Posts tagged: liabilities
Container shortages exposing freight forwarders to delay costs
24 December 2010
Posted in Blog
Tagged: Cargo, freight forwarders, liabilities, marine insurance
A shortage of containers is causing concern for freight forwarders and other container users, particularly as the subsequent impact from delays or damage can lead to additional financial costs. Container manufacturers struggled to keep their factories open during the global economic slowdown and many were forced to close and lay off workers. The sudden turnaround [...]
Read more »London leads liability, Asia yet to respond
22 February 2010
Posted in Blog
Tagged: Asia, liabilities, Lloyd's, London, underwriting
There is no doubt that Asia is a highly competitive market for traditional marine hull insurance. We have mentioned in previous blogs how shipowners are in a good position to secure well-rated insurance from competitive Asian insurers as a way to offset the rises being sought in London. However, in terms of marine liability programmes [...]
Read more »Rotterdam Rules
5 October 2009
Posted in Blog
Tagged: Cargo, contracts of carriage, liabilities, Rotterdam Rules, shippers, trade
Recently 16 states signed up to the new Rotterdam Rules which concern contracts of carriage wholly or partly by sea. The Rules have been designed to regulate marine cargo liabilities internationally and may ultimately replace the Hague Rules, the Hague-Visby Rules and the Hamburg rules in those countries that are signatories to those conventions. The [...]
Read more »Sydney yacht fire raises questions of marina operator’s liability
3 August 2009
Posted in Blog
Tagged: liabilities, losses, marina, yacht
The recent fire in Pittwater near Sydney, Australia, in which six yachts were destroyed by fire and parts of a marina damaged, has highlighted the importance of marinas and shiprepairers being appropriately and sufficiently insured for the work being undertaken. It is believed that the source of the fire came from the equipment a contractor [...]
Read more »Charterers feeling the crunch risking all to keep costs down
18 March 2009
Posted in Blog
Tagged: charterer, legal costs, liabilities, losses
Many charterers on time charter trip (TCT), short term time or voyage charters are seeing a downturn in volumes, freight rates and consequently profits. Costs are being squeezed all the way down the chain and charterers are looking to find ways of reducing their expenses, but if their insurance seems a tempting cost to sacrifice, [...]
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 »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.
Opinions
26 March 2009
26 November 2008