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.
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
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
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.
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.
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
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, 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 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
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
InterManager, the international trade association for the ship management industry, says it has welcomed the adoption of new measures to protect seafarers against abandonment. Amendments to the Maritime Labour Convention 2006, agreed at a meeting of the International Labour Organisation in Geneva
Marine insurance – just like health, automobile and homeowner’s insurance – can be a valuable safeguard in case something unexpected happens. And when something bad happens, it provides reassurance that you have assistance in place to help get back to business quickly.
Armed pirates raided an oil tanker off the coast of Malaysia and took three crew members with them, Malaysian maritime officials said on Wednesday, underscoring increasing threats to shipping in one of the world's busiest waterways. The incident in the Malacca Strait
University of Southern Mississippi Site for Fourth National SeaPerch Challenge – Underwater Robotic Championships Excitement continues to build for the Fourth Annual National SeaPerch Challenge, as 2014 will see the largest group of SeaPerch competitors ever to assemble and compete for the
On March 13, a diverse coalition of 59 national and regional organizations representing a wide array of business, maritime and labor interests signed on to a letter to Senate Commerce, Science and Transportation Committee leadership, Chairman John Rockefeller (D-WV) and Ranking Member John Thune
NMMA in conjunction with Lauderdale Marine Center (LMC) and the National Fire Protection Committee on Spray Finishing, recently drafted and approved a new standard which reduces the fire risks of spray painting large objects, including yachts in temporary membrane enclosures
Specialist freight transport insurance provider TT Club said it is reinforcing its presence in Dubai with a move which aims to support the Club’s existing claims team in the UAE and underlines the insurer’s commitment to what is a dynamic region and provides an additional service level
ABB Industries to open new workshop in ASRY, providing certified turbocharger expertise, global warranties, and onsite access to worldwide network Ship and rig repair specialist ASRY reports that it has signed a co-operation agreement with ABB Industries (LLC), Dubai
NOAA announced that the wreck of the ship USCS Robert J. Walker, a steamer that served in the U.S. Coast Survey, a predecessor agency of NOAA’s Office of Coast Survey, has been added to the National Register of Historic Places. The Walker served as survey ship
Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said on Tuesday, likening the threat to a "time bomb" that could cost the industry billions of dollars. Willis highlighted the industry's vulnerability to cyber threats in its annual review of
The overwhelming majority of insurance claims analysed by TT Club have showed that costly damages and loss, as well as serious bodily injury can be prevented or significantly minimised by sensible and concerted risk management efforts. Speaking at this week’s TOC Container Supply Chain
Specialist transport insurance provider, TT Club has appointed a network partner in The Philippines. Del Rosario Pandiphil Inc. becomes the seventh such partner that the international logistics and freight handling insurer has in the Asia-Pacific region
Shipowner liability on the horizon as Denmark ratifies international instrument The Nairobi International Convention on the Removal Wrecks will enter into force on April 14, 2015 following the deposit, on April 14, 2014, of an instrument of ratification by Denmark
Shipowner liability is on the horizon as the Nairobi International Convention on the Removal Wrecks will enter into force on 14 April 2015 following the deposit, on 14 April 2014, of an instrument of ratification by Denmark, with the International Maritime Organization (IMO).
InterManager said it welcomes the adoption of new measures to protect seafarers against abandonment. Amendments to the Maritime Labour Convention 2006, agreed at a meeting of the International Labour Organization in Geneva last week, will ensure the provision of financial security systems to