Insurance Brokers News

10 Oct 2018

McLoughlin Joins North P&I Underwriting Team

Pic: North P&I Club

Global marine insurer provider North P&I Club has further strengthened its underwriting team with the appointment of a new U.K. based underwriter combined with some operational changes to a number of senior underwriting roles.Tom McLoughlin joined the team as an Underwriter last week, bringing with him a range of marine experience from his former roles with insurance brokers Marsh in London, and a significant tanker management company in Athens. Initially McLoughlin will work across all of the regional teams as he settles into his new role with the Club.Earlier in the year…

10 Oct 2016

Korean Register CEO Park Passed Away

Dr. B. S. Park ( Photo: Korean Register)

Dr. B. S. Park, Korean Register Chairman and CEO, has passed away after a short illness.   Dr. Park graduated from Korea Maritime and Ocean University in 1976 and joined Pan Ocean Shipping where he worked in a number of capacities until 2001. In that year he was appointed CEO of Welson Korea Insurance Brokers before becoming COO of Korea P&I Club in 2006. He appointed as Chairman and CEO of KR in December 2014.   Dr. Park was 63 and leaves a wife and two children.

24 Jan 2016

Global Insurers Plot Cautious Course to Iran

Image - Iran Photo OPEC

* Caution remains over U.S. SYDNEY/LONDON, Jan 24 (Reuters) - Global insurance firms are circling Iran for business opportunities following the lifting of sanctions - and the first test of their appetite could come in March when some Iranian companies seek new cover. Insurers, the reinsurers that share their risk and the brokers that forge deals are exploring ways to tap a market worth $7.4 billion in premiums after a nuclear accord between world powers and Tehran led to the removal of restrictions on financial dealings with Iran this month.

08 Sep 2015

Thomas Miller Awards Robin Travis Scholarship

Tobias Rennekamp

The UK P&I Club one of the leading shipping protection and indemnity mutual insurers,  has awarded Tobias Rennekamp the  Robin Travis Scholar for 2015. Tobias will spend three months in the Thomas Miller London office and the offices of selected lawyers, surveyors, insurance brokers and other shipping, transport and insurance businesses. Tobias is currently an Assistant Operations Officer at Liberty One Shipmanagement GmbH & Co KG in Bremen and is actively involved in all aspects of managing its fleet of handy size bulk carriers.

12 May 2015

Insights: Jane Bugler - Technical Director, IMCA

Jane Bugler (Photo: IMCA)

Our Offshore Annual edition of MarineNews headlines Jane Bugler, the Technical Director of the International Marine contractors Association (IMCA). Jane is a chartered chemical engineer who worked in the chemical industry for several years before joining the UK Health & Safety Executive (HSE), where she worked in a variety of roles (including work regarding pipeline regulation) before joining IMCA in 1997, when she became Technical Director. Today, Jane has overall responsibility for the extensive and varied technical program of IMCA and for liaison between IMCA and external organizations…

11 Mar 2015

Port of San Diego Generates $7.6b Regional Impact

Tenth Avenue Marine Terminal (Photo courtesy of the Port of San Diego)

The Port of San Diego plays a critical role in San Diego County's economic rebound by pumping more than $7.6 billion a year into the region from employment, sales and purchases of goods and services, according to a recent report. "The data confirms the Port of San Diego is a powerful regional economic engine with substantial benefits reaching far and wide," said Board of Port Commissioners Chairman Dan Malcolm. The report is based on 2013 data, the most recent year for which data is available.

11 Dec 2014

Tse Heads Risk Management, BMT Asia Pacific

Joanne Tse

BMT Asia Pacific, a subsidiary of BMT Group has appointed Joanne Tse as Head of Risk Management based in Hong Kong. The new appointment will help support the regional growth of risk consultancy services - principally in the transportation and construction sectors. Joanne will be actively involved in developing and managing risk projects for our growing client base. She brings more than 15 years of experience in the rail industry specialising in risk assessment and management, safety assurance, and corporate/enterprise risk management.

