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TT Club Outlook Improved

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.”

A.M. Best Awards TT Club "A-" Rating

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

Bradley Appointed as New Director For TT Club e-Commerce Initiatives

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 Bradley, a graduate in law from Queen's University, Belfast

TT Club's Reports Strong 2003

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

Convention May Up Terminal’s Liability

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

Seminar Highlights Freight Liability in Russia

Kevin King

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.

TT Club Pinpoints Risks for Logistics Operators

Phillip Emmanuel

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

Business on the Move: Educational Logistics Game

Business on the Move logo

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

Contamination: Primary Cause of Tank Container Claims

Causes of Claims involving Tank Containers: By Volume (2006 – 2014)

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

Top Five Most Costly Insurance Claims

Image courtesy of TT Club

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

Around 20 African Migrants Lost at Sea After Boat Sinks

Around 20 African migrants are missing at sea after their boat sunk in the Atlantic Ocean around 20 miles off the coast of Western Sahara, Spanish sea rescue services said on Wednesday.   Spanish lifeguards rescued 22 African men from the sea late on Tuesday in stormy conditions and

Moose Boats is Keeping Busy

New patrol boat for Placer County Sheriff’s Office (Photo: Moose Boats)

U.S. boat builder Moose Boats announced the delivery of two new vessels, as well as a new build order   Moose Boats, a boat designer and manufacturer in the San Francisco Bay Area, announced two recent vessel deliveries: a M2-35 Catamaran Patrol Boat to the Placer County Sheriff’s

SAFE Boats' Riverine Interceptor for Colombia

Courtesy SAFE Boats International

SAFE Boats International has been selected by the Colombian Navy/Coast Guard to build its new Type-F Riverine Interceptor Vessel.   The contract will provide the Colombian Navy/Coast Guard with a state-of-the-art, shallow draft, aluminum high speed intercept vessel designed to provide

Henriksen Unveils Strongest SOLAS Boat Lifting Hook

Henriksen 22.5 tonne SOLAS lifting hook Photo H Henriksen

  H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release hook has been developed principally for use with heavy workboats while a smaller hook has received SOLAS certification for

Bollinger Delivers 15th FRC to U.S. Coast Guard

Sister Ship of the JOSEPH NAPIER, MARGARET NORVELL operating in the U.S. Gulf of Mexico.

Bollinger Shipyards has delivered the JOSEPH NAPIER, the 15th Fast Response Cutter (FRC) to the United States Coast Guard. The announcement was made by Bollinger’s President & C.E.O., Ben Bordelon. “We are very pleased to announce the delivery of the latest FRC built by

GD Wins $24 mln for Submarine Planning

Photo courtesy of General Dynamics Electric Boat

The U.S. Navy awarded General Dynamics Electric Boat a $24.1 million contract modification to perform reactor-plant planning yard services for nuclear submarines and support-yard services for moored training ships. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Man Rescued from Fishing Boat Near Nantucket

Coast Guard MH-60 Jayhawk Helicopter -  Always Ready

  A Coast Guard helicopter rescue crew medically evacuated a man from a fishing boat Saturday about 20 miles east of Nantucket. The master of the 67-foot fishing boat Sassy Girl, homeported in Virginia, contacted Coast Guard Sector Southeastern New England watchstanders at about 3 p.m

Tour Boat Sinks in Canada, Five Dead

The whale watching boat Leviathan II sits partially submerged in the ocean west of Tofino. Photograph By Albert Titian, via Facebook

 At least five people died after a whale watching boat with 27 people on board sank off Vancouver Island and a rescue mission remained active late Sunday, says Canadian authorities.   21 other people have been recovered from the water, says Lt

Maritime Security Demand Keeps US Builders Busy

Photo: Kvichak

Export hulls – through the FMS Program, as well as Direct Sales – are a key piece of the business model. Even as the crash in energy prices feeds the oversupply of offshore support vessels – a key staple of U.S. boatbuilding diets – and the dwindling backlogs of some

Gobbler OSRV Harnesses Fire Suppression Tech

Photo courtesy of Gobbler Offshore

The new Gobbler Offshore 290 oil spill recovery vessel (OSRV) not only excels at remediation, but harnesses the latest in environmentally sound fire suppression technology, according to its developer. The boat comes standard with a Sea-Fire pre-engineered system and 3M's Novec 1230 Fire Protection

Two New SAR Vessel Designs from Tuco Marine

Image: Tuco Marine

Tuco Marine has launched two new search and rescue (SAR) vessel designs approaching next week’s Europort in Rotterdam.   The boats have been developed upon international requests and designed by a team of engineers in collaboration with naval experts

Six Infants Drown as Migrant Boat Capsizes off Greek Island

Migrants make their short but dangerous crossing from Turkey to Greeces eastern islands

  Eleven migrants including six infants drowned when their boat capsized off the Greek island of Samos, trapping most of them in the cabin, the coast guard said on Sunday. Fifteen others were rescued when the six-metre boat sank in the early hours near the coast of the Aegean island.

Riders on the Storm

High performance Zodiac Hurricane RHIB with shock mitigation.jpg

It’s no shock that decking, seating and other related equipment for ‘fast boats’ is a critical ingredient for maritime security personnel. A  shock mitigation strategy is essential for all craft that undertake open sea transits or operate in rough water

Lobster Boat Catches Fire off Massachusetts

Lobster boat Dawn Breaker ablaze near Ipswich, Mass. (Photo: U.S. Coast Guard)

Emergency personnel are responding to a 28-foot lobster boat ablaze near Ipswich, Mass., Friday, the U.S. Coast Guard reported.   The lobster boat’s operator hailed Coast Guard watchstanders at about 9:30 a.m. stating his boat Dawn Breaker was on fire and he was abandoning ship after

New RIB Delivered to Vermont State Police


The Vermont State Police Department Marine Division has taken delivery of a specialized RIBCRAFT 7.8 RIB built by RIBCRAFT, a U.S. manufacturer of professional grade rigid inflatable boats for safety professionals, law enforcement and military agencies.  

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