Latest Opinion Pieces

Tianjin blast reveals insurance black hole

16 September 2015

Posted in Opinions

Explosions on 12 August 2015 in the Northern China port of Tianjin killed over 150 people and devastated the surrounding area. The estimate of damage caused has been rising steeply – initial numbers were in the order of US$1.5 billion but some observers are now suggesting figures as high as US$3.3 billion. The blast was […]

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Asia Interview: FP Marine’s Phil Bilney

13 July 2015

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Post UK: Andrew Tjaardstra, editor Asia, speaks to Phil Bilney, CEO, FP Marine in Hong Kong. Phil Bilney, pictured, is a true Hong Kong veteran. Starting in London working at several Lloyd’s brokers before moving to Asia in November 1990 to take the role of regional marine manager Sun Alliance based in Singapore, before leaving for Hong […]

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FP Marine’s Bilney: “Cargo rates are softest in my career”

22 May 2015

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Philip Bilney, CEO of Hong Kong-based marine specialist broker FP Marine, has warned that cargo rates are the softest he has seen in his 30+ years in insurance. Speaking to Post magazine in Hong Kong Bilney, said that rates for marine cargo are going “down and down” and are “unprecedented and unsustainable”. He added brokers weren’t to […]

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New ICC Clauses making it clearer for cargo clients

26 March 2009

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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 […]

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Piracy and the effect on cargo owners

26 November 2008

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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 […]

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Piracy – how covered are you?

26 March 2007

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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 […]

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No Harmony for Shippers

26 April 2006

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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, […]

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Hurricanes Rita and Katrina – heralding the next hard market?

26 October 2005

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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 […]

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