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National Insurance

U.S. Marine Insurers To Review State Of Market

Trends and developments affecting the U.S. ocean marine insurance market will be discussed at the annual meeting of the American Institute of Marine Underwriters (AIMU) on Friday, Nov. 19 in New York City. The meeting will be held in the Ricker Auditorium, 180 Maiden Lane, beginning at 9:30 a.m. Ed Badolato, chairman of the National Cargo Security Council (NCSC), will be the featured speaker. The NCSC is a broad-based organization of government agencies and private industry working together to fight cargo theft. AIMU chairman James A. Zrebiec, chairman of International Marine Underwriters, a member of the CGU Insurance Group, will report on issues in the global marine insurance marketplace. Walter Kramer, AIMU president, will discuss AIMU program initiatives.


IUMI Conference Set for September

The 2007 conference of the International Union of Marine Insurance in Copenhagen is set for next month. As finishing touches are being put to the four-day program of committee meetings, keynote speeches, presentations, panel discussions and workshops, covering all branches of marine insurance, IUMI has announced record attendance figures. With over two weeks still to go to the start on September 9, the organizing committee from the Danish Insurance Association reports that more than 750


Mitsui Marine, Sumitomo To Merge By April 2002

Sumitomo Marine & Fire Insurance and Mitsui Marine & Fire Insurance agreed to merge by April 1, 2002, in a move that would create Japan's largest non-life insurer. With combined assets of $51.7 billion, the merged company will outstrip current industry leader Tokio Marine & Fire Insurance, whose assets stand at $48.5 billion. Analysts say the merger will accelerate consolidation in the sector, where competition is intensifying, due mainly to the deregulation of insurance premiums in July 1998


Study: Title Issues Abound in Maritime Deals

A recent study conducted by First American Transportation Title Insurance Company, a subsidiary of First American Title Insurance Company, finds that more than 35 percent of recorded maritime vessel ownership records contain potential title issues. The October study evaluated more than 100 randomly selected commercial and recreational vessels listed on the U.S. Coast Guard’s National Vessel Documentation Center (NVDC) registry.


PVA Advises On Terrorism Insurance

The Passenger Vessel Association (PVA) recently distributed the following to advise its members regarding terrorism insurance. The shocking events that occurred on September 11 took all of us by surprise. Since then, we've all started to ask ourselves some basic questions that will help us to protect our companies, property, and employees from further harmful situations, if they should occur. One of these important protective elements is insurance.


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


MARAD To Sponsor Seminar

The U.S. Maritime Administration (MARAD) is sponsoring a seminar in New York on May 31, 2002 entitled Issues regarding Terrorism Insurance in the Maritime Industry. The keynote address will be given by MARAD Administrator William Schubert. Items on the agenda include Terrorist Insurance Legislation Proposals and Status and Insurance and Beyond.


Michael Else & Company Launch New Insurance Cover

Michael Else & Company, manager of the Charterers P&I Club and Transmarine, has launched a new product to provide innovative insurance solutions worldwide for small and medium-sized multimodal transport operators and shipping intermediaries such as freight forwarders, NVOCCs and ship agents.     The new product, Portside Insurance Management Services operates as a brand within Michael Else & Company’s existing structure and the security is provided 100 per cent


Moore Stephens Strengthens Regulatory Advisory Team

Moore Stephens has further strengthened its regulatory advisory capability with the appointment of John Westlake as compliance manager. John Westlake has a broad perspective of the insurance industry acquired through a variety of roles, which has enabled him to support insurers and brokers in establishing effective compliance solutions. He has a strong commercial background, having acted as operations director with a personal lines insurer


WQIS Strengthens Underwriting Department

John Moy has joined the team at Water Quality Insurance Syndicate as Vice President of Underwriting. John will lead the WQIS underwriting department. John came to WQIS from Crum & Forster where he served as the Vice President of United States Fire Insurance Company for the past five years. Previous to his tenure there, he was the Regional Underwriting Manager at XL America, working in marine and offshore energy insurance


Iran Oil Tanker Firm Still Faces Sanctions

Iran's main oil tanker firm NITC will struggle for some time to call at European ports, get foreign insurance and overcome obstacles under western sanctions, even after a top court has annulled its blacklisted status in the European Union.


