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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


MOL Drill Prepares for Offshore Incident

Under cooperation with Japan's Coast Guard, Mitsui O.S.K. Lines, Ltd. (MOL) has conducted a tabletop drill based on a scenario in which fire occurred in the engine room on a bulk carrier while under way at Kudako channel in Inland Sea, resulting in the vessel going aground


WESMAR Delivers Thruster to another Fireboat

The super pumper fireboat is to enhance San Francisco’s marine fire fighting and response capabilities on water including high-volume water pumping, firefighting, rescue, emergency medical service and patrol in the waters of San Francisco and San Pablo Bays and the Pacific Ocean within five miles of shore and the adjoining inland waterways.

WESMAR (Western Marine Electronics) delivered one of its bow thruster systems to another fireboat this month. This systems will be installed on a ‘super pumper’ for the city of San Francisco. The new fireboat is being built by Vigor Fab, Seattle, a subsidiary of Vigor Industrial


Sea-Fire Systems Aboard Niagara Falls Tour Boats

Photo: Sea-Fire Marine

When it came time to retire the iconic Maid of the Mist Niagara Falls tour boats, Hornblower Niagara Cruises sought replacements that would raise the standard of forward-thinking performance, without sacrificing safety. The two new 86' x 36' catamarans built by Hike Metal


Braemar Hosts Insurance Experts

Falmouth

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization course in Falmouth designed to introduce participants to the technical aspects of marine surveying, investigating


Former DHS Chief Ridge Introduces Cyber Solutions

Former U.S. Homeland Security Secretary Tom Ridge

First U.S. Homeland Security Secretary Tom Ridge Partners with Five Lloyd’s Syndicates to Offer ‘Intelligent’ Cyber Insurance. Ridge Insurance Solutions Company to close dangerous cyber insurance gap by providing informed-assessment capabilities and insurance.  


XL Offers KRE Cover to Yacht Owners

Denise Balan

  To help yacht owners navigate increasingly risky waters, XL Group is adding a Kidnap, Ransom & Extortion (KRE) Crisis endorsement to ShipShape, and ShipShape Plus, its recreational marine insurance coverages. "Crisis events like kidnapping


South, North Korea Exchange Naval Fire

A South Korean naval ship fired warning shots on Tuesday after a North Korean patrol boat crossed a disputed sea border off the peninsula's west coast and fired shots back before retreating, a South Korean defence official said. There were no casualties on the South Korean side, he told Reuters


NITC: Says EU Sanctions Lifted

Dubai 11 NITC3.JPG

European Union sanctions on Iran's main oil tanker firm NITC have been annulled after the EU failed to appeal against a court ruling that ordered the measures to be lifted, the shipping company said on Tuesday. An EU official told Reuters the European Union was working to resolve the issue


TR Completes Successful TSTA and FEP

Sailors man hoses during a fire and mass casualty drill on the flight deck of the aircraft carrier USS Theodore Roosevelt (CVN 71). Theodore Roosevelt is underway conducting training in preparation for future deployments.

  The aircraft carrier USS Theodore Roosevelt (TR) (CVN 71) successfully completed Tailored Ship's Training Availability (TSTA) and the Final Evaluation Problem (FEP) Oct. 8. TSTA/FEP is a three-week training and evaluation period that prepares the ship and crew for integrated training


TT Club Shows Strong YTD Performance

The TT Club, an international transport and logistics insurance provider,  released a trading update for the period 1 January - 31 August 2014. Charles Fenton, Chief Executive of the TT Club, said: “Low claim levels have continued through from 2013 which have contributed to TT


Taking Cyber Risks Seriously

Once, the stars were all that mariners needed to navigate the seas. Today, maritime companies rely on hi-tech systems to operate and navigate equally hi-tech vessels. All of that comes with new and significant risks. On one side, automation has its benefits


Effective Communication on the Water

Marco 38.jpg

Because communication on the water is serious business, David Clark Marine offers a number of system solutions tailored to meet specific needs. On board the City of Marco Island’s Firestorm 32 High Speed Aluminum Fireboat, made by MetalCraft Marine


Saudi Oil Pipeline Set Alight

  A "limited fire" broke out on a subsidiary oil pipeline in eastern Saudi Arabia on Saturday after assailants fired shots at a security patrol, the state news agency SPA said. An industry source told Reuters there was no impact on oil operations in the world's top crude


Cargill: 50,000T of Sugar Affected by Brazil Fire

Approximately 50,000 tonnes of sugar were stored in a warehouse affected by fire in the Teag terminal in Brazil on Monday, Cargill Inc said in a statement. The terminal, a joint venture between Cargill and Biosev , the sugar unit of Louis Dreyfus Commodities , has storage capacity of 110


Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday. SOCAR said that one of the platforms collapsed during repair works and a small wagon-house fell






 
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