Treasury extends TRIA “Make Available” provision

Tuesday, June 22, 2004
The U.S. Department of the Treasury issued a Press Release stating that it is extending through 2005 the “make available” provision of the Terrorism Risk Insurance Act (TRIA). This provision requires certain insurers to make available in all their commercial property and casualty insurance policies coverage for losses due to covered acts of terrorism in a manner that does not materially differ from the terms, amounts, and other coverage limitations applicable to losses arising from events other than acts of terrorism. (HK Law).

Finance

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

 
 
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