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Fire Insurance

Safety Program for Commercial Fishing Vessels

The Chesapeake Marine Training Institute (CMTI) offers a maritime safety program specifically for commercial fishing vessels. “Since its inception, hundreds of boats and crew members have completed the program and the demand just keeps increasing,” said John O’Leary, maritime safety instructor for CMTI and the head of the safety and survival program. “In an industry that is already struggling, the program is becoming increasingly requested and thanks to the funding of the insurance companies, we can continue to grow and increase its numbers.” This program is offered by Sunderland Marine Mutual Insurance Company, Ltd through Brown and Brown Flagship in a joint effort to reduce casualties. Established in 2005, the program is offered to commercial fishing vessels and its owners, on a volunteer basis. In 2008, over 100 vessels and crews completed the program. Initially available in the mid-Atlantic region, it is now available for commercial fishing vessels from North Carolina all the way to Cape May, New Jersey. According to Chris Burns, executive vice-president and general manager of Brown & Brown Flagship, “We are fully invested in this program. A safer crew makes for a safer vessel and it is a win-win situation for everyone. It’s clear that fewer accidents equal less loss of life and property equal lower claims equal lower insurance costs to the vessel, etc… the list goes on


Conference Focuses on Fire

Who is in charge when a land-based fire brigade responds to a blaze at sea? What are the fire risks for ships in port and under construction? How can design and technology enhance marine fire protection? Prevention, detection and control on ships and offshore structures will be examined at a new forum in London in March by key personnel including ship owners and managers, ship and harbour masters, safety officers, marine and fire protection engineers


R&B Falcon Drilling Barge Destroyed In Explosion

R&B Falcon Corp. reported one of its inland drilling barges was destroyed in an explosion and fire at a natural gas well in southern Louisiana but nobody was injured. The company believes the loss of the barge, Rig 16, worth about $15 million, will be covered by its insurance and would therefore not have a material financial impact. The explosion occurred on July 1 at a well being drilled for The Meridian Resource Corp. two miles southeast of Amelia, La


Shipowners Raise Onboard Security Amidst Mideast Fighting

With the worsening conflagration in Lebanon-Israel and the resulting consequences for maritime traffic, ship operators are bracing themselves for a hike in war risk insurance premiums for vessels that transit the Eastern Mediterranean. The 12-member Europe Mediterranean Trade Agreement that includes A.P. Moller-Maersk, Mediterranean Shipping Company and CMA CGM issued a statement: "In the event that extra costs do arise for war risk insurance


LIG Marine Managers 2011 CMIP Seminars

LIG Marine Managers’ sister company, LIG Educational & Consulting Services, in conjunction with the International Institute for Marine Insurance Studies, announced the 2011 CMIP Seminar Schedule for those individuals working towards earning the Certified Marine Insurance Professional (CMIP) Designation.    The designation is designed for agents, brokers, CSRs, Insurance Company Personnel, Underwriters or other insurance industry professionals who wish to expand their


Denmark Updates Insurance Claims Requirements

Ships without P&I insurance for maritime claims must inform the Danish Maritime Authority about their insurance Danish ships with a gross tonnage of or above 300 without a Certificate of Entry in a P&I Club from the international group of P&I clubs must inform the Danish Maritime Authority about alternative insurance for maritime claims before March 31, 2014. Danish ships with a gross tonnage of or above 300 must carry a certificate confirming that insurance has been taken


Court Interprets Settlement Agreement

The U.S. Court of Appeals for the First Circuit interpreted a settlement agreement between an insurance company and a shipowner in order to determine whether the insurance company was entitled to share in the shipowner’s subsequent settlement with a third party in a claim relating to loss of the ship. Home Insurance Company v. Pan American Grain Manufacturing Co., Inc., No. 03-2625 (1st Cir., February 4, 2005)(HK LAW)


Legal Notes

Repair Duty Repealed President George Bush has signed into law legislation repealing a four year old rule imposing a 50% duty on the cost of routine repairs and maintenance carried out by U.S. merchant mariners while their vessel is at sea. The elimination of the duty, which customs authorities have levied on US-flag carriers since April 2001, represents a victory for the domestic shipowning community. The community has lobbied hard against it since its introduction.