27 Apr 2014

‘Excellent’ rating for UK War Risks

Excellent Rating for UK War Risks

The UK War Risks Club announced the affirmation of its A- ‘Excellent’ financial strength rating with a ‘Stable’ outlook from the insurance rating agency AM Best. Club Manager Andrew Ward welcomed this confirmation of the Club’s financial rating: “The continuing ‘Excellent’ rating by AM Best re-affirms the UK War Risks Club’s financial strength and stability. Despite the volatility of this sector, the UK War Risks Club continued its policy of returning premiums to Members at the 2014 renewal, as well as reducing its annual rates to Members.

23 Apr 2014

Global Shipping Exposed to Cyber Threats

The next hacker playground: the open seas - and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. In this internet age, as more devices are hooked up online, so they become more vulnerable to attack. As industries like maritime and energy connect ships, containers and rigs to computer networks, they expose weaknesses that hackers can exploit. Hackers recently shut down a floating oil rig by tilting it, while another rig was so riddled with computer malware that it took 19 days to make it seaworthy again…

21 Mar 2014

TT Club Strengthens Middle East Presence

Julien Horn

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.

29 Oct 2013

AAIB Granted License to Operate in Somalia

William Wakeham

Regional insurance brokerage and risk management company AAIB first to be granted license to operate in Somalia as economic opportunities drive demand. Regional specialist in broking, risk management and consultancy Anglo Arab Insurance Brokers (AAIB), has broadened its footprint, within the Middle East and North Africa (MENA) region being the first international insurance broker to have been granted a licence to operate in Somalia. Formed in 2005 to focus exclusively on emerging markets…

02 Oct 2013

Piracy, Sanctions Top Shipowners’ List of Concerns

Legal and contractual issues, piracy and crime, and international sanctions are the most important areas of concern to merchant shipowners, according to a recent survey by the UK P&I Club. Close behind are crewing and personnel, insurance regulation, loss prevention, environmental legislation, shipboard risk management, cargo preparation and stowage, and port state control. Consequently, owners want information and advice from their P&I clubs on how to tackle the problems associated with these areas. Their priorities have been revealed by the UK P&I Club’s latest member survey. As one of the world’s largest marine mutuals, the UK P&I Club’s 122 million gross tons of international merchant shipping provides a representative cross section of the industry.

13 Sep 2013

Dry Land Big Row Benefits Lake Malawi Health Project

Photo courtesy of Thomas Miller P&I

Three heroic teams of oarsmen from Thomas Miller P&I in London as well as sister team at Thomas Miller Asia-Pacific have all successfully completed their legs of the Big Row charity event. In total some eighty teams from the international maritime community took part in a 'virtual' row of the length of Lake Malawi to raise funds for the ongoing refurbishment of the 'MV Chauncy Maples' as a medical clinic ship. The main event took place in Spitalfields Market in the City of London on the evening of the 11th September.

07 Aug 2013

Crewing Managers V. Ships in New Strategic Partnership

V.Ships Leisure (a provider of ship-management services to the passenger shipping industries) with V.Hospitality and MHG have formed a strategic partnership. The companies have a number of new joint projects in progress and the partnership will allow for a more effective collaboration. “We’re delighted to announce our partnership with MHG,” said Bertrand Petyt, Crew Operations Manager at V.Ships. “We have been working with MHG for many years and not only do we have a trusted and valued relationship but our companies’ philosophies and service standards are aligned.” The new partnership will include our hotel & cruise recruitment division V.Hospitality as well as our yacht recruitment division The Crew Network (Antibes).

06 Jun 2013

Following the Path of the Transport Revolution

Photo credit: Captain Katharine Sweeney

TT Club, established to fill a gap in insurance as the freight container revolutionized trade, celebrates 45 years dedicated service to the transport and logistics sector. In 1956, the first strengthened containers were loaded onto a spar deck of the converted tanker, Ideal X. This marked the fulfilment of a dream for American trucker Malcom McLean who had, since 1937, been working on how to reduce the long waiting hours for dockers to stow or unload his vehicles onto or off ships. The container age was quietly born.

