TT Club’s improving financial position has been acknowledged by industry ratings agency AM Best, which has revised its outlook on the mutual insurer’s rating from ‘stable’ to ‘positive’. This latest recognition marks further progress toward the goal of regaining an ‘A-’ rating. In its press release AM Best affirmed a rating of ‘B++ (Very Good)’ and indicated that the change of outlook reflects an expectation that the current ratings could be reassessed once TT Club has demonstrated a consistent track record of strong earnings. TT Club’s 2004 record performance saw gross earned premiums rise by over 20% and the total surplus and reserves increase by 58%. AM Best also noted that as a leading insurer and risk manager for the international transport and logistics industry, TT Club has a strong business position in its niche market. Paul Neagle, TT Club Chief Executive, welcomed the fact that the AM Best assessment had confirmed the increasing financial strength of the Club. “The improvement in outlook means the Club has ascended a further rung on the ratings ladder,” he stated, “and I am confident that TT is well placed to deliver consistently strong earnings in 2005 and beyond.”
TT Club, the leading mutual insurer in the international freight and logistics arena, has had its financial strength rating of A- (Excellent) re-affirmed by the US rating agency, A. M. Best. TT’s issuer credit rating was also maintained at "a-" by the agency, which at the same time determined that the outlook for both ratings remains "stable." In a statement issued today announcing the Club’s ratings, A. M
The Through Transport Club, the insurance mutual for ship operators, stevedores, port authorities, transport and logistics companies and freight forwarders worldwide, has appointed Louise Bradley to the new position of director of e-commerce strategy. Based in London, the appointment highlights the growing importance of the TT Club's suite of Internet services, which include ClaimsTrac, eClaims and TTXpress.com. Bradley, a graduate in law from Queen's University, Belfast
The TT Club, a provider of insurance and risk management services to the international transport and logistics industry, has reported another successful year for its financial year 2003. In its annual report to its Members, the Board highlighted improvements in the strength and quality of the balance sheet as well as the policy year combined ratio - the underlying operating performance. On the balance sheet, the Club reported a 14% increase in the total surplus
A new United Nations convention on carriage contracts (“Rotterdam Rules”) will impact the liability of marine terminal operators when it comes into force, according to TT Club. The UNCITRAL “Draft convention on contracts for the international carriage of goods wholly or partly by sea”, now known as the Rotterdam Rules, has been submitted on 20 October 2008 to the International Legal Committee of the United Nations General Assembly
International freight insurer TT Club convened a special seminar at the recent conference on transport and logistics, Trans Russia in Moscow. Lead by TT Club’s General Manager, EMEA, Kevin King and Kirill Berezov from the insurer’s long-established Russian network partner Panditrans, the seminar outlined both the changing nature of the transport operator’s liability in Russia and the idiosyncratic nature of insurance conventions applicable in the region.
The overwhelming majority of insurance claims analysed by TT Club have showed that costly damages and loss, as well as serious bodily injury can be prevented or significantly minimised by sensible and concerted risk management efforts. Speaking at this week’s TOC Container Supply Chain Asia Conference in Singapore, TT Club’s Phillip Emmanuel drew attention to the wide-range of causes leading to insurance claims by transport and logistics operators
Leading freight transport insurer, TT Club, apprises of its support for a unique learning initiative – 'Business on the Move'. The educational tool takes the form of a board game which is designed to be played at varying levels of complexity; suitable for primary and secondary school children as well as higher education students, management trainees and corporate continuous development schemes. TT Club sees the initiative as an imaginative means to educate and inspire young people in
Freight transport insurer TT Club reveals detailed results of its claims survey highlighting tank container incidents: contamination accounts for nearly half with damage to tanks adding another third Speaking at the Asia Tank Container Organization’s General Meeting in Shanghai yesterday, TT Club’s Regional Director, Asia-Pacific Phillip Emmanuel outlined the major risk exposures facing the tank container industry
The TT Club has alerted the supply chain industry to a persistence of claims in a handful of loss types. The international transport, freight and logistics insurance provider said it has found that 66% of its claims by number and 62% by value over a five year period can be categorized into just five causes. The analysis, which was conducted on 7,000 insurance claims each costing more than $10,000 recorded between 2010 and 2014, totaling $425 million
For many years, the Supatra River House on the Chao Phrya River, has been a favorite with Thai and foreign dinners. Situated on the Thonburi side of the river, the most favored approach to the restaurant is by boat. To that end, the owner, Khun Supapan maintains a fleet of beautifully restored
As part of its role as the government entity supporting Dubai International Boat Show 2017, the Dubai Maritime City Authority (DMCA) is taking all the necessary measures to ensure the issuance of marine licenses to boats visiting and participating in the 25th edition of the Middle
Seatrials are underway in Japan involving Ramform Hyperion, the last of four ships built to the seismic sector’s all-time highest specifications, completing a project that shows the way distinctive design also demands innovation from the equipment keeping ships safely in service.
