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Insurance Policy News

20 Sep 2022

Marine License Insurance: Do You Need It?

Sponsored Content:Every year, many professional mariners become involved in accidents that trigger a USCG investigation.Imagine working aboard a vessel and, suddenly, you’re involved in a maritime accident that triggers a Coast Guard investigation. In the blink of an eye, your career and USCG license are in serious jeopardy. Every year, this scenario is reality for professional mariners throughout the U.S. Fortunately, MOPS Marine License Insurance can change that.What is Marine…

19 Sep 2022

Marine License Insurance: Do You Need It?

Sponsored Content:Every year, many professional mariners become involved in accidents that trigger a USCG investigation.Imagine working aboard a vessel and, suddenly, you’re involved in a maritime accident that triggers a Coast Guard investigation. In the blink of an eye, your career and USCG license are in serious jeopardy. Every year, this scenario is reality for professional mariners throughout the U.S. Fortunately, MOPS Marine License Insurance can change that.What is Marine…

16 Sep 2022

Marine License Insurance: Do You Need It?

Sponsored Content:Every year, many professional mariners become involved in accidents that trigger a USCG investigation.Imagine working aboard a vessel and, suddenly, you’re involved in a maritime accident that triggers a Coast Guard investigation. In the blink of an eye, your career and USCG license are in serious jeopardy. Every year, this scenario is reality for professional mariners throughout the U.S. Fortunately, MOPS Marine License Insurance can change that.What is Marine…

11 Mar 2022

What is the Insured’s Duty Under a Marine Insurance Policy? It Depends …

© Aerial Mike / Adobe Stock

The law governing marine insurance in the United States has long been a source of considerable confusion. And if there was once a clear set of principles applicable in such cases, the Supreme Court long ago muddied the waters with their infamous ruling in Wilburn Boat Co. v. Fireman’s Fund Ins. Co., 348 U.S. 310 (1955). That case, involving a fire on a houseboat on an inland man-made lake on the Texas-Oklahoma border, established the “litmus test” for when maritime law should…

29 Jun 2021

Royal Caribbean Asks Unvaccinated Passengers to Get Travel Insurance

© eqroy / Adobe Stock

Royal Caribbean International said on Tuesday it would require unvaccinated guests over 12 years of age traveling from Florida to show proof of insurance that covers COVID-19 related medical expenses, quarantine and evacuation.The new policy comes after two unvaccinated teenagers tested positive on its Adventure of the Seas ship and two others were infected on its Celebrity Millennium earlier this month, for which the cruise line took care of expenses.One of its trips, aboard the brand ship Odyssey of the Seas…

18 Feb 2021

'Fireboats are Basically an Insurance Policy'

(Photo: MetalCraft Marine)

“Fireboats are basically an insurance policy.” -Meeting minutes, Southeast Texas Waterways Advisory Council (SETWAC).Developments in America’s coastal ports are causing officials to closely review maritime safety operations and equipment. Fireboats draw a lot of attention. The reference here is to big fireboats – 40-50 feet, crewed by specially trained firefighters, outfitted with the equipment required to confront and take on a range of waterway emergencies. [CBRN is a frequent acronym used with these fireboats: Chemical…

23 Dec 2020

Wasted Words: Post-casualty Apologies Are ‘Sorry’ Excuses

© Steve / Adobe Stock

Vessel collisions on America’s busy inland waterways have been a fact of life for a very long time. With towboats, barges, ferries, oceangoing ships and recreational vessels all jockeying for position in limited space, collisions (and even more near misses) are inevitable.Most of these incidents involving professional mariners do not lead to suspension and revocation (S&R) proceedings against the involved USCG licensed mariners, but, depending on the human and/or financial costs associated with the collision…

15 Oct 2020

Bridge Heights Are Not Guesswork: Accuracy Is Imperative

© Lisa L. Bell / Adobe Stock

“Your true pilot cares nothing about anything on earth but the river, and the pride in his occupation surpasses the pride of kings.” -Mark Twain, Life on the Mississippi (1883).That statement made by the great chronicler and river pilot over 137 years ago is arguably as true today as it was then. But what has changed dramatically in the almost century and a half since then is the variety and complexity of the daily challenges that river pilots confront on our increasingly busy inland waterways.