29 May 2013

Greek Shipowners Hit by Tax Changes

Greek shipowners must now pay tonnage tax on ships operating under flags other than the Greek flag which are managed by companies based in Greece, or offshore companies which have a branch in Greece, operating under Law 89 of the Greek constitution. Michael Kotsapas, a partner with the Moore Stephens shipping team, said, “This new requirement to pay tonnage tax, effective from January 1, 2013, mirrors that which is already in existence for the Greek-flag merchant fleet. A large part of the Greek fleet currently sails under foreign flags, and therefore is impacted by the new tonnage tax regulations. Management companies are jointly liable with shipowning companies to pay the tax. Any foreign tonnage tax paid can be set off.

06 May 2013

Van Heck Launches “Green and Easy Oil Recovery”

Photo: Van Heck

Van Heck revealed its newest world premiere, a complete pump system that enables the controlled, contained, fast oil recovery after incorrect or off-spec fueling and in the event of grounding or calamity at sea. The pump, named Sea Trophy, ensures a fast, easy and well controlled solution for the removal of oil which will limit, or even eliminate any or all economic and environmental damages, not to mention the possible depredation of company image. Van Heck’s Sea Trophy underlines the motto “intervene…

22 Apr 2013

Caterpillar’s Marine Center of Excellence

CAT Marine Center of Excellence.

Highly automated, fully variable assembly process allows Cat to provide uniform service to a myriad of marine customers. But, MCOE is only one part of Cat’s new business strategy. In August of 2007, the first Cat marine engine left Caterpillar’s new Marine Center of Excellence (MCOE) in Greenville, South Carolina. In the ensuing years, countless engines have gone through the same process. Caterpillar Marine Power Systems brings together all the sales and service activities for Cat and MaK branded marine products within Caterpillar Inc.

04 Mar 2013

Looper Reed Expands Services

Shannon Thorne

Looper Reed & McGraw is pleased to announce the addition of Julia Palmer and Carrie Weitinger as Members and Shannon Thorne and Monika Moore as Associates to its Houston office. The addition of these four attorneys has added great depth to the firm's Admiralty, Onshore and Offshore Energy and Insurance Law Practices. Julia M. (Adams) Palmer, formerly Julia M. Adams, is an active member of the admiralty and energy bar. Her practice focuses on the representation of marine and energy interests, insurers, and insurance brokers.

15 Feb 2013

gplink: Remote monitoring system designed for CAT engines

Remote Tracking, Monitoring, and Notification Systems for Cat Powered yachts and vessels are here. The organization that provides premier power solutions in the medium- and high-speed segments with outputs from 93 to 16,000 kW in main propulsion and 10 to 7,680 kWe in marine generator sets, utilizing a sales and service network of more than 2,100 world-wide locations, has further increased its customer support for ocean-going, commercial marine and pleasure craft – wherever they are.

16 Jan 2013

Insurance Brokers Embrace UK Club Underwriting App

The UK Club has launched its “iPANDI” iPad based app to provide up to date underwriting information for members and their insurance brokers, even when on the move. The iPANDI app downloads underwriting data via the Club’s IT systems and presents it conveniently in both graphic and table formats. The data can be viewed off line, for example on planes or away from the office. Security is maintained by a unique licence key to access member information. The licence key is only entered once to initiate the data download to the iPad.

20 Aug 2012

5 ‘Gotchas’ of Marine Insurance

“Gotchas” are pitfalls, catches, bait and land mines – a kicker, snare or snag. They are surprises and, in the world of insurance, surprises are rarely a good thing. ‘Gotchas’ can be caused by different things. It may be the age of the coverage forms; it may be case law has moved on beyond the policy’s intent. Or, it may be there is a ‘disconnect’ between policy wording and current business practices. Sometimes, these things occur simply because some insurance contracts are impenetrable. Insurance policies are a distinctly difficult set of documents to understand.

25 Jun 2012

Insurance Advice for Marinas & Shipyards

Third party service providers can pose serious risk and liabilities for marina and shipyard owners. Without the proper due diligence these marine companies could find themselves footing large bills should a dispute occur. As a California insurance agency that specializes in ocean marine insurance for boat yards, marinas, yacht clubs, and commercial boating vessels/fleets, McDermott Costa Insurance Brokers also educates clients about best practices for reducing risk. A third party service provider is any vendor that provides services either to the marina or customers that use the marina. Third parties include repair services, vessel cleaning services, yacht brokers, surveyors, etc.

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