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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


MN100: Brunswick Commercial and Government Products

Photo:  Brunswick Commercial and Government Products

The Company: Brunswick has been in the business of building boats for commercial and military applications for more than fifty years. From its beginnings as an arm of the legendary Boston Whaler brand to now – part of Brunswick Corporation


Boat Sinks in Indonesia: 10 dead, 5 missing

Tanjung Pinang of Riau province. Photo Courtesy: KGIS company

 Ten people have drowned while five are still missing after a wooden boat carrying 17 people capsized in the province of Riau Islands on Sunday morning, reports the Jakarta Post.   The boat capsized in rough seas and sank off Indonesia's Bintan island, south of Singapore.  


Extreme Boat Lifts Installed in the Panama Canal

Photo: Golden Boat Lifts

When the Republic of Panama needed lifts for a pair of its service boats, it turned to Golden Boat Lifts for the supply of two custom-designed 7,000 lb. capacity Golden Elevator Lifts for use in the Panama Canal.   According to Golden Boat Lifts


Tuco’s New Arctic Workboat to Debut at SMM

Image: Tuco Marine

Danish producer Tuco Marine said it will reveal a new Arctic workboat daughter craft at next month’s SMM in Hamburg.   Many arctic patrol vessels, icebrakers and polar research vessels are currently under development and construction worldwide


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


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


Brunswick’s All New 1100 IMPACT D-Collar

web IMG_2809.jpg

Marine News July 2016 Boat of the Month   At a trade event held in Baltimore, MD, Brunswick unveiled its most exciting hull to date. First on board to test drive the new vessel was Marine News Editor Joe Keefe. An exhilarating 35 minute cruise revealed all of the exciting features the new


ReCAAP Report on Crew Abduction in SE Asia

Map:  The Standard Club

 In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Philippines, the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia Information Sharing Centre (ReCAAP ISC) published a special


Canada's Largest Electric Tour Boat Launched

Queen Elizabeth Dr. (Photo: Torqeedo)

A new, emission-free electric tour boat now plies the Rideau Canal, powered by two 80 horsepower Torqeedo electric motors.    The 75-foot, 100-passenger vessel Queen Elizabeth Dr. is the first of two planned vessels to offer guided tours and host events on the canal


USN Licenses Boat Design from Willard Marine

Photo Willard Marine

The United States Navy and Willard Marine have executed a licensing agreement for a Willard Marine boat design to serve as the guideline for the Navy’s new 11-meter rigid hull inflatable boat (RIB) government design. For 27 years, Willard Marine has designed and built U.S


Vietnamese Boat Collides with Hong Kong Cargo Ship

Vietnam Coast Guard. Photo courtesy: Global Security

Hong Kong-flagged cargo ship, Rich Better, collided with and sank Vietnamese squid boat BD 96660 in the East Vietnam Sea on August 2, 2016.   According to Tuoi Tre News, six Vietnamese sailors are safe and being taken to mainland China to await pick-up by Vietnam’s authorities.


Custom Fireboat Delivered in Texas

Photo: Lake Assault Boats

Lake Assault Boats, manufacturer of purpose-built and mission-specific fire and rescue boats, has placed into service a 28-foot fireboat with the City of Conroe Fire Department in Conroe, Texas. The craft was delivered in mid-May.   Assistant fire chief for the City of Conroe Fire Department


Shipbuilding: P3 Projects (with a Twist)

Credit: Vigor

Private partnerships, executed perfectly – that’s West Coast boatbuilding in today’s challenging business climates.      P3 Partnerships: no, we’re not talking about infrastructure funding. But, in our P3 version


Spain Rescues 50 Migrants Drifting between South Coast and Morocco

Spanish authorities said on Wednesday they had rescued 50 migrants from Morocco and sub-Saharan Africa who were found the day before drifting in two boats off Spain's Mediterranean coast.   Spain's maritime rescue service said it first spotted an inflatable boat with six Moroccan men stuck


MN100: Blount Boats, Inc.

Marcia Blount (Photo: Blount Boats)

The Company: Over time, the Blount shipyard has built more than 365 vessels. Today, Blount Boats’ clients include Fire Island Ferries, Casco Bay Island Transit District, Puerto Rico and Municipal Islands Maritime Authority, Spirit Cruises, Circle Line Statue of Liberty (Hornblower)






 
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