Lloyd's of London's Hiscox to provide insurance for Ukraine grain corridor
Hiscox is committed to a planned insurance consortium providing cover for ships travelling through a safe passage from Ukraine, its chief executive said on Wednesday, as the Lloyd's of London insurer shares plunged on a first-half loss.The first grain-carrying ship to leave Ukrainian ports in wartime, following a deal brokered by Ankara and the United Nations, safely anchored off Turkey's coast on Tuesday and is due to be inspected on Wednesday.Trade body the Lloyd's Market Association…
More Fuel on the Way to Puerto Ricans
Puerto Rico Governor Ricardo Rossello reported progress in getting fuel supplies to the island's 3.4 million inhabitants on Monday as they faced a 13th day largely without power after the U.S. territory was devastated by Hurricane Maria. "We've been increasing the number of gas stations that are open," Rossello said at a news briefing, with more than 720 gas stations now up and running. Puerto Rico relies on fuel supplies shipped from the mainland United States and distribution has been disrupted by the bad state of roads.
IMUA Intro to Commercial Inland Marine Course 2013
The Inland Marine Underwriters Association (IMUA) announced the 2014 dates for its Introduction to Commercial Inland Marine course. The two-day Introduction to Commercial Inland Marine course will be held at IMUA Headquarters, 14 Wall St., NYC, on September 19 & 20, 2013 from 9 a.m.-5 p.m. This two-day introductory course is designed to cover the basics of commercial inland marine insurance, with emphasis on the largest/key inland marine classes of business. “This intense two…
Insurance Market To Back Reform
The International Underwriting Association, Lloyd's and the Lloyd's Insurance Brokers' Committee have unveiled a jointly agreed program to reform business processes in the London insurance market. More than 350 organizations that form the market - insurance and reinsurance companies, Lloyd's syndicates and brokers - will now be asked to sign up to a document indicating support for the principles of the program. The report, London Market Principles 2001 (LMP2001), is based on a consultation document published in May, amended to accommodate the extensive feedback received. Ownership of the reforms extends widely across the market, with the common aim to improve customer service, speed up the way the market operates, and create long-term cost savings.
Bender to Repair Pemex Semi-Sub
Bender Shipbuilding & Repair Co., Inc., signed a contract with Pemex, the national oil company of Mexico, for the repair, refurbishment and dry docking of Pemex’s semi-submersible accommodation/maintenance vessel, the PSS Chemul. The 13,000 ton Chemul was recently drydocked in Mobile on the Mobile Heavy Lifter, a submersible heavy lift barge chartered in by Bender for the docking of the semi. Chemul was then towed to the work site at Bender's Yard 9, located on the east side of the Mobile River. "This contract represents Bender's entry into this class of repair work on offshore rigs and vessels and we are very appreciative of Pemex's confidence in Bender for awarding us this job,” said Tom Bender, company president.
