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Reinsurance Companies News

27 Dec 2022

Japan Insurers in Talks with Reinsurers to Resume Coverage in Russian Waters

Credit:  Evgeny/AdobeStock

Three Japanese insurance companies that are set to halt marine coverage of risks related to the war in Ukraine starting next month are in talks with reinsurers to resume those operations, they said on Monday. Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance on Friday told shipowners that they would stop offering marine war insurance, which covers damage to ships from war in Russian waters, from Jan. 1, spokespeople at the companies said. Their comments confirmed local media reports on Saturday.

07 May 2013

Drydocks World Chairman to Participate at Mare Forum

Chairman, Khamis Juma Buamim

Drydocks World and Maritime World, one of the largest and most diversified shipyards in the world, announced that Chairman Khamis Juma Buamim, will participate in the Mare Forum, Rome, Italy where he will deliver a keynote address. The theme of the forum “Quo Vadis” (Where are you going?) is significant to the issues that will be raised during his address. This high profile annual event attracts a wide participation representing a global and diverse section of the maritime & offshore community including ship-owners…

12 Oct 2012

Crewsure Insurance Launches

Robert Johnston

A major new Insurance product, which assists shipowners and Managers in protecting the health and wellbeing of their shipboard personnel, and so meet their forthcoming legal obligations under the recently ratified Maritime Labour Convention (MLC), has just been launched. Seafarers deserve the same care and concern, the same rights to benefits, the same access to the best medical treatment, the same security expected and enjoyed by those who work ashore. This is the vision that has inspired the launch of Crewsure Marine…

11 Nov 2003

IUA supports market reforms

members in the London company market. mandate slip usage. encourage the initiative within the company market. standard. slips used for business incepted in London. LMP slip evolved to its present form. the LMP programme are built," says Stephen Cane, chairman of the IUA. insurance market as a whole. to increase acceptance. and shared market repositories. for the communication of data. outline for the proposals. reform programme," says Cane. insurance centre. insurance and reinsurance companies. association supporting the business environment in London. market. process of reform, to create an efficient and streamlined marketplace with improved service provided to clients.

20 Nov 2000

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.