‘Excellent’ rating for UK War Risks

Posted by Joseph R. Fonseca
Sunday, April 27, 2014
Excellent Rating for UK War Risks

 

The UK War Risks Club announced the affirmation of its A- ‘Excellent’ financial strength rating with a ‘Stable’ outlook from the insurance rating agency AM Best.

AM Best’s rating reflects the Club’s “excellent risk-adjusted capitalisation, track record of good operating performance and its established business profile as a specialist underwriter of war risk insurance for ships.”

Club Manager Andrew Ward welcomed this confirmation of the Club’s financial rating: “The continuing ‘Excellent’ rating by AM Best re-affirms the UK War Risks Club’s financial strength and stability. Shipowners and their insurance brokers who seek independent and trusted information in a volatile and niche class of insurance will find this assessment encouraging.”

Despite the volatility of this sector, the UK War Risks Club continued its policy of returning premiums to Members at the 2014 renewal, as well as reducing its annual rates to Members. It remains committed to providing high quality cover and service at competitive rates.

www.ukwarrisks.com

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Maritime Security

High Seas Becoming Less Secure

Despite the significant reduction in piracy attacks over the last few years it is now widely accepted by the maritime community that the safety of the High Seas

Subsea Defense & the Changing Paradigm of Submarine Programs

Technology and dynamic mission profiles have driven change in the defense industry, Hydro Group Plc Managing Director Doug Whyte, explores the changing paradigm of submarine programs,

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

News

USCG Medevacs Man From Sailboat off NC Coast

The Coast Guard medevaced an injured 62-year-old man from his sailboat Thursday approximately 100 miles east of Kill Devil Hills. Watchstanders at the Fifth

Findland Fairway Due Law

Based on the Finland Ministry of Transport and Communication’s maritime strategy, the Finnish parliament has announced a final and lawful decision on the new

ESSA's Fleet Upgradation Environmental Driven

State-controlled Exportadora de Sal SA de CV of Mexico ("ESSA"), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened

Marine Equipment

ESSA's Fleet Upgradation Environmental Driven

State-controlled Exportadora de Sal SA de CV of Mexico ("ESSA"), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened

MSC Magnifica Completes Drydocking at Damen Shiprepair

After a very fast and successful 17-day drydocking the cruise ship MSC Magnifica left Damen Shiprepair Rotterdam (part of Damen Shiprepair & Conversion) for

DNV GL “Modification Excellence Award” for Schiffahrt

Classification society DNV GL recognised that E.R. Schiffahrt has retrofitted seven ultra large container vessels to meet the highest energy efficiency standards

Maritime Safety

High Seas Becoming Less Secure

Despite the significant reduction in piracy attacks over the last few years it is now widely accepted by the maritime community that the safety of the High Seas

USCG Suspend Search for Crabber Near Anacortes, Wash.

The Coast Guard has suspended the search for a crabber reported overdue near Anacortes, Wednesday. Dean Harvey, 48, of Bremerton, remains missing. Search

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Vessels

ESSA's Fleet Upgradation Environmental Driven

State-controlled Exportadora de Sal SA de CV of Mexico ("ESSA"), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened

MSC Magnifica Completes Drydocking at Damen Shiprepair

After a very fast and successful 17-day drydocking the cruise ship MSC Magnifica left Damen Shiprepair Rotterdam (part of Damen Shiprepair & Conversion) for

Rolls-Royce Bags £12 mi Order from Myklebusthaug Management

Rolls-Royce has won a £12 million order to provide design, integrated power and propulsion systems and equipment for a highly advanced multipurpose service vessel

Insurance

High Seas Becoming Less Secure

Despite the significant reduction in piracy attacks over the last few years it is now widely accepted by the maritime community that the safety of the High Seas

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

Night Moves on America's Waterways

Overnight operations are certainly not unusual on America’s inland waterways, but that doesn’t make them any less hazardous. Onboard activities that seem so straightforward

Consulting

Kleven Wins New Yacht Contract

Norwegian ship builder Kleven has secured a new contract for a high specification, 116-metre long Expedition Support Vessel. The order is placed by Mr Graeme Hart,

Third Strike, Mansour Is Out

The M/V "MANSOUR M" with IMO number 7600586 has been banned for the 3rd time after subsequent detentions after the second refusal of access order in the Paris MoU region.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1213 sec (8 req/sec)