16 U.S. States at High Risk of Damaging Earthquakes -USGS

States affected by seismic activity

  Sixteen states are at high risk of damaging earthquakes over the next 50 years and certain areas of the United States face a higher threat of temblors than previously thought, a federal geological survey agency said. The findings come from updated earthquake hazard maps that were released


The Cause behind the Clause Piers & Docks Insurance

As a maritime business owner, your day-to-day focus is on managing and growing your business. Understandably, thinking about and understanding the nuances of your insurance coverage is not likely to be among your top priorities. However, what if the unthinkable happens and your docks and piers are


American P&I Club Rings in Posidonia

Stuart Todd

While Posidonia is well regarded for its exhibition, it is famous for its parties. The American Club held its traditional party on the evening of Thursday, May 29, to mark the start of Posidonia week, with more than 600 guests from the club’s expanding Greek membership


TT Club Calls for Increased Port Safety

Photo courtesy of TT Club

In a speech given to the Trans Middle East Conference in Qatar in May, Andrew Kemp, Regional Director EMEA of the freight transport insurance specialist TT Club, called for operators to do more to minimize the causes of incidents resulting in bodily injury, cargo and property damage.


Coalition Asks Senate for Vessel Discharge Legislation

Tom Allegretti, AWO’s President & CEO

On June 20, a diverse coalition of 58 national and regional organizations representing a wide array of leading business, maritime and labor organizations signed on to a letter to Senate Commerce, Science and Transportation Committee Chairman John Rockefeller (D-W.Va


Grants Offered for Maritime History Projects

The National Park Service, in partnership with the Maritime Administration, today announced the availability of approximately $1.7 million in grant funding through its Maritime Heritage Program for projects that teach about and/or preserve sites and objects related to our nation’s maritime


Peak Re Appoints Credit & Surety Underwriter

Kathleen Ko, Sr Vice President of Peak Re

Peak Reinsurance Company Limited (“Peak Re”), the fast growing Hong Kong based reinsurer announced the appointment of Kathleen Koh as Senior Vice President to underwrite credit and surety business.   Ms. Koh will be responsible for developing and growing Peak Re’s credit


Scrapped Ships Fund $1.7-Million US Maritime Heritage Program

Paul N. Jaenichen: Photo MARAD

The National Park Service, in partnership with the Maritime Administration, informs of the availability of approximately $1.7 million in grant funding through its Maritime Heritage Program for projects that teach about and/or preserve sites and objects related to the nation’s maritime history


Marine Salavage: Responder Immunity Benefits a Responsible Party

The Author, Jon Waldron

Putting to rest the fears and misconceptions about what responder immunity means and what it will eventually do. It’s all good. As many in the response industry, and in many cases the marine industry in general appreciate, there has been an extended effort to enact an enhanced responder


Ingalls Gets Coast Guard NSC Advance Procurement Contract

NSC Stratton: Photo HII

Ingalls Shipbuilding division says it has received an $76.5 million fixed-price contract from the U.S. Coast Guard to purchase long-lead materials for the eighth National Security Cutter, Midgett (WMSL 757). Construction and delivery of Midgett would take place at the company's Pascagoula facility


XL Group Grows in Asia

XL Group strengthened its Insurance Marine team with the appointment of Mike Davies as Chief Underwriting Officer, Marine, Asia Pacific and Ian Picton as Senior Upstream Underwriter.   Understanding the local industry and what is impacting it, is a key recruitment driver for XL Group


Board Game Seeks to Transform Supply Chain Learning

Pat Smedley & Andy Page

Three years after its inception, today sees the official launch of an innovative new board game designed to teach young people of all ages about the importance of today’s supply chain in global commerce. The game - Business on the Move - aims to inspire


UK Offers Substantial R&D Tax Breaks: Consultants

Technology abstract: File image

Accounting and consulting network Moore Stephens inform that as part of the UK government’s continuing aim to attract new companies to the UK to create growth and jobs, significant changes have been made to the tax rules over the last few years to encourage research and development


Maritime Legal Firms Announce Merger

Houston- and New Orleans-based law firm Bland & Partners P.L.L.C. announced that Crain Wilson, P.L.L.C.’s Houston office merged with its firm as of July 1, 2014. The merger results in growth for the firm, including the addition of six attorneys and four legal support staff






 
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