12 Oct 2020

FPSOs: Hybrid Digital Twins Could Boost Safety and Cut Inspection Costs

FPSO specialist Bluewater and classification company DNV GL have teamed up in a pilot project aimed at testing how hybrid digital twin technology can predict and analyze fatigue in the hull of an FPSO in the North Sea, increase safety, and reduce operational costs and time by optimizing inspections.The project aims to validate and quantify the benefits of creating a virtual replica of the FPSO to optimize the structural safety of the vessel and enhance risk-based inspection (RBI)…

18 Jun 2020

Making the Case for Diesel Outboards

(Photo: OXE Marine)

Now more than ever, professional operators are opting to run outboard engines on a various small military craft, patrol boats, multi-mission workboats and other vessels that have traditionally been powered by small to midsized inboard engines.Using engines that can be mounted on the outside of a vessel instead of those requiring placement inside the hull presents a number of advantages, including space savings on board, easier access for maintenance as well as simpler, quicker replacement…

27 Mar 2020

Valaris to Lose $620,000 a Day Rig Deal with Total after BOP Drop off Angola

Valaris, the world's largest offshore drilling company by fleet size, is set to lose one of the most lucrative contracts in the offshore drilling industry today after it recently accidentally dropped a blowout preventer stack to seabed offshore Angola.The contract, at a day rate of $620,000 per day, is with the French oil major Total for the drillship Valaris DS-8. The Samsung GF12000 designed drilling rig has been drilling for Total since 2015.As previously reported, Valaris earlier in March said it had accidentally dropped Blowout Preventer Stack to the seafloor of Angola, while the rig was moving between well locations. It then warned the customer might seek to terminate the contract as a result of the incident.In an update on Thursday…

16 Oct 2019

“Minor” Incident Sends Mariner Down S&R Rabbit Hole

The twists and turns of any marine casualty investigation can be unpredictable, but what is predictable is the potentially crushing cost to defend your license, livelihood and professional reputation.It was early afternoon on a late summer day in a busy commercial and fishing port in coastal New England. The captain of an offshore supply vessel was returning to his company’s dock and was lining up to transit past the harbor’s fixed storm mitigation gate when he decided to ‘bail out’ on his approach because the tide was ebbing and the outbound current of approximately two knots was offsetting his vessel to the east. No stranger to these waters…

10 Oct 2019

New Online Marine License Insurance Program

Mariners looking for insurance have a new option that is touted as being fast and affordable, cared for immediately in an online format that is designed to be more expedient than ever.360 Coverage Pros launched a new Marine License Insurance Program for mariners that offers an entirely online buying experience combined with low monthly payment options and instant proof of coverage.Until now, the process of securing a marine license insurance policy involved requesting quotes,…

01 May 2019

Cancelled Ferry Contracts Renew Push for Grayling's Resignation

File Image: A P&O Ferry / Credit P&O

Britain's transport minister was under fresh pressure to resign after the government stacked up a 50 million pound ($65 million) loss for cancelling contracts to charter extra ferries to bring in essential supplies in the event of a no-deal Brexit.The decision to award the contracts has been a major political embarrassment after it emerged the government handed out a 14 million pound contract for extra ferries to a company that owned no ferries and published terms and conditions on its website that appeared to be for a takeaway food business.Then…

08 Apr 2019

Bahrain's First LNG Terminal Ready for Business

Bahrain expected to start LNG imports early this year; FSU on 20-year time charter to Bahrain LNG arrives in the GulfBahrain's first liquefied natural gas (LNG) floating unit arrived in the Gulf this week as the country gets ready for its maiden imports of the super-chilled fuel this year, data from Refinitiv Eikon showed.Bahrain Spirit, a floating storage unit (FSU) with a capacity of about 173,000 cubic meters, is currently anchored in Fujairah after docking in the United Arab Emirates region on Jan. 13, the data showed.The FSU is on a 20-year charter to Bahrain LNG, who is the developer of a wider receiving and regasification terminal within the Khalifa bin Salman Port facility…

18 Dec 2018

A Costly Lapse in Judgment

File Image (CREDIT Petty Officer 2nd Class Anthony L. Soto)

