Latest Opinion Pieces
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 »Piracy and the effect on cargo owners
26 November 2008
Posted in Opinions
Tagged: Cargo, General Average, Gulf of Aden, Hull and Machinery, kidnap & ransom, P&I, piracy, Somalia, war
In the waters off Somalia and the Gulf of Aden, the frequency of pirate attacks has intensified over the last two years as Somalia remains without a central government. International security efforts have increased, but their presence is having minimal impact on what is unquestionably a lucrative crime. Somali pirates are making ransom demands of [...]
Read more »Piracy – how covered are you?
26 March 2007
Posted in Opinions
Piracy has moved on from its swashbuckling days. Where once pirates boarded ships armed with knives and stole cash to fund their livelihoods, nowadays they are more likely to arrive by speedboat armed with automatic weapons, lock up the crew and hold them and their ship to ransom. If the vessel is lost or damaged [...]
Read more »No Harmony for Shippers
26 April 2006
Posted in Opinions
Tagged: Cargo, contracts of carriage, DG Harmony, IMDG Code, shippers
You arranged shipment of your dangerous goods and declared it to the carriers as required by the International Maritime Dangerous Goods (IMDG) code. A fire originating from your consignment engulfs an entire ship and its cargo – in what circumstances could you be found liable? In a recent case regarding strict liability, PPG Industries Inc, [...]
Read more »Hurricanes Rita and Katrina – heralding the next hard market?
26 October 2005
Posted in Opinions
Tagged: capacity, claims, hard market, Hurricane Katrina, Hurricane Rita
Whenever the insurance market suffers a major loss there almost immediately follows a chorus of rhetoric proclaiming the start of the next hard market. And so it is with this year’s US Gulf hurricanes. But is this a lot of noise being made by those who would talk-up the market, or does it reflect a [...]
Read more »Recent articles
3 September 2012
Have recessionary risks hindered the opportunities available to Asian marine insurers? And is the future a profitable one?
20 July 2011
What has changed in the marine insurance markets over the last year? And can Assureds expect to see these soft markets continue?
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.