TT Club Strengthens Middle East Presence
Specialist freight transport insurance provider TT Club said it is reinforcing its presence in Dubai with a move which aims to support the Club’s existing claims team in the UAE and underlines the insurer’s commitment to what is a dynamic region and provides an additional service level to both Members and brokers in the Middle East. Julien Horn, having already been TT’s underwriter dedicated to the Middle East for some six years now, will relocate to Dubai on secondment to Through Transport Mutual Services (Gulf), the Club’s long established joint venture Network Partner.
Port Operators Risk Inadequate Insurance Cover
Speaking at the Panama Maritime VI World Conference, Dan Negron, vice president at Through Transport Mutual Services (Americas), stated that port operators face significant liability risk unless they are properly advised by specialist insurers and are in possession of a bespoke port and terminals policy. The devastation caused to New York in the September 11 terrorist attacks has inevitably led to repercussions in the insurance markets. Reports from market analysts contain the sobering conclusion that reinsurance capacity will diminish significantly in the foreseeable future. Consequently, many weaker insurers will either restrict their coverages, or will consolidate with others in order to maintain their capacity.