The Virginia Pilot Boat Corporation has ordered a Chesapeake Class MKII launch from Gladding-Hearn Shipbuilding. The MKII, a new generation of the shipyard’s popular, smaller class of pilot boats, is the Virginia pilots’ eighth Gladding-Hearn pilot boat. Delivery is scheduled for 2018
FUSION announced today that it signed a partnership with Ribeye Ltd. Under the terms of the agreement, Ribeye’s full Rigid Inflatable Boat (RIB) range will be offered with the option of either the FUSION BB100 Black Box Entertainment System or the compact RA70 Stereo
Libya's coast guard intercepted at least 1,131 migrants near the western city of Sabratha over the course of a week, a spokesman said on Saturday. Ayoub Qassem said 431 migrants had been intercepted on four inflatable boats off Sabratha's coast on Thursday and some 700 had been picked up on Jan
A cruise ship crew came to the rescue of six men from a leaky Tongan fishing boat, who had not had water for three days. The Rescue Coordination Centre of New Zealand organized for the German cruise ship Albatros to change course at 5 a.m
The Coast Guard rescued three fishermen Tuesday after the fishing vessel they were on caught fire 1 mile east of St. Catherines Island, Georgia. Coast Guard Sector Charleston Command Center watchstanders received a call from a crew member aboard the fishing vessel Sea Puppy at 3:16 p.m
In the last 24 hours, the Coast Guard has identified two tour boats operating illegally out of Pohoiki Boat Ramp and is ramping up enforcement in response to a perceived increase in illegal charters operating in the area to view lava streaming into the ocean from Hawaii's Kilauea volcano.
The National Transportation Safety Board issued a report Thursday identifying the risks associated with the shared use of America’s Marine Transportation System by recreational and commercial vessels. The growth of both commercial and recreational vessel traffic during the last
Four crewmembers aboard the lift boat Superior Trust were rescued after the vessel became unstable near Southwest Pass, La., Wednesday. U.S. Coast Guard Sector New Orleans watchstanders received a call early Wednesday morning reporting one of the Superior Trust’s legs failed and
The National Marine Manufacturers Association (NMMA) has presented the 14th consecutive annual Customer Satisfaction Index (CSI) award to Volvo Penta for its gasoline sterndrive engines. The CSI awards, presented at the Miami International Boat Show Feb
The National Marine Manufacturers Association (NMMA) and Boating Writers International (BWI) today presented Volvo Penta with a 2017 Innovation Award for the Volvo Penta Joystick for Inboard. It is the first and only joystick for twin inboard shaft installations that includes both docking and
With a long history of bringing the very best in Radar technology to both the commercial and recreational markets, Furuno is once again set to raise eyebrows and expectations with the introduction of the new, standalone Color LCD Radar Model 1815
Estuary Services Limited (ESL), a joint venture between the Port of London Authority (PLA) and Peel Ports London Medway, is continuing its fleet replacement plan and buying another new pilot boat for its pilot transfer operations serving the ports of London and Medway.