Posts tagged: Hull and Machinery
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 »Radioactive ships and cargo – the insurance industry should provide cover
5 May 2011
Posted in Blog
Tagged: Cargo, clauses, Hull and Machinery, insurers, nuclear radiation, shipowner, specialist, underwriting
In light of the Japanese earthquake and subsequent radiation leak, the insurance industry has been very quick to point out that radioactive exclusion clauses are paramount and apply to ship and cargo owners. However, we believe that there is a commercial and humanitarian case for providing an insurance solution for some nuclear incidents. The relevant [...]
Read more »New hull syndicates in London signal good news for Assureds
4 November 2010
Posted in Blog
Tagged: capacity, Hull and Machinery, Lloyd's, marine insurance, premiums, rates
There has been considerable activity of late in the Lloyd’s Marine Hull Market. A series of underwriting groups are preparing to launch new Hull operations for the 2011 year of account. To date, we have heard confirmation of the following new entrants into the Marine Hull sector : 1) Barbican 2) Canopius 3) Liberty [...]
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 »Maersk Alabama – existing policies may not have responded to cover ransom
15 April 2009
Posted in Blog
Tagged: General Average, Gulf of Aden, Hull and Machinery, kidnap & ransom, Maersk Alabama, P&I, piracy
The Maersk Alabama made the news for many reasons after it was attacked by pirates recently, not least because it was the first American-flagged vessel to be hijacked in the Gulf of Aden. The crew was able to recapture their vessel, but the captain was taken as sole hostage on a lifeboat at sea. Uniquely, there [...]
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 »Insurance premiums expected to rise on back of piracy
29 January 2009
Posted in Blog
Tagged: charterer, Gulf of Aden, Hull and Machinery, piracy, shipowner, Somalia, war
There is an expectation that insurance premiums are due to rise as marine piracy continues to affect major shipping routes. Whilst the increase in naval presence has helped lower the rate of attacks, there have been a number of high profile pirate attacks on vessels transiting the Gulf of Aden which have been settled via [...]
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 »Recent articles
14 July 2011
We recommend ways for freight forwarders to ensure the liability insurance they purchase will protect them when they need it most.
18 February 2011
In light of continued disease outbreaks in fish farms around the world, Aquaculture Insurance must play a vital part of any risk management strategy.
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 March 2009
26 March 2007