Posts tagged: shipping
EU Sanctions against Iran
16 August 2010
Posted in Blog
Tagged: Europe, Iran, sanctions, shipping, trade
Following the CISADA sanctions, the UN, EU and UK have issued separate sanctions against Iran along similar lines. The EU sanctions ban European companies from investing in Iran’s oil and gas industries, while restricting trade and financial links including barring any European company from providing insurance services to Iranian entities. The EU sanctions go further than the [...]
Read more »Gard announces no general increase for 2010
30 October 2009
Posted in Blog
Tagged: P&I, premiums, shipping
The Board of Gard has decided that no general premium increase will be required for mutual and fixed premium P&I entries for the 2010 year. This is not to say that Gard will not be seeking increases, simply that those increases will be dependant upon each individual member’s exposure and loss record. In addition, any [...]
Read more »Falling ship values highlights importance of value adjustment rates
3 August 2009
Posted in Blog
Tagged: insurers, premiums, risk, shipowner, shipping, value adjustment rate
As shipowners will know all too well, ship values have continued to fall; at FP Marine Risks we have seen some reductions of up to 50% in recent months. However, the consequent reduction in premium varies widely among insurers and it is important that shipowners are aware of the basis of that variation in premium if [...]
Read more »More shipowners enjoying benefits of Asian placement in these difficult times
30 June 2009
Posted in Blog
Tagged: Asia, capacity, insurers, shipowner, shipping, underwriting
Shipowners with smaller fleets, smaller vessels or lower values can still benefit from an Asian insurance placement as world markets become more competitive. Some believe that Asian-based underwriters are dedicated to the Asian-based shipowning market (putting aside Japan and Korea’s involvement in the large fleets) to the exclusion of non-Asian tonnage. Whilst this may have [...]
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 – Hulls [...]
Read more »Negotiations arise when changing technical management
13 February 2009
Posted in Blog
Tagged: shipowner, shipping, technical management
As some insurers become more conservative in their approach to risks, what might have been a simple request to agree to a change of technical management is fast becoming a more difficult negotiation. One of the aspects an underwriter will consider when rating or accepting a risk is the identity of the technical manager and their [...]
Read more »Recent articles
8 September 2010
The global economic slump created conditions that should have left marine insurance clients bearing the brunt of a hardening market and spiralling premiums. Not only did that not transpire, but it is not likely to either.
Blog
9 August 2010
Sanctions against Iran are having an inevitable impact as insurers introduce new clauses to avoid possible breaches.
26 April 2010
Insurers reporting healthy profits in spite of dire predictions
Press releases
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