Posts tagged: reinsurance
Sanctions Update – Iran
7 December 2011
Posted in Blog
Tagged: insurance, Iran, reinsurance, sanctions
In accordance with EU sanctions, (re)insurance is prohibited for the benefit of Iranian persons, entities, and bodies. Imports of refined petroleum into Iran are also not permitted. Additionally, from 21 November 2011, any transactions (direct or indirect) and business relationships with all Iranian banks, including their branches and subsidiaries, and the Central Bank of Iran [...]
Read more »Sanctions update – Syria
7 December 2011
Posted in Blog
Tagged: marine insurance, reinsurance, sanctions, Syria
Current sanctions against Syria are predominantly targeted at certain SDNs and the country’s energy industry. (Re)Insurance related to crude oil and petroleum products are strictly prohibited, which also includes hull policies for tankers or any other vessel involved in such activities. International restrictions are constantly changing and updates provided are by no means exhaustive. If [...]
Read more »EU Sanctions against Syria
13 September 2011
Posted in Blog
Tagged: insurance, reinsurance, sanctions, Syria
On 2 September 2011, the EU stepped up its sanctions on Syria in response to the continued civil unrest. The Council of Europe has adopted Council Regulation (EU) No 878/2011 which amends Regulation 442/2011. The new sanctions prohibit the purchase, import or transportation from Syria of crude oil and petroleum products. The EU has also [...]
Read more »Cargo accumulation hazard, precipitating large losses
29 March 2010
Posted in Blog
Tagged: accumulation, Cargo, freight forwarders, insurers, losses, reinsurance, storage
Significant accumulation of cargo is exposing cargo owners, freight forwarders and marine underwriters to the possibility of catastrophic losses. Freight stations and warehouses can each contain hundreds of millions of dollars worth of goods that are at risk of becoming total losses from perils such as fire, flood and wind. Earlier this year, a serious [...]
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 »Recent articles
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?
14 July 2011
We recommend ways for freight forwarders to ensure the liability insurance they purchase will protect them when they need it most.
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 November 2008