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Insights: H. Elder Brown, Jr.

Elder Brown web.jpg

Chairman of the Board of Directors, Fidelis Group Holdings LLC and Continental Underwriters, Ltd.   For those in the marine insurance and underwriting communities, H. Elder Brown, Jr. needs no introduction. That’s because over the course of the past 27 years, Brown has taken Continental Underwriters Ltd. (CUL) from a small family business to one of the largest brown water marine underwriters in the United States. More recently, Brown returned CUL to private ownership by purchasing CUL back from Houston Casualty Company in 2009.  Today, CUL is an industry leader in part due to the company’s excellent underwriting and claims handling. A 1974 graduate of Loyola University, Brown has steadily risen through the ranks of marine insurance, serving along the way in the Claims Department, as Assistant Underwriter, Senior Underwriter and eventually earning his current position as Chairman of the board of directors. Starting out as an Offshore Crew boat captain, Brown at one time operated and managed oilfield crew boats. As such, his knowledge of this unique market niche extends far beyond simple dollars and cents. This month, he weighs in for MarineNews readers on a host issues affecting marine insurance and those who depend on those services. How do you view the marine insurance marketplace at the current time? How about in one year? Five?

U.S. Extends Marine War Risk Insurance

Secretary of Transportation Norman Y. Mineta has approved an extension of the authority to provide war risk insurance under Section 1202 of the 1936 Merchant Marine Act (Act). Unlike Section 1205 insurance, which is provided to the Department of Defense (DOD) on vessels chartered to them at no premium and with a full DOD indemnity, Section 1202 insurance is underwritten by DOT in return for a premium from shipowners. This insurance or reinsurance of vessels is available for vessels (including

Logistics Insurance Provider Opens New Corporate HQ

Tactical Insurance Group has opened a new corporate office to facilitate the expansion of the company into its targeted industry sector –  Logistics Insurance. One of the South Central region's leading insurance brokers, Tactical Insurance Group, has moved into a newly expanded corporate office facility in Dallas as part of its strategy to grow its Logistics Insurance practice throughout Texas and surrounding states.

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, disappearance and hijack are increasingly real threats, especially on open seas," explained Denise Balan, Country Manager of XL's US Crisis Management business which developed the KRE endorsement

Norwegian Courts Reject Insurance Forum

Wikborg Rein, a Norwegian law firm, said Norway's Supreme Court has closed a door to claimants attempting to act against foreign shipowners insuring themselves in Norway. Anders Faerden, a partner in Wikborg Rein's Oslo office, said, "A Mexican insurance company has unsuccessfully brought a claim in Norway against a major Russian shipowner. The claimant tried to sue the Russian company in Norway because it had its P&I cover with Oslo-based Skuld.

Walker Joins Moore Stephens

Moore Stephens has appointed Lloyd's insurance market expert Tim Walker a consultant to its insurance and business intelligence team. Walker has extensive experience of international - and particularly Lloyd's - underwriting markets. He was a director of Miller Underwriting Agencies for ten years until starting his own full-time Lloyd's consultancy in 1993, in which capacity he acts as manager to Charles Taylor & Co, managers of The Stop Loss Mutual Insurance Association Ltd.

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

CMA CGM: Book your Cargo Insurance online

Image: CMA CGM

 With a one stop shop offer to facilitate your shipping experience, CMA CGM, in partnership with one of the largest marine insurance companies in the world, has developed a Unique Cargo Insurance Program to cover the unexpected and unforeseeable events that may lead to loss or damage of your cargo. CMA CGM press release says that, since June, 20th 2016, this offer is also available in the CMA CGM eBusiness Platform

Barbican Acquires Marine Insurance Broker

Barbican Group Holdings Limited (Barbican) announced that it has acquired Seacurus Ltd (Seacurus), a U.K.-based specialist marine insurance broker. Established in 2004, Seacurus focuses specifically on revenue protection in the marine insurance market. A provider of marine kidnap and ransom insurance, the company offers a range of products designed to help companies in the shipping industry manage a wide variety of operating and financial risks.

