Insurance Security News

Once queen of the express liners, and the fastest, safest and biggest passenger liner in history, the SS United States today quietly awaits rescue from a pending cruise to the scrapyard. The Big Ship the Big U, the one that didn’t sink. The S.S. She is waiting for a rescue that may never come from an appointment with the scrap yard looming large on her summer schedule. And that would be a shame according to her many supporters, not the least of which was the late newsman and sailor, Walter Cronkite.

Seacurus has launched a new insurance policy to indemnify seafarers in the event of the financial default of their employers. CrewSEACURE is a new insurance product now available to all employers of seafarers required to satisfy new regulatory obligations under the Maritime Labour Convention 2006 and the International Guidelines on Seafarer Abandonment. The new policy, CrewSEACURE, provides up to USD10m of cover in the event of an employer’s financial default. It includes personal accident protection and covers medical expenses as well as subsistence and repatriation costs.

The Chief Executive of the International Marine Contractors Association (IMCA), Hugh Williams, 59, has announced his intention to stand down at the end of 2012 after 10 years in post. IMCA is the international trade association for offshore, marine and underwater engineering companies with about 850 members in over 60 countries all around the world. It focuses on offshore construction and marine operations mainly in support of offshore oil & gas, but also marine renewable energy, dredging and telecommunications cable laying.