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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


Access to Santos Port Back to Normal After Fire

(Photo: Santos Brasil)

Access to Brazil's largest port, Santos, was fully restored for cargo and passenger vehicles on Monday after one entrance had been partially blocked for a week due to a fire at a nearby fuel-tank facility, highway operator Ecovias said.  


Nairobi Wreck Removal Convention Enters into Force

The Nairobi International Convention on the Removal of Wrecks provides a set of uniform international rules for the prompt and effective removal of wrecks located in a country’s exclusive economic zone or equivalent 200 nautical miles zone. (Photo: IMO)

The Nairobi International Convention on the Removal of Wrecks enters into force on Tuesday, April 14, 2015. The Convention places strict liability on owners for locating, marking and removing wrecks deemed to be a hazard and makes State certification of insurance


LNG Emergency, Incident Response Study

  Safety around Liquefied Natural Gas (LNG) is a hot topic, now that LNG is more and more becoming the fuel of the future. The results of a recent LNG emergency and incident response study are a big step forward in LNG safety in Europe


Logistics and Warehouse Insurance: Understanding its Complexity

Virginia Cameron

In October 2013, a fire blazed through Brazil’s Santos port, destroying six warehouses and the 180,000 tons of raw sugar inside Sugar Company Copersucar’s terminal. The fire hit all of the sugar giant’s warehouses at the port and left many exporters holding contracts for sugar


North Korea Declares No-Sail Zone

North Korea has declared a no-sail zone for its ships off its east coast, South Korean media reported on Monday, suggesting more missile launches are possible before the U.S. defence chief visits Seoul this week. Pyongyang fired four short-range missiles off its west coast on Friday in what


Fuel Storage Tank Fire at Santos Port Continues

A fire at a fuel storage facility near Brazil's largest port Santos entered its fourth day on Sunday as 110 firefighters worked to stop the flames from spreading further, the local fire department said. Six fuel tanks run by Ultracargo, owned by Brazil's Grupo Ultra


Pemex: 2015 Output Unaffected by Platform Blaze

Mexican state oil giant Pemex expects to meet its 2015 output target of 646,000 barrels per day (bpd) for the oil-producing region where a platform exploded last week, killing four people and leaving three more missing, a top executive said on Sunday.


Russian Atomic Submarine Catches Fire in Shipyard

A nuclear submarine caught fire in a shipyard in Russia's northern province of Arkhangelsk on Tuesday but there were no weapons on board, Russian news agencies reported. The Emergencies Ministry declined comment on the reports of the fire at the Zvyozdochka shipyard


Fire Still Restricts Trucks from Largest Brazilian Port

A fire at a fuel-storage facility at the Port of Santos, the largest port in Brazil, burned for a sixth day on Tuesday, restricting access to trucks delivering grains and other goods. Firefighters on Monday managed to extinguish the flames at a facility run by Ultracargo


Russian Submarine Fire 'Put Out' in Dock

Source: Kuleshov Oleg

 Firefighters at Zvyozdochka shipyard in Russia's northern province of Arkhangelsk partially flooded a nuclear-powered submarine to extinguish a blaze that started aboard the vessel.   The vessel - classified as Oscar-II by NATO - is a cruise missile type sub which carries nuclear


Blocked Entrance to Santos Port to Open Overnight

Trucks will be able to access a blocked entrance at Santos, Brazil's largest port, at night while firefighters finish extinguishing a blaze at a nearby fuel-storage facility, city and port authorities said.   The more flexible rules will provide some relief for grain exports that have


Rolls-Royce Delivers Far Sleipner

Rolls-Royce Congratulates Farstad Shipping With The Delivery Of Far Sleipner

  Rolls-Royce would like to congratulate Farstad Shipping ASA for their recently named highly advanced subsea and construction vessel Far Sleipner. The event also marks the first delivery of a vessel equipped with the latest generation dynamic positioning system DP3 from Rolls-Royce


How to Approach Maritime Cyber Security

Luke Ritter

Be the Hammer, not the Nail when it comes to  Maritime Cyber Security Maritime security professionals understand the value of a layered approach to risk management. Cyber security posture continues to develop as a critical component of a maritime security strategy


Brazil Port City Suspends Ultracargo Fuel Operations After Fire

The mayor of Santos suspended on Friday operations at a fuel storage warehouse in Brazil after a week-long fire at the facility operated by Ultracargo slowed exports from the country's largest port. "With this measure, all the company's activities in the city are suspended until all legal


Truck Access to Santos Port to Increase

Tecon Santos, of Santos Brasil- the largest container terminal in South America. Courtesy  Wikipedia

  Truck access to Brazil's main port of Santos will increase over the weekend as work to control a week-old fire at a neighboring fuel tank facility winds down, the local mayor's office said. The fire was mostly extinguished by Friday morning






 
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