Trade | FP Marine Risks

Posts tagged: trade

Underwriting, underwriting, underwriting – An Asian broker’s perspective

8 September 2010

Posted in Articles

Tagged: Asia, capacity, claims, economy, insurers, IUMI, premiums, recession, trade, underwriting

First published in the September 2010 issue of the Asia Insurance Review On the face of it, the global economic slump created conditions that should have left marine insurance clients bearing the brunt of a hardening market and spiralling premiums. But according to Mr Philip Bilney, Group Executive Director, FP Marine Risks, not only did that [...]

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 [...]

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 [...]

Container Lessors insurance available through new markets

18 March 2009

Posted in Blog

Tagged: container leasing, credit insurance, trade

In the face of mounting losses, insurers in the Marine market have recently been withdrawing insurance that protects container leasing companies against the insolvency or default of their shipping company clients. However, for several years FP Marine Risks has been successfully arranging an alternative product that meets the needs of container lessors whilst [...]

Charterers Piracy Trade Disruption Insurance

11 January 2009

Posted in Articles

Tagged: charterer, insurers, kidnap & ransom, piracy, risk, specialist, trade, trade disruption

In response to the dramatic increase in piracy, Charterers’ are able to purchase insurance that covers any payments they are still liable for in the event of a vessel being captured. Minimising the Risks for Charterers Avoiding the area entirely will limit a vessel’s exposure to the risk of piracy although, as in the high [...]

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 [...]

Zooming In

26 July 2006

Posted in Articles

Tagged: Asia, Cargo, insurers, risk, specialist, trade, trade credit, underwriting

Originally published by Trade Finance Magazine, July/August 2006 The challenge for credit and political risk insurers is considering the numerous factors that affect the markets in which they operate. Global trends affect the demand for business and local issues determine how they structure cover for their clients. Oliver O’Connell looks at a snapshot of the Asian [...]