Willis North America Expands Marine Practice
Insurance Broker will Deliver Expertise to Maritime and Cargo Industries in Eastern Virginia and Mid-Atlantic Region. Willis North America, a unit of Willis Group Holdings, the global insurance broker with operations in Virginia, has announced two key appointments to strengthen its Marine Practice and drive growth across the region. Willis is a leading insurance broker that provides risk management and employee benefit solutions across a wide range of industries. With more than 2…
Marine Insurance Brokerage Makes Key Appointments
Willis North America, a unit of Willis Group Holdings, the global insurance broker with operations in Virginia, appoints two Client Advocates. Jeremy Sykes and Francesca Sykes have been appointed Client Advocates of the Willis Marine Practice, Willis of Virginia. They will be responsible for business development within the Marine Practice. Mr. Sykes and Ms. Sykes will also work to expand Willis’ footprint in the Virginia marketplace and align the company’s global resources to deliver outstanding risk management services to firms in the Marine industry. Commenting on these appointments, HB Whitmore, Managing Partner, Willis of Virginia said…
Maritime Industry, Marine Insurance, Difficult Year Ahead Says Willis
After an inauspicious start, 2012 will be another difficult and uncertain year for the maritime industry faced with the aftermath of the Costa Concordia, further problems in the Euro zone, pirate attacks and increased sanctions, according to the latist Willis Marine Market Review (part of Willis Group Holdings, the global insurance broker). The latest report reveals the Hull market is in a state of flux following the Costa Concordia disaster in January. Some underwriters in the London insurance market, which will bear the majority of the estimated USD 500m hull claim, are adamantly refusing premium reductions or even flat renewals. However, unaffected underwriters in the Far East and Scandinavia are more open to negotiations.
New Maritime Cargo Insurance – 'Undercover'
Willis Group Holdings has launched a new insurance facility, called Undercover, to protect cargo in transit and in store against all types of political violence, terrorism and war risks, informs shipping trade association Maritime London. The global risk adviser, insurance and reinsurance broker says that, in recent years, cargo losses worth more than one hundred million dollars have not been recovered under traditional cargo insurance policies due to critical exposures being excluded.
“Perfect Storm” Results in Most Challenging P&I Renewal
The upcoming Protection and Indemnity (P&I) renewal is poised to be the most challenging in a decade as a result of difficult economic conditions for ship operators, poor underwriting results and some of the largest claims in history, according to Willis Global Marine, a division of Willis Group Holdings plc (WSH:NYSE), the global insurance broker, in its annual P&I Market Review. The P&I market results last year (2011/12) showed a 13% increase in incurred claims, a 5.9% underwriting loss and only a 2.7% investment return. Total market free reserves increased marginally (4%) but tonnage increased by 9% over the same period. The market is therefore larger, but proportionately slightly weaker than the previous reporting period.
Ship Owners to See Reduced P&I Premiums in 2016
Despite protection and indemnity (P&I) Clubs announcing that they are trying to achieve on average 2% increases in premium, ship owners with good records can look forward to reductions in premiums for P&) insurance at the 2016 renewals, according to Willis Group Holdings, the global risk advisory, re/insurance broking, and human capital and benefits firm. “The International Group (IG) market has announced an average general increase of around 2%, with two or three clubs at zero, the majority around 2.5% and one club at 5%,” noted Willis in its P&I Review 2015/16 report.
Int’l Superyacht Society 2010/2012 Board
The International Superyacht Society (ISS) announced its 2010-2012 Board of Directors and Past Presidents Council. ISS elections are held annually by peer selection. Sylke auf dem Graben, Lürssen Werft GmbH & Co. John D. Dieter Jaenicke, Viking Recruitment Ltd.
The 3,800-ton Alaska Region Research Vessel (ARRV) R/V Sikuliaq was launched on Oct. 13, 2012, at Marinette Marine in Marinette, Wis. Sikuliaq (pronounced see-KOO-lee-ack) will be operated by the University of Alaska Fairbanks (UAF) School of Fisheries and Ocean Sciences for the National Science Foundation as part of the University-National Oceanographic Laboratory System (UNOLS) fleet. The 261-foot global class ice-capable research vessel R/V Sikuliaq was designed by Glosten Associates. "R/V Sikuliaq is one of the most advanced research vessels in the world," said NSF Director Subra Suresh.