An allision in the maritime sector is defined as an accident in which a moving object strikes a stationary object (bridge fender, bridge deck, dock, dredging vessel, etc.). According to the Maritime Law Association (MLA) such an accident calls the “Oregon Rule” into play. Simply put, the Oregon Rule states that “…when a moving object hits a stationary object, the moving object is presumed at fault. The moving vessel thus has the burden of proving an alternate theory of causation…

19 Sep 2018

Naval Dome Call on Insurers to Revoke Clause CL 380

Itai Sela  (Photo: Naval Dome)

Naval Dome has called on marine insurers to revoke the controversial Clause CL 380 and implement policies that insure against the risk of cyber-attacks on ship systems.Speaking in Cape Town, South Africa, today during the International Union of Marine Insurance’s (IUMI) annual conference, Naval Dome CEO Itai Sela said that with the maritime industry increasingly moving towards connected, cloud-based technologies and autonomous operation, a 15-year-old Clause that excludes damage to computer systems…

26 Feb 2018

Hyundai Merchant Marine’s Expansion Plans: Drewry

Korean carrier Hyundai Merchant Marine (HMM)’s expansion plans are incompatible with market stability. Will it settle for more limited ambitions? An Analysis by Drewry. South Korean carrier Hyundai Merchant Marine (HMM) is back in the news with an impending order for as many as 14 Ultra Large Container Vessels (ULCV) of 22,000 teu and for its intriguing re-entrance into the Asia-Europe market as a vessel provider, with reports suggesting a new standalone service called Asia Europe Express (AEX) using 10 Classic Panamax ships of 4,700 teu will commence in April. The AEX ships would be the smallest deployed on the route that is usually reserved for ULCVs…

15 Dec 2016

Superior Adds Primary Crusher to Processing Portfolio

Photo: Superior Industries

Superior Industries, Inc., a U.S. based manufacturer and global supplier of bulk material processing and handling systems, has unveiled a new machinery solution for crushing applications called the Liberty Jaw Crusher. Functioning as a primary crusher, the unit compresses material in stone, concrete, asphalt, and ore applications. Superior acquired the original design in their 2015 acquisition of Canadian-based Clemro Western. After collecting customer feedback, Superior engineers redesigned the unit and added a number of new features.

11 Oct 2017

Inland Marine Insurance: Assuring Property and Goods Move Forward

Though water covers more than 70 percent of the Earth’s surface, businesses engaged in marine shipping operations and logistics, and other businesses that manufacture and ship product still have a lot of ground to cover getting their various goods to their final destinations. The ocean marine insurance market, the oldest insurance market in the world, was initially developed to protect these goods while crossing the ocean’s open waters, later to morph into a product to protect all international transportation regardless of mode.

19 Oct 2017

The Complicated Business of Marine Construction Worker Claims

© Goodluz / Adobe Stock

The right insurance policy could help you stay above water after a workplace incident. The day-to-day job of marine construction workers has many potential hazards. While restoring shorelines, dredging harbors, repairing bridges and building docks, they often operate heavy machinery. Manning cranes, forklifts and excavators day or night, it is not uncommon to work in sweltering heat, freezing cold temperatures and an array of other challenging weather conditions. With all of this in mind…

20 Feb 2018

Skuld Says Joint Marine Insurance Has Legal Black Hole

It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each other in respect of a co-insured loss. It is taken to be an implied term and the possibility of financial claims between co-assureds is irrelevant: the insurer will pay. If there are only two, an owner and a charterer, in the contractual chain, and if the charterer is held liable, then the matter goes no further: the insurer covers the loss and there is no recourse claim to be pursued. However, what happens if there is a guilty third party and the insurer wants to pursue a subrogated claim (against, say, a sub-charterer on materially back to back terms) to recover its financial outlay?

22 Nov 2016

Workboat vs. Jet Ski: A Mysterious Collision and Its Consequences

Randy O’Neill

As summer slowly fades to memory and commercial vessels have less frequent encounters with recreational vessels of all sizes, shapes and descriptions on America’s inland waterways, it might be a good time to review a strange, but not completely unusual incident that occurred in Louisiana on a navigable channel in the lower Mississippi River late last May. A workboat was pushing a small barge through a narrow tributary on a job to deliver it to its destination approximately twelve miles away from where the transit originated.