Tagged: Advanced Loss of Profits, Cargo, claims, Delay in Start Up, freight forwarders, FSL, Hurricane Katrina, Hurricane Rita, insurers, losses, premiums, recession, reinsurance, risk, soft market, specialist, underwriting
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 [...]
Read more »Charterers Piracy Trade Disruption Insurance
11 January 2009
Posted in Articles
Tagged: charterer, insurers, kidnap & ransom, piracy, risk, specialist, trade, trade disruption
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 [...]
Read more »Marine Kidnap and Ransom Insurance
1 November 2008
Posted in Articles
Tagged: Gulf of Aden, kidnap & ransom, liabilities, losses, piracy, shipowner, Somalia
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 [...]
Read more »Insurance as a risk management tool in supply chain management
1 July 2007
Posted in Articles
Tagged: Asia, business interruption, Emma Maersk, Hyundai Fortune, insurers, liabilities, Lloyd's, losses, MSC Napoli, piracy, ports and terminals, premiums, regulation, risk, supply chain, trade, vessel
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 [...]
Read more »Zooming In
26 July 2006
Posted in Articles
Tagged: Asia, Cargo, insurers, risk, specialist, trade, trade credit, underwriting
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 [...]
Read more »Q&A with Lloyd’s
2 July 2006
Posted in Articles
Tagged: Asia, Lloyd's, specialist, underwriting
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 [...]
Read more »Broking with tradition in Asia
1 July 2006
Posted in Articles
Tagged: Asia, broker, capacity, Lloyd's, specialist
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 [...]
Read more »Feeling undervalued?
12 April 2006
Posted in Articles
Tagged: claims, General Average, insurers, losses, salvage, ship valuation, shipowner, underinsured
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 [...]
Read more »Blog
6 December 2012
In recent months, three insurers have pulled out of the Hull and Machinery market as competitive pressures and a year of substantial claims take their toll.
28 November 2012
At the recent Meeting of the Association’s board of Directors, the general increase to be applied to the advance call rates for the 2013 policy year was set at 5%.
Press releases
16 April 2013
INTTRA, the world’s largest multi-carrier shipping network for ocean freight, has launched a new member service that enables shippers to purchase cargo insurance from marine insurance specialist, FP Marine Risks.
4 February 2013
Hyperion Insurance Group Limited, the international insurance intermediary group, and FP Group Limited (FP), the Hong Kong-headquartered specialist marine broking group, are pleased to announce their partnership today, with Hyperion taking a 55% stake in FP Group Limited.
Opinions
26 March 2009
26 November 2008