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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.


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


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


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


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


5 Tunisian Migrants Die in Shipwreck

A member of Tunisias national guard aboard a fishing trawler off the coast near the border with Libya (AFP) Photo MEE

  At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying dozens capsized on Saturday off the coast of Monastir ... Naval forces rescued 49 Tunisian migrants and recovered five bodies


Italy: 900 Migrants Rescued at Sea, One Dead

More than 900 migrants were rescued in one day from three overcrowded boats en route to Europe from North Africa, an Italian coast guard official said on Thursday. One body was recovered. All the rescues were carried out on Wednesday, the official said


No Word on Hundreds of Migrants Pushed Back to Sea

A migrant boat pushed back to sea by Southeast Asian nations over the weekend has not been heard from for two days, raising concerns about what has happened to the 300 people on board, rights groups said on Monday.   The boat was pushed backwards and forward between Malaysian and Thai


USCG Stresses Importance of Free Vessel Safety Checks

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  As National Safe Boating Week continues, the Coast Guard 9th District is reminding boaters Sunday to get a free vessel safety check from the Coast Guard Auxiliary before going out onto the lakes this boating season. The Coast Guard Auxiliary is an all-volunteer force that keeps the


Boaterz n Bikerz Hull of a Tour Launches Freedom Ride

The nine-day, 2000-mile motorcycle and boating tour attracted 30 members of the boating industry

  The Boaterz ‘n Bikerz Hull of a Tour² launch of “The Freedom Ride” throttled forward yesterday from Freedom Boat Club’s Marina Jack location in downtown Sarasota, FL.   The nine-day, 2000-mile motorcycle and boating tour attracted 30 members of the


USS Cairo: Crew Safety and Fleeting Efficiency

Photo courtesy of Carline Industries

Over that past 15 to 20 years there has been a revolution in U.S. ship docking tugs. Larger container ships and tankers made obsolete the conventional single and twin propeller tugs that could serve either line haul or ship docking functions


USCG Releases Recreational Boating Report

The U.S. Coast Guard (USCG) released its 2014 Recreational Boating Statistics, revealing boating fatalities that year totaled 610, the second-lowest number of yearly boating fatalities on record.   From 2013 to 2014, deaths increased from 560 to 610, an 8


Refugees Arrive in Malaysia, Indonesia after Thai Crackdown

Malaysia detained more than a thousand Bangladeshi and Rohingya refugees, including dozens of children, police said, a day after authorities rescued hundreds stranded off the coast of Indonesia's western tip. There has been a huge increase in refugees from impoverished Bangladesh and Myanmar


Blyth Workcats to showcase Catamaran Designs at Seawork

Design evolution of Blyth Workcats will be on display at Seawork on Stand B27

  The design evolution of Blyth Workcats will be on display at Seawork on Stand B27 where the company will be showing examples from its versatile range. Well known for their robust seaworthiness and economical performance, workboats from this well-established Essex yard are able to perform


Blyth Workcats Delivers Aqualink

Aqualink (Photo: Blyth Workcats)

The first two-deck boat ever built by Blyth Workcats has recently been delivered to a customer in Belgium. The 18-meter Aqualink is the first Blyth Workcat to feature a high bridge and it has now entered service with Ostend Marine Services for which it has been designed to undertake a wide range


Libya's Coast Guard Detains Almost 600 African Migrants

Libya's coast guard detained on Wednesday almost 600 illegal African migrants, among them pregnant women and 18 children, who had tried to sail to Europe on a fishing boat, a security official said. The North African country, gripped by violence and a breakdown of state authority four years


Willard to Present at High Speed Boat Operations Forum

Bobby Beck (Photo: Willard Marine)

Willard Marine, a manufacturer of aluminum and fiberglass commercial and military boats, will present at the High Speed Boat Operations (HSBO) Forum in Lisbon, Portugal from May 4-6.   The HSBO Forum, gathers professionals from around the world to discuss new development, research


Canada Announces Funding for Commercial Fishing Safety

Canada launches new Commercial Fishing Safety component of Boating Safety Contribution Program   Canada’s Minister of Transport Lisa Raitt, joined by Members of Parliament from Atlantic Canada, announced a new Commercial Fishing Safety component of the Government of Canada's Boating


Grounding Kills 1, Injures 2 in Charleston Harbor

One person was killed and two people were injured when a boat ran aground on Shutes Folly off Charleston, South Carolina, late Thursday evening, the U.S. Coast Guard reported.   One man was killed after being ejected from the vessel.  Two female passengers were treated for injuries and


‘Beware the Big Ship Hype’ -TT Club

Phillip Emmanuel (Photo: TT Club)

TT Club’s Phillip Emmanuel has put into perspective some of the “sensationalism” surrounding the recent growth trend in containerships. Speaking during a plenary session of the TOC Asia Conference in Singapore on Tuesday, he advised ports and terminals to take a measured approach






 
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