Moore Stephens Says Insurance Industry Must Embrace Business Intelligence

Regulatory developments mean that failure to make proper use of business intelligence systems and actuarial consultancy to assess risk could lead not only to significant financial losses but also to disciplinary penalties for insurance underwriters and brokers, according to leading accountant and consultant Moore Stephens. John Harbor, head of the Moore Stephens Insurance Industry Group, says, "Professional risk analysis and modern data management techniques are


Insurance Industry Instability Triggers Upward Trend

By Trey Bryant Commercial Marine & Insurance Brokers Having been rather "soft," or in layman's terms "very competitive" for the last several years, the marine liability insurance market has begun what appears to be an upward trend in the pricing cycle over the last few months. There are, to be certain, several factors influencing this trend. The collapse of marine insurance giant Reliance Insurance Company and its subsidiaries has caused quite an uproar among various underwriters still


Coast Guard Investigating Fatal Boating Collision

The Coast Guard is investigating a fatal collision between a towboat and a pleasure craft near Cincinnati, Thursday evening. Watchstanders at Coast Guard Sector Ohio River Valley received notification of the incident from the Bellvue-Dayton Fire Department


PSC CIC on Fire Safety Systems by Riyadh MoU

  ClassNK has informed that Six countries viz. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE of the Riyadh MOU in the Gulf Region are planning the following PSC Concentrated Inspection Campaign (CIC); Items of concentrated inspection : Fire Safety Systems (SOLAS Chapter II-2 and FSS


Fire at Milazzo Refinery Impacts Docks

Inchcape Shipping Services  is advising of extensive disruption after a fire broke out Friday afternoon (27 September) at Italy’s energy giant Eni and Kuwait Petroleum’s jointly owned Milazzo oil refinery, near the northeast coast of Sicily.


NY Harbor Supply & Distribution Fall Reception/Buffet

More than 600 attendees are expected at the 52nd annual New York Harbor Supply & Distribution Fall Reception/Buffet for the energy and energy related industries at the NY Hilton Hotel Trianon Ballroom, New York on Thursday, October 16, 2014.


IGCC System for Tokyo Electric Power

Artists View of IGCC Plant

  A consortium led by Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has received an order from Tokyo Electric Power Company, Incorporated (TEPCO) for design work for a large-scale integrated coal gasification combined-cycle (IGCC) system to be adopted for a project to create the world's most


Lake Charles Tugboat Engine Room Fire Extinguished

Fire fighters: Image credit KVH

The Coast Guard informs that along with the Black Bayou Fire Department it has responded to a tugboat on fire near Lake Charles, Louisiana. At approximately 1:15 p.m., Tuesday, watchstanders at Coast Guard Sector Houston-Galveston Command Center received a report from the captain of the tug


Ship Safety: IMO Committee Agree Draft IGF Code

First vessel to burn LNG fuel - Bit Viking: Photo DNV GL

IMO informs that the draft International Code of Safety for Ships using Gases or other Low flashpoint Fuels (IGF Code), along with proposed amendments to make the Code mandatory under SOLAS, have been agreed by the inaugural session of the Sub-Committee on Carriage of Cargoes and Containers (CCC 1)


USCG Crew Rescues Three in Tomales Bay

  The Coast Guard rescued three individuals from the water in Tomales Bay, Sunday morning. At approximately 8:30 a.m., Coast Guard Sector San Francisco Command Center personnel received notification that three individuals went into the water just off Lawson's Landing when their raft


XL Group Underwriters at IUMI Conference in Hong Kong

XL Group informs that its leading marine underwriters will join the annual International Union of Marine Insurance (IUMI) conference, the first time to be held in Hong Kong in the organisation’s 140-year history. IUMI is being held in HK from 21-24 September 2014 with the theme 'Building


Fire at Los Angeles Port Stops Container Traffic

Thick smoke from a smoldering fire started by a welder's torch at the Port of Los Angeles was preventing the movement of containers at the facility on Tuesday, because air conditions were too harmful for dock workers, officials said. The fire broke out on Monday evening and burned about 150


Wilmington Wharf Fire: Port of LA Update

Fire fighting: File photo

With the wharf fire in Wilmington now more than 90 percent contained, terminals at the Port of Los Angeles plan to resume full operations Tuesday evening at 6 p.m. informs the Port. Only the Pasha terminal at Berth 177, the location of the fire, will remain closed


UAE to Launch Concentrated Inspection Campaign

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  The 6 Maritime Authorities of the Riyadh Memorandum of Understanding (RMoU) on Port State Control will launch a Concentrated Inspection Campaign (CIC) with the purpose of ensuring compliance with SOLAS Chapter II-2 and the International Code for Fire Safety Systems on board ships.


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


Coast Guard Investigating Fatal Boating Collision

The U.S. Coast Guard is investigating a fatal collision between a towboat and a pleasure craft near Cincinnati, Thursday evening. Watchstanders at Coast Guard Sector Ohio River Valley received notification of the incident from the Bellvue-Dayton Fire Department


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






 
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