IMG Enhance Marine Group Medical Insurance Program

International Medical Group® (IMG) a leader in designing, distributing and administering global medical insurance benefits, has announced its enhanced flagship marine group medical insurance program. According to IMG, the enhancements enable ship owners to provide their crew comprehensive coverage for eligible medical expenses, which is increasingly important with the enactment of the Maritime Labour Convention (MLC, 2006).

Moore Stephens: 4th Straight Year of Operating Costs Decline

Richard Greiner (Photo: Moore Stephens)

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015.   This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction

Merchant Ships off Yemen Bracing for More Danger

USS Mason (File photo: U.S. Navy / Rob Aylward)

Missile attacks from Yemen on Western military craft risk spilling over into nearby busy sea lanes which could disrupt oil supplies and also other vital goods passing through the tense area, shipping and insurance sources say.   While shipping companies have yet to divert ships

Korean Register CEO Park Passed Away

Dr. B. S. Park ( Photo: Korean Register)

Dr. B. S. Park, Korean Register Chairman and CEO, has passed away after a short illness.   Dr. Park graduated from Korea Maritime and Ocean University in 1976 and joined Pan Ocean Shipping where he worked in a number of capacities until 2001

Marine Premiums Drop 10%, Could get Worse

Patrizia Kern (Chairman)

The International Union of Marine Insurance – unveiling its annual statistical report on the marine insurance market at today’s conference in Genova, announced global underwriting premiums for 2015 of USD 29.9bn. This is a 10.5% reduction on the 2014 figure.

MN100: XL Catlin

(Photo: XL Catlin)

The Company: XL Group plc through its subsidiaries and under the XL Catlin brand, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world

What to Expect From Hanjin Fallout?

Photo: Hanjin Shipping Co Ltd

 South Korea’s biggest shipping company, Hanjin Shipping Co Ltd filed for court receivership in South Korea on Wednesday 31 August 2016 after losing the support of its banks, setting the stage for what has now become a motley situation.  Ince & Co's Knowledge Bank takes a look

Nairobi Wreck Removal Convention Explained

Photo: International Maritime Organization

 The International Maritime Organization (IMO)  treaty covering wreck removal is on the agenda at the 7th Maritime Salvage and Casualty Response Conference in London (7-8 September).    IMO’s Jan de Boer gave an insight into the Organization’s Nairobi Wreck

MN100: MOPS Marine License Insurance

MOPS manager Randy ONeill (Photo: MOPS Marine License Insurance)

The Company: Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms, representing almost 200 experienced maritime attorneys

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies have worked together in ship insurance and ship brokerage. These partnerships are to be intensified and extended to other ship

Braemar Adjusting agrees Strategic Partnership in S. America


Braemar Adjusting has agreed a strategic partnership with Beckett Liquidadores de Seguros S.A of Chile, to act as its local resource partner in a number of countries in South America. Braemar Adjusting provides Loss Adjusting, Risk Assessment

Med-Black Sea Oil Tanker Rates Weaken After Failed Coup in Turkey

The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were no disruptions through Istanbul's vital Bosphorus Strait.   More than 290 people were killed and around 1

MTA Grows Portfolio with Magnificent Seven

Maritime Training Academy are adding to its portfolio of training courses with the addition of seven new Diplomas, confirming its position as a world leader in the provision of distance learning training within the maritime industry. The seven new training courses cover Maritime Firefighting

EU Ship Recycling on the Radar

(Source: IGP&I) Image: Gard

 The European Union Ship Recycling Regulation has been effective since 2013 and applies to all ships entering ports and terminals of EU Member States.    While it is consistent with the broad objectives established in the International Maritime Organisation’s Hong Kong

Global Tonnage Continues to Grow

Image: Gard

 2015 saw further growth in total Group entered tonnage, which increased from 1,047 billion GT as at August 2014 to 1,088 billion GT as at August 2015, says annual review of International Group P&I Clubs (IGP&I) published by Gard on July 14, 2016.  

Harry Diamond Celebrates 21 Yrs at WQIS

Harry Diamond, Vice President and Chief Claims Officer Photo WQIS

Harry Diamond, Vice President and Chief Claims Officer at WQIS, is celebrating 21 years with the company this year. Diamond is a graduate of LaSalle University with Bachelor of Arts degrees in social studies education and history; he also holds an Associate degree in Risk Management

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