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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 TTXpress.com. 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


21 Dead as Cargo Ship Hits Party Boat North of Cairo

Image courtesy: SOLYMONE

 Egypt's health ministry said that the death toll from a collision of a cargo ship with a boat carrying people celebrating an engagement, on the Nile the night before has risen to 21, as divers searched for missing passengers.   There were more than 35 people attending a party on board


Nile Collision Death Toll Rises to 31

The death toll from a boat collision on Egypt's Nile river Wednesday has risen to 31, a ministry of health spokesperson told Reuters on Friday. The accident occurred on the Nile near Giza, across the river from Cairo, when a barge collided with and overturned a small recreational boat carrying


Five Rescued from Yatch in Solent, UK

Solent Coastguard maritime rescue office. Photo: UK Coastguard page

 Five people have been rescued from the Solent after their small leisure boat suffered engine failure and began taking on water.   The occupants of the boat made a 999 call to the Coastguard but were unable to give a precise location which caused the emergency services to launch a


Injured Woman Rescued on Lake Washington

Coast Guard Chief Petty Officer Jeff Wildes from Station Seattle works with local responders to stabilize and prepare an injured woman for transport on Lake Washington, Seattle, Aug. 2, 2015

  Coast Guard, Seattle Police Department, Seattle Fire Department, King County Sheriff’s Office and Washington Department of Fish and Wildlife personnel rescued a woman after she sustained a leg injury after reportedly being struck by a boat propeller on Lake Washington


Four Rescued From Burning Boat in Lake Michigan

A charred 20-foot boat is towed to shore after it burned on the Grand River near Grand Haven, July 5, 2015. The Coast Guard and a good Samaritan rescued four people who jumped into the river to escape the fire. (U.S. Coast

The Coast Guard and a good Samaritan rescued 4 people after their 20-foot boat caught fire on the Grand River, Sunday. A boat crew from Coast Guard Station Grand Haven was on an afternoon boat safety patrol near the Grand Haven Power Plant at about 3:45 p.m


USCG Saves Sailor in Gloucester, Mass.

Crews from Coast Guard Station Gloucester responded to the report of an overturned vessel and person in the water in Gloucester Harbor, Mass., July 7, 2015. (Coast Guard Photo by Petty Officer 2nd class Cynthia Oldham)

  A crew from Coast Guard Station Gloucester, Mass, rescued a man after his sailboat capsized near the station in Gloucester Harbor Tuesday. At 3:35 p.m., the station received a call from the harbor master that the 14-foot sailing vessel had overturned with one person aboard.


Volvo Penta Pilots the Way

Photo: Volvo Penta

Despite the conservative reputation of the pilot boat industry, Pilotage de la Seine, a French pilot boat station, decided to think outside the box and install Volvo Penta IPS in two of its vessels. According to Volvo Penta, the benefits the station has seen have been extensive, signaling, perhaps


TT Club Urges Immediate Action on Box Weighing

File photo

Provider of insurance and related risk management services to the transport and logistics industry TT Club said it welcomes the initiative of the World Shipping Council (WSC) in its recent publication of guidelines to the industry in relation to implementing the SOLAS requirements that become


N-KOM Records Safety Milestone

N-KOM and GDI management and project teams pictured together to celebrate the achievement of 1 million safe man-hours on the liftboat new-building project. (Photo: N-KOM)

Nakilat-Keppel Offshore & Marine (N-KOM) informs it has achieved its first safety milestone on its liftboat new building project, with the successful completion of one million safe man-hours without any lost-time-incidents (LTIs). The self-propelled and elevating lift boat is being constructed


Navionics SonarChart Compatible With Sounder

Real-Time Chart Generation Tool Expands List of Compatible Plotters and Sounders to Allow All Boaters to Wirelessly Monitor Improvements to Charts as they Occur

  Navionics, the leader in content and location-based services for the recreational boating and outdoor markets, announced today the latest details of its award-winning SonarChart Live. Now offering compatibility with Raymarine Dragonfly PRO and Wi-Fish systems


Kalmar Bags order from ÖBB-Infrastruktur

cargo handling equipment for general cargo and intermodal operation at the ÖBB-Infrastruktur AG terminal

  Kalmar, part of Cargotec, has been awarded a valuable order from long-standing partner Österreichische Bundesbahnen (ÖBB) to supply cargo handling equipment for general cargo and intermodal operation at the ÖBB-Infrastruktur AG terminals at Wolfurt


Rotterdam Oil Terminal Shelved as Russians Balk

Rotterdam, Europe's largest port, said on Thursday that plans to build an oil storage terminal for 1 billion euros ($1.1 billion) had been cancelled after its Russian partner raised concerns over the project's feasibility. The project, intended to store Urals crude oil and oil products


SAFE Boats Wins USN Patrol Boats Order

Mk VI Patrol Boats

  SAFE Boats International (SBI) has been awarded a contract modification to provide the United States Navy two (2) additional Mk VI Patrol Boats (Mk VI PB). The contract modification exercises the options available on the second Mk VI procurement contract


Flexible Pod System Key to WFSV Versatility

Photo: CTruk

workboatd designer and builder CTruk cites versatility as a key factor in Offshore Turbine Services’ (OTS) acquisition of seven 18.5-meter wind farm support vessels (WFSV) over the past three years.   OTS has worked its CTruk fleet all around the U.K


USCG Rescues Woman from Missouri River

Photo Coast Guard

  Crewmembers from the Coast Guard Cutter Gasconade rescued a woman from the Missouri River near the I-680 Bridge, Monday. While at homeport, a crewman working late to mow the grass heard screaming and saw the woman floating down the river.






 
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