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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


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


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.


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


Poor Container Packing Costing Industry Millions

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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)


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


‘Green’ Hybrid-powered Research Vessel Christened

The $2.7 million environmentally friendly research vessel, Spirit of the Sound (Photo courtesy of the Maritime Aquarium at Norwalk)

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining, monitoring and teaching about Long Island Sound. The $2.7 million environmentally friendly research vessel


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


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


US Aircraft Carrier Crew Rescues Fishermen

A fire destroys a fishing boat in the Atlantic Ocean about 90 miles off the coast of Florida. (U.S. Navy photo by William Spears)

Sailors and Marines aboard the U.S. Navy aircraft carrier USS Theodore Roosevelt (CVN 71) assisted two fishermen aboard a fishing vessel engulfed in flames off the east coast of Florida, Sept. 29. Theodore Roosevelt watchstanders spotted a rescue flare around 4:30 a.m


Pay-As-You-Go Satellite TV Service

Image: KVH

KVH TracVision owners in the U.S. can now enjoy satellite TV from DISH Network on their boats and pay only for the months of service they use KVH Industries, Inc., is bringing the benefits of “Pay-As-You-Go” satellite TV service from DISH Network to customers in the marine market


SAR Underway for 300 Stranded at Sea

A search and rescue operation was underway off Cyprus on Thursday for 300 people stranded at sea who authorities suspect may be refugees from Syria. Authorities said they received a distress signal early on Thursday morning from a small vessel sailing some 50 nautical miles (92 km) south-west


Specialty Workboat Missions Propelled by Innovative Engines

D6-330 Stern Drive.jpg

Volvo Penta allows operators to save on fuel, cut emissions and most importantly – get the job done, in a wide array of conditions and mission sets. Volvo Penta of the Americas is delivering fuel efficiency, reducing emissions and raising performance as it powers U.S


Moose Boats’ Fire Rescue Catamaran

Richmond_FD_pumping.jpg

Specialty workboats redefined: versatility, value and multi-mission capabilities, all rolled into one affordable hull. In a world where small to medium sized municipalities and port authorities have to make every dollar go a long, long way, any opportunity to leverage just one hull over multiple


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


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


General Dynamics Bags U.S. Navy Nuclear Submarine Contract

US Navy

  The U.S. Navy has awarded a $311 million contract to General Dynamics Electric Boat to provide planning yard work, engineering and technical support for nuclear submarines. Electric Boat is a wholly owned subsidiary of General Dynamics.


USCG Remembers 72nd Anniversary of Douglas Munro's Death

Wreaths are laid at the foot of the Douglas Munro statue during a ceremony honoring the 72nd anniversary of his sacrifice, Sept. 27, 2014. Munro is the only member of the Coast Guard to receive a Medal of Honor for his hero

  Coast Guardsmen and recruits gathered to remember the sacrifice of the Coast Guard’s only Medal of Honor recipient aboard Training Center Cape May, Saturday, Sept. 27. The crew of Training Center Cape May gathered at a statue erected in Douglas Munro’s honor to mark the


Seakeeper Launches 5 New Models

Seakeepers 5 models

Seakeeper proudly introduces five new models, offering stability and roll reduction for vessels 30’ and larger! The product range now includes the Seakeeper 5, 9, 16, 26 and 35 models, with gyros that are smaller and more powerful than ever.


New Semi-self-righting Lifeboat for KNRM

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On September 20, on KNRM station Texel a new lifeboat named Cornelis Dito type Fast Rescue Craft 903 - Twin was taken into service by the Royal Netherlands Lifeboat Organization (KNRM). The lifeboats a Fast Rescue Craft 903 - Twin, designed by Pieter Meuzelaar (Dutch Special Marine Group) and


World's Largest Fast Crew Boat Powered by HamiltonJets

70m Crewboat with 4 HamiltonJet HT900 waterjets

The world’s largest Fast Crew Boat has recently been launched by Incat Tasmania’s shipyard on the 15th of September 2014.   This DP2 class 70m Fast Crew Boat (FCB) will be operating as a fast crew transfer vessel to various installations in the Caspian Sea and has a semi-SWATH






 
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