SAFE Boats Names Willis VP of Program Management
SAFE Boats International has promoted Janice Willis to the position of Vice President Program Management. Willis joined SAFE Boats in December 2010 as a member of the Business Development team, and in 2014 became the Director of Program Management, leading the teams responsible for managing SBI’s fed-eral government program business in Bremerton including the USCG CB-OTH and USCBP CIV Programs. Willis has over 25 years’ experience in program management and contract administration. The past 10 years have been in the marine industry in the Pacific Northwest.
Engstrom is Named Willis' Seattle CEO
Willis has named Chris Engstrom CEO of its Seattle office, one of the global insurance broker's leading U.S. operations. Engstrom brings tremendous local market knowledge and 16 years of insurance industry experience. He previously served as senior vice president for Wagle Insurance Companies in Seattle.
Guido Perla Provides Design for Crowley Tugs
Guido Perla and Assoc., Inc., has recently completed contract design for Crowley Maritime Corp.'s subsidiary Vessel Management Services' series of three PRT Class (Prevention and Response) Tanker Assist/General Towing Z-Drive tugs. GPA is also furnishing complete detail modular construction engineering for the 140 ft. x 10,192 hp Caterpillar-powered PRT Class, which are currently under construction at Dakota Creek Industries in Anacortes, Wash. The vessels are designed as diesel powered twin Z-Drive propulsion tugboats, outfitted for tanker rescue, ocean towing, emergency oil spill response, fire fighting and harbor service. Propulsion is provided by two Caterpillar 3612B diesel engines, each rated 5,096 bhp @ 900 rpm, driving two Kamewa Aquamaster U.S.
Cyber Breaches Are a Top Risk, Shipping Execs Say
Shipping industry executives say the increased security threat from cyber and data privacy breaches is the number one risk to its sector, according to a new ranking released today by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. According to Willis Towers Watson’s Transportation Risk Index the second- and third-most pressing risks affecting the shipping sector are globalization of the customer base, and third-party security vulnerabilities.
Willis Limited Awarded Contract for Panama Canal
The Panama Canal Authority (ACP) announced that it has awarded a contract for insurance brokerage services to Willis Limited. Beginning October 2009, the firm will provide strategic counsel, as the ACP chooses the best policies to cover property, floating equipment, loss of income and maritime contingencies, among others. The contract will be for one year with an option to renew for three additional years. Willis Limited is also the ACP’s broker for its Owner Controlled Insurance Program that includes the Third Party Liability and Construction All Risk coverage for the design and construction of the new set of locks and the fourth dry excavation projects under the Panama Canal Expansion Program.
Energy Industry Needs Insurance Against Cyber Attacks
Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said on Tuesday, likening the threat to a "time bomb" that could cost the industry billions of dollars. Willis highlighted the industry's vulnerability to cyber threats in its annual review of the energy sector's insurance market, which called on insurers to find a way to provide cover. "A major energy catastrophe - on the same scale as ... Exxon Valdez or Deepwater Horizon - could be caused by a cyber attack, and, crucially, that cover for such a loss is generally not currently provided by the energy insurance market," the insurance broker said.
Buzby Confirmed as MARAD Administrator
The U.S. Senate has confirmed Mark H. Buzby as the new administrator of the Maritime Administration (MARAD). MARAD executive director Joel Szabat had been serving in lieu of the administrator following the departure of outgoing administrator Paul “Chip” Jaenichen. Buzby, who was nominated by President Donald Trump in June, is a U.S. Merchant Marine Academy (USMMA) alumnus and retired U.S. Navy admiral with a military career spanning over three decades at sea and ashore. He was most recently president and CEO of National Defense Transportation Association (NDTA).
AEU Announce Addition to Staff
Mike Lapeyrouse, President and CEO of The American Equity Underwriters (AEU) said that Andrea Mills has joined the AEU staff effective May 6, 2013. Andrea has been a broker for 25 years and for the last eight years has served as Vice President, Client Advocate at Willis – Mobile. She joins AEU as Senior Vice President – Director of Strategic Business Development. www.amequity.com
Pelling Joins HSBC Marine Division
Paul Pelling has been appointed a director of the Marine Division of Lloyd's insurance broker HSBC Insurance Brