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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.   Companies struggling to protect their assets and brands from the growing scourge of cyber attacks can now access a new product designed specifically for their needs, created by a trusted former national security leader and the world’s premier insurance brand. The Honorable Tom Ridge, in London today meeting with leading cyber Lloyd’s Syndicates, today announced the launch of Ridge Insurance Solutions Company, offering best-in-class informed assessment and cyber insurance. The packaged, customized assessment capabilities and insurance enable C-suite executives to mitigate cyber risk, thereby closing a dangerous cyber insurance gap that often leaves companies – particularly small- and mid-cap firms – vulnerable to the consequences of proliferating attacks. Boards of directors for financial services, retail, healthcare and energy companies, among others, now will have access to unique cyber insurance that leverages real intelligence that is sector and company specific, rejecting the ‘cookie-cutter,’ process-oriented approach inherent in most cyber insurance offerings today. Policies of up to $50 million (USD) each are available beginning immediately.


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


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


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.


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


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


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.


US Obamacare Impacts the Global Marine Industry

The Affordable Care Act (ACA), otherwise known as Obamacare, the recent healthcare plan in the United States, is affecting the international superyacht industry, according to yacht insurance expert Eva Maria Karlsson of Superyacht Insurance Group (SYIG). Maria, who is president/broker at SYIG, said, “The biggest challenge presently is Obamacare. Interestingly enough, it’s actually affecting the international marine industry


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


DSG Marine Asks Shipowners to Consider Fixed Premium P&I Cover

Photo courtesy of DSG Marine

P&I Insurance Seminar for Owners and Charterers held in Mumbai DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I Facility, has advised Indian shipowners to consider the benefits of fixed premium P&I cover.


Strike to Paralyze Belgium

Image

  Inchcape Shipping Services (ISS), the world's leading maritime services provider, is advising that Belgian trade unions have called a national strike for Monday. The strike, which will commence at midnight on 14 December and will continue through to midnight on 15 December


Jones Act Gets Staunch Support

  The United States Congress this week enacted the strongest statement of support for the Jones Act and the American domestic maritime industry since the Merchant Marine Act of 1936. The measure was included as part of the National Defense Authorization Act (H.R


Tse Heads Risk Management, BMT Asia Pacific

Joanne Tse

  BMT Asia Pacific, a subsidiary of BMT Group has appointed Joanne Tse as Head of Risk Management based in Hong Kong. The new appointment will help support the regional growth of risk consultancy services - principally in the transportation and construction sectors.


First Images of Historic San Francisco Shipwreck

SS City of Rio de Janeiro built by John Roach & Son in 1878 at Chester, Pennsylvania, regularly transported passengers and cargo between Asia and San Francisco. Photo taken at Nagasaki, Japan, 1894. (Credit: San Francisco Maritime National Historical Park_ safr_21374_h06-04135_n)

NOAA and its partners released 3D sonar maps and images of an immigrant steamship lost more than 100 years ago in what many consider the worst maritime disaster in San Francisco history. On Feb. 22, 1901, in a dense morning fog, the SS City of Rio de Janeiro struck jagged rocks near the present


INMARCO INAvation 2014 Opens on 11th December

Nitin Gadkari Minister of Road Transport and Highways will be the chief guest

  INMARCO INAvation 2014, the International Maritime Technology Conference & Exhibition on “Innovations for Maritime Sustainability” is being held at the “National Centre for the Performing Arts” (NCPA) in South Mumbai from 11th to 13th December 2014


Stena Donates Tanker Model to Paris Museum

From left: Luc Gillet, vice President, Total Shipping Division, Dan Sten Olsson, CEO Stena AB,  Counter Admiral Loïc Finaz, Musée National de la Marine and  Veronika Wand-Danielsson, Swedish Ambassador in France

Stena donates tanker model to the Musée National de la Marine in Paris, highlighting safe maritime practices and clean oceans. A ceremony was held Friday evening at the prestigious national maritime museum, Musée National de la Marine in Paris


Marine Insurance & the “Human Factor”

Insurance underwriters of diversified maritime exposures see a wide variety of approaches taken by vessel operators to manage human error to control risk. They have found through experience that the majority of hull and liability claims can be traced to a breakdown in preparedness and


DGS Marine Advises Fixed Premium P&I Cover

DGS Marine highlights benefits of fixed premium P&I cover for Middle East ship owners

  DGS Marine, a leading global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, has highlighted the benefits of fixed premium P&I cover for ship owners and operators in the Middle East.


Russian Firms Face Huge Insurance Costs as Foreign Providers Flee

Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an increasingly sick economy.


Faststream Adds Eight Recruiting Staff

From left: Rafael Ramirec, Gregory Smith and Brendan Anzelone

Recruiting hires reflect demand for talent in the oil and gas and maritime sectors, across the U.S. and globe Faststream, an oil and gas and maritime recruiting and staffing services company, hired eight recruiters in its Houston and Fort Lauderdale offices to focus solely on placing talent


Scorpio Bulkers Announces $39.6m Loan Facility

Scorpio Bulkers, Inc. received a commitment from ABN AMRO Bank N.V. for a loan facility of up to $39.6 million to finance up to 60% of the market value upon delivery of two Kamsarmax vessels currently under construction at Tsuneishi Zhoushan Shipyard, China for delivery in Q3 2015 and Q1 2016.


Fire-stricken Shipbuilder Enters Voluntary Administration

The Royal Australian Navy patrol boat HMAS Bundaberg caught fire while undergoing maintenance in August (Photo courtesy of the Royal Australian Navy)

Brisbane-based shipbuilders Aluminium Boats Australia Pty Ltd has been placed into voluntary administration after a shipyard fire in August has set the company toward financial instability. The fire, which occurred at the company’s Hemmant dockyard 11 weeks ago


DGS Marine Orgainses 1st BE&O P&I Seminar

DGS MARINE DELIVERS P&I INSIGHTS FOR CYPRUS SHIPPING COMMUNITY

  DGS Marine, a leading global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, has held the first BE&O P&I Seminar in Limassol, Cyprus. Hosted by Captain Andreas Efthimiades


World Maritime University Graduates Largest Class

Photo: WMU

On Sunday, November 2, the Chancellor of the World Maritime University (WMU) and IMO Secretary-General Sekimizu conferred postgraduate degrees on the WMU's Class of 2014. Compiling the largest class in the 31-year history of WMU, 124 students graduated from the Malmö-based M.Sc






 
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