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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


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


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


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.


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


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


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


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


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


C. Raymond Hunt Associates Celebrates 50 Years

(Photo: C. Raymond Hunt Associates)

C. Raymond Hunt Associates, a boat design firm that continues to expand on the legacy of its founder, C. Raymond Hunt, to produce innovative boats with rugged seaworthiness, is now celebrating its 50th year.   “Ray Hunt was a genius


B&G Software Upgrade for Zeus2 and Vulcan Chartplotter

Zeus² is an easy to use, ultra-responsive, multi-touch chartplotter packed with Award Winning sailing features Photo B&G

B&G, the world’s leading sailing navigation and instrument specialist has upgraded its latest software for the full range of Zeus2 and Vulcan chartplotters. The new software upgrade enhances B&G chartplotters, allowing users to wirelessly download high-resolution weather


Team Britannia, GAC Inks Partnership Deal

GAC & Team Britannia sign deal Image GAC

As Team Britannia prepares for its bid to break the round-the-world powerboat record later this year, GAC has been named their official shipping and logistics partner. GAC will draw on the local contacts and expertise of its network of global offices and partners to provide the 80ft powerboat


Lake Assault Fireboat Assists with Foss Lake Wildfire

Photo courtesy of LVFB

A Lake Assault fireboat, owned and operated by the Lake Vermilion Fire Brigade, provided support for wildland firefighting efforts during the Foss Lake wildfire near Ely, Minn. earlier this spring.   The 33-foot craft was used to haul up to 20-person crews


Volvo Penta’s IPS System a Boon to Ferries Operators

The Antares boat on the sea around the Amalfi coast. Photo Volvo Penta

A new passenger ferry, Antares, has been launched from the Italian city of Naples and is the first boat of its kind in the region to be installed with Volvo Penta’s ingenious Inboard Performance System (IPS). The installation of IPS 900 showcases Volvo Penta’s state-of-the-art


Neches River Traffic Restricted due to Sunken Boat

Vessel traffic on the Neches River is restricted as a result of a shrimp boat that sank Monday morning. At approximately 3 a.m., the Captain Kevin sank in the Neches River, causing oil sheen and one minor injury. The vessel is currently located approximately 1500 feet from the end of the


General Dynamics Bags US Navy's VPM Contract

Courtesy  General Dynamics

General Dynamics Electric Boat has been awarded a $116 million contract modification for the continued development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The VPM will comprise four large-diameter payload tubes in a new


Italy Rescues 4,500 Migrants in Mediterranean in one day

In the Mediterranean Sea in 2014, Lt. Kathleen Kostka, from Memphis, Tenn., and Lt. John Yosay, from Boardman, Ohio, both attached to Fleet Surgical Team 4, provide medical attention to migrants aboard the multipurpose amphibious assault ship USS Bataan (LHD 5).  (U.S. Navy photo by Mass Communication Specialist 1st Class Julie Matyascik/Released)

ROME, July 5 (Reuters) - Some 4,500 migrants were rescued from rubber dinghies and a wooden boat in the Mediterranean on Tuesday, Italy's coast guard said, as the sea calmed after a rough weekend.   More than 67,000 migrants have arrived in Italy by sea so far this year


First MAN D2676 Workboat Engine Ready for Launch

The Gilnetter LT32 from Mavrik Marine is set to be launched in late autumn 2016. (Photo: MAN Engines)

Last December, MAN Engines introduced its latest generation in-line six-cylinder engines for workboats. Now the first MAN D2676 LE443 engine off the production line will be installed aboard the new salmon fishing boat, LT32 Gilnetter, built by the Mavrik Marine boatyard in Washington State and set


More than 2,000 Migrants Rescued at Sea -Italy Coastguard

File photo: Italian Navy

Ship crews pulled more than 2,000 migrants from overcrowded boats in the Mediterranean on Friday, Italy's coastguard said, as people smugglers stepped up operations during two consecutive days of good weather.   More than 7,100 people have now been plucked from international waters since


Boat Migrant Rescues Surge as Calm Seas Return to Mediterranean

Ships manned by humanitarian organisations, the Italian navy and the coast guard helped rescue more than 2,000 boat migrants on Thursday as calm seas returned to the Mediterranean prompting a surge in departures.   The Topaz Responder


Indonesia Again Seizes Chinese Fishing Boat

Photo: Indonesian navy

 Indonesian navy officials detained a Chinese boat along with seven Chinese crew members for allegedly fishing in Indonesian maritime territory in the disputed South China Sea region, Ap reported quoting Indonesia's navy spokesman.  


New Dive Boat for Delaware State Police

Delaware State Police has taken delivery of its new dive boat, a RIBCRAFT 5.85.   RIBCRAFT, manufacturer of professional grade rigid inflatable boats (RIBs), built the 19' RIB for the State Police's SCUBA team to be used in search and recovery missions in the many waterways of Delaware


Newport Unveils Education Series for this year’s Boat Show

Photo Newport

 Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today the 2016 Education Series for this year’s Boat Show. Greatly expanding on past offerings, the Newport International Boat Show will host  on-water courses


Abu Dhabi Ports Marine Subsidiary Rebranded as SAFEEN

Photo: Abu Dhabi Ports

 Abu Dhabi Ports, the master developer, operator and manager of ports and Khalifa Industrial Zone (Kizad) in the Emirate, has renamed its subsidiary, Abu Dhabi Marine Services, as ‘SAFEEN’ –meaning ships in Arabic- in a bid to rebrand itself.






 
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