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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


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.


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)


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


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


Marine Claims Insurance Reminder by Danish Authority

Need to take insurance to cover maritime claims

  If you own a ship with a gross tonnage (GT) of or above 300, you must inform the Danish Maritime Authority about your insurance for maritime claims by 31 March 2015. The requirement does not apply to foreign ships. It is about time to check your insurance for maritime claims.


Fire Aboard Teekay-owned FPSO Petrojarl Knarr

The FPSO Petrojarl Knarr being towed by Fairmount Marine tugs from South Korea to Norway (file photo)

  A fire started aboard the Teekay-owned FPSO Petrojarl Knarr this morning. The fire was the second aboard the FPSO unit, which was built in 2014, during its young life at sea.   The blaze occurred just a week after the Petrojarl Knarr produced its first oil from the Knarr field in


Shipping Losses Lowest in 10 Years

Graph: Allianz Global Corporate & Specialty

 2014 was the safest for world shipping in a decade according to the Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015. Global shipping losses continued their downward trend with 75 reported in last year.  


New Workwear Lifejacket Introduced

Photo courtesy of Ocean Safety

Ocean Safety has introduced a new range of workwear lifejackets.   The new Kru Workwear range completes Ocean Safety’s lifejacket offering, providing a wide choice for personnel working in both the commercial and leisure industry.


Vancouver Port Operations Resume Atfer Container Fire

Port Metro Vancouver said on Thursday that operations had resumed at most port facilities shut down by a shipping container fire the day before, but that its Centerm container terminal was still closed. The chemical fire, which prompted a massive emergency response late on Wednesday and shut


Cook Islands to Issue Wreck Removal Certificates

Glenn Armstrong, Managing Director of Maritime Cook Islands, the Cook Islands registry administrator. Courtesy MCI

  The Cook Islands has acceded to the Nairobi International Convention on the Removal of Wrecks, 2007 (“The Nairobi Convention”). As a State Party, Cook Islands will issue Wreck Removal Certificates to its own ships and also to ships flying the flags of states that have not yet


USCG Marine Safety Alert

The U.S. Coast Guard issued a marine safety alert while it conducts an ongoing investigation into a engine room fire that killed three aboard the Insignia cruise ship in St. Lucia in December.   The USCG reminded shipowners to maintain machinery, establish escape routes


Turkey's Coastguard Chases 'Migrant' Cargo Ship

Image courtesy:  Turkish Coast Guard

 Turkish coast guard teams fired on a cargo ship passing through the Çanakkale Strait on Thursday evening after the vessel failed to comply with a warning to stop and captured some 500 illegal migrants.   The 59 meters long cargo ship, named "Doğan Kartal


Turkey Seizes Syrian Refugee Ship

Turkish coastguards found more than 300 refugees, mostly Syrians, when they seized a cargo ship they had opened fired on for failing obey an order to stop off Turkey's western coast, the regional governor said on Friday.   Refugee trafficking in the seas around Turkey is a major problem


Thousands Evacuate after Deadly Blaze in Chile Port City

Seaport City of Valparaíso (Photo by UNESCO)

 Chile declared a state of emergency and precautionary evacuation of up to 16,000 people as a raging forest fire threatened the historic port city of Valparaiso.   The inferno began on Friday, 13 March afternoon in an area where illegal garbage was being dumped but spiraled out of


Rescue Sheet for Liebherr Mobile Cranes

The Liebherr rescue sheet is located behind the drivers seat.

  * Rescue sheet provides information about the structure of the crane and hazardous substances  * The aim is to enable the fast rescue of passengers and the recovery of the crane after accidents  * Liebherr mobiles cranes which comply with stage 3b or over feature a rescue


Tug Sinks off Long Island; One Dead, Three Rescued

A tugboat sank off New York's Fire Island on Saturday, and one crew member died and three were pulled from the icy water by the U.S. Coast Guard.   The vessel, the Sea Bear, went down off Fire Island as it was returning to New York from the area's Shinnecock Inlet


Fire Aboard RoRo Vessel Inbound to New York

A fire has broken out aboard the motor vessel Grey Shark at Homeport Pier in Staten Island, New York, Wednesday, The U.S. Coast Guard (USCG) reported.   The USCG, FDNY, NYPD and the ship’s owners are working together to extinguish the blaze that ignited Sunday aboard the 360-foot


USCG, Agencies Respond to vessel taking on Water

Courtesy USCG

  Coast Guard members and local agencies responded to a fishing vessel taking on water with two people aboard west of Alcatraz Island in San Francisco Bay Wednesday afternoon. At 1:28 p.m., Coast Guard Station Golden Gate watchstanders received a VHF-FM radio transmission on channel 16


TT Club Warns Baltic Ports to Protect Against Reputational Damage

Andrew Huxley (Photo courtesy of TT Club)

Speaking during Baltic Transport Week in Gdansk this week Andrew Huxley, Development Director at freight transport insurance specialist TT Club, warned port and terminal operators to be aware of the reputational damage that can be a serious consequence of uninsured incidents resulting from






 
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