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Marine Insurance Claims News

09 May 2022

Ship Insurance Claims to Rise as Black Sea Remains High Risk Area - Allianz

© nskyr2 / Adobe Stock

Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes, insurer Allianz Global Corporate & Specialty (AGCS) said in a report on Tuesday.Two seafarers have been killed and six merchant vessels hit by projectiles - sinking two of them - around Ukraine's coast since the start of Russia's invasion of its neighbor on Feb.

03 Feb 2022

Has Captain Cook’s Ship Endeavour Been Found?

WikiCommons/Illustration by Samuel Atkins

The Australian National Maritime Museum has announced a shipwreck found in Newport Harbor, off Rhode Island in the United States, has been confirmed as Captain Cook’s ship, HMB Endeavour.There have been very similar announcements made over the years but have they finally made a definitive case?By making its announcement, the Australian National Maritime Museum seems to have decided so, and there does seem to have been significant recent progress, centered on one shipwreck that matches the known details of the Endeavour closely.However…

11 Jul 2019

Shipping Losses Lowest This Century as New Dangers Emerge

The Allianz Global Corporate & Specialty AGCS) Safety & Shipping Review 2019 provides a unique and in-depth look at the emerging risks facing international shipping stakeholders.Large shipping losses are now at their lowest level this century having declined by over 50% year-on-year, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2019. The annual study analyzes reported shipping losses over 100 gross tons (GT). AGCS provides global marine and shipping insurance for all types of marine risk, from single vessels and shipments to the most complex fleets and multinational logistics businesses. All told, the Marine Line of Business contributed 11% to AGCS overall premium volume of EUR 8.2bn in 2018.

05 Jun 2019

Shipping Losses Declines by 65%

The international shipping industry is responsible for around 90% of world trade. There are around 60,000 merchant ships, transporting every kind of cargo.The world fleet is registered in over 150 nations, and manned by over a million seafarers, meaning the safety of vessels is critical. The maritime industry saw the number of total shipping losses of vessels over 100GT plummet during 2018 to 46 – the lowest total this century. To put this into context there were 207 total losses reported in 2000.The figures are published by the Safety and Shipping Review from Allianz Global Corporate & Specialty (AGCS) incorporating the statistics from the past 10 yearsShipping losses declined by a record level of more than 50% year-on-year from 98 in 2017…

18 Jul 2016

MTA Grows Portfolio with Magnificent Seven

Maritime Training Academy are adding to its portfolio of training courses with the addition of seven new Diplomas, confirming its position as a world leader in the provision of distance learning training within the maritime industry. The seven new training courses cover Maritime Firefighting, Marine Insurance Claims, Offshore Operations, Restoration of Historic Ships and Boats, the Role of the Superyacht Deckhand, Tanker Operations and Health and Safety in Ship Operations. All modules within a Diploma are written by one of the Maritime Training Academy’s carefully selected authors who are chosen for their extensive practical experience and expertise.

14 Jul 2016

Harry Diamond Celebrates 21 Yrs at WQIS

Harry Diamond, Vice President and Chief Claims Officer at WQIS, is celebrating 21 years with the company this year. Diamond is a graduate of LaSalle University with Bachelor of Arts degrees in social studies education and history; he also holds an Associate degree in Risk Management. He began his insurance career right out of college when he was hired by a brokerage firm whose main client was Keystone Shipping Company. Diamond continued with the firm for four years until he changed his career path because of “an itch that needed to be scratched” – his desire to be a teacher. For the next six years, Diamond taught eighth grade at St. Mary’s Interparochial School in the Society Hill area of Philadelphia, Pennsylvania.

24 Jun 2013

Puttick Joins WQIS as Assistant VP of Claims

The Water Quality Insurance Syndicate said that Ryan Puttick joined the team as Assistant Vice President of Claims. He brings almost a decade of extensive marine insurance claims knowledge and experience to this industry pioneer. “We are extremely excited to have Ryan join us,” says WQIS President & CEO Richard Hobbie. Ryan Puttick came to WQIS from Charles Taylor P&I Management, Inc. Standard P&I Club where he was the Claims Director for the past 9 years. Puttick received his Juris Doctor from New York Law School in 2004 and was admitted to the Bar in the States of New York and New Jersey that same year. He graduated in 2000 from the United States Merchant Marine Academy with a Bachelors of Science in Marine Transportation.

10 Apr 2013

LOC Group Acquires SCUA Middle East Consultancy

Pat Cannie

LOC Group is pleased to announce the acquisition of SCUA Middle East Consultancy with effect from April 1, 2013. This acquisition combines LOC Middle East and SCUA Middle East to form a team of nearly 30 staff, including marine engineers, master mariners, naval architects and civil/structural engineers with wide-ranging skills and knowledge. SCUA Middle East will become part of LOC Middle East, which will continue to respond to all types of marine insurance claims, casualty, loss prevention, engineering and energy issues in the shipping, oil and gas markets.

25 Aug 2011

Marine Insurance claims Training Initiative From Braemar

Braemar (incorporating The Salvage Association) has announced dates for its latest Port and Shipyard Familiarisation Courses to be held at Falmouth. The courses are part of the company’s ongoing commitment to assist its clients by providing background knowledge and understanding within the marine insurance claims market on aspects of ships, shipyards and their repair procedures. Taking place between 4th – 7th and 18th-– 21st October, the ever popular courses will deliver a practical insight into port operations, ships and ship repairs, and provide a bridge of knowledge between marine claims handling professionals and the ship repair and ship building sectors.

24 Aug 2011

Marine Insurance Claims Training Initiative from Braemar

Braemar (incorporating The Salvage Association) has announced dates for its latest Port and Shipyard Familiarisation Courses to be held at Falmouth. The courses are part of the company’s ongoing commitment to assist its clients by providing background knowledge and understanding within the marine insurance claims market on aspects of ships, shipyards and their repair procedures. Taking place between 4th – 7th and 18th-– 21st October, the ever popular courses will deliver a practical insight into port operations, ships and ship repairs, and provide a bridge of knowledge between marine claims handling professionals and the ship repair and ship building sectors.

18 Jan 2002

V.Ships Acquire AMA

V.Ships announces they have acquired the services of Associated Marine Adjusters Ltd., (AMA) Piraeus in a deal which increases the group's involvement in average adjusting and marine insurance claims consultancy, and strengthens V.Ships' commitment to the Greek market. The acquisition reflects V.Ships strategy to position itself as a global marine services provider, offering a full portfolio of services to the marine industry including technical management, crewing, commercial, financial, ship agency, consulting and leisure management services. AMA will now work alongside V.Ships' existing average adjusting company, Vanguard Adjusting Company Limited.

17 Feb 2006

IUMI 2006 Conference to Focus on Claim Reduction

Marine insurance claims are escalating. As a result, underwriters are adopting a much more active role in assessing the risks they are asked to cover in renewed efforts to reduce and control claims. The decision was taken by IUMI’s executive committee which met in London, and is being relayed to the worldwide membership. The chosen theme will run through the conference program, the planning of which is largely the responsibility of IUMI’s seven technical committees. These will meet in Berlin in April. There have been two changes among the committee chairmen. Lloyd’s underwriter Dominic Hoare now chairs the energy and offshore committee, and another Lloyd’s underwriter, Quentin Prebble, heads the loss prevention committee.