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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


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


Need for Latin American Transport Infrastructure Investment Highlighted

TT Club logo

TT Club’s Senior Underwriter, Dan Negron, speaking at the recent TOC Americas Conference in Miami outlined his views on future Latin American trade growth and the pressures that this will create on the region’s transport infrastructure. Excerpts from his address follow: “Two examples of robust economies are Colombia and Peru.  The latter has grown its export trade by a multiple of five over the last decade


Brown Appointed as Asia Pacific Regional Director for U.K. P&I Club

Christopher Brown has been appointed Asia Pacific Regional Director of the UK P&I Club from October 1st. He will also be responsible for providing services to all Thomas Miller’s managed Clubs, particularly UK P&I, TT, UK Defence, ITIC and the Lloyd’s insurer Dex. Based in Hong Kong, Brown will head Miller’s regional management team, leading the offices in the region and supported by experienced managers Nick Sansom in Singapore and Barton Phillips in Sydney.


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


Poor Container Packing Costing Industry Millions

CTUpack e-learning (Screen Shot).png

CTUpack e-learningTM course launched to combat bad practice in warehouses and other packing facilities. Analysis by specialist transport and logistics insurer TT Club has revealed that as many as two thirds of accidents that involve the loss of, or damage to, containerised cargo are thought to be caused by poor or improper packing and securing.  Such a finding is echoed by the ocean carriers’ Cargo Incident Notification System (CINS)


Houston Ship Channel Man Overboard Swims to Island

Rescued man (C) & rescue crew: Photo USCG

The U.S. Coast Guard informs of the rescue of a 62-year-old man who was stranded on Atkinson Island, after he fell off his boat in the Houston Ship Channel near Sylvan Beach and swam to the island. Watchstanders at Coast Guard Sector Houston-Galveston received a call from a mariner transiting


Update to Fire Damage to Australian Patrol Boat

Armidale Class Patrol Boat HMAS Bundaberg suffered significant damage due to a fire which occurred on Monday, August 11, 2014 in Brisbane. The boat was undergoing routine maintenance at the Aluminium Boats Australia commercial facility when the fire started.


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


First Two Mooring Boats Launched for Port of Ras Laffan

Photo courtesy of Nakilat Damen Shipyards

Nakilat has celebrated the delivery of two 16-meter mooring boats built by shipbuilder Nakilat Damen Shipyards Qatar for towage operator Nakilat Svitzer Wijsmuller. The built-in-Qatar vessels will be operated at the Port of Ras Laffan. The two Stan Tug 1606 mooring boats


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Xervo and SH Group Expanding in Norway

Credit: Somaneset aerial photos.

The possible introduction of the NORSOK R-002 standards means there’s a big job to be done upgrading the lifeboats and rescue boats onboard the rigs already operating in the Norwegian sector. In order to meet the growing demand, SH Group and its subsidiaries Xervo and Sepro Technology are


USCG Issues Boating Under Influence Citation in Massachusetts Bay

    ..

  Coast Guard law enforcement crews issued a boating under the influence citation to the operator of a vessel late Sunday night in Massachusetts Bay. Watchstanders at Station Point Allerton received notification of a 12-foot Boston Whaler that was adrift and disabled off of Nantasket Beach


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


New Fairport Coast Guard Facility Opened

Fairport opening ceremony: Photo USCG

The Coast Guard says it has held a ribbon-cutting ceremony marking the completion of a new building at Station Fairport located in Grand River, Ohio. The new 18,000 square foot station building meets Leadership in Energy and Environmental Design standards and includes a modern command


Indonesian Tourist Boat Sinks - 15 Missing

Fifteen foreign tourists were missing on Sunday after a boat travelling between islands in eastern Indonesia sank, an Indonesian search-and-rescue official said. Suryaman, based on the island of Lombok, told Reuters that 10 people had been rescued after the ship sank on its way from that island


MN 100: All American Marine, Inc.

Sea Scout.jpg

200 Harris Ave. Bellingham, WA 98225 Telephone: 360 647 7602 E-mail: jhudspeth@allamericanmarine.com Website: www.allamericanmarine.com CEO/President: Matt Mullett Number of Employees: 48 The Company: All American Marine Inc., located on the shores of Bellingham Bay in Washington State


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Two Boat Migrants Die, 1,500 Saved Off Italy

Two boat migrants died among almost 1,500 rescued by Italy in the last 24 hours, authorities said on Friday as the total number reaching Italian shores this year passed 100,000. Italy's interior minister said it was "proud to be saving lives" of migrants who have been streaming out of


Emergency Beacon, Preparedness Save Mariner Off Diamond Head

Emergency Beacon

The Coast Guard rescued a man in a life raft after his sailboat sank approximately seven miles south of Diamond Head, Tuesday. Watchstanders at the Coast Guard Sector Honolulu command center overheard a brief mayday call over VHF channel 16 at 7:43 p.m., with no additional information.


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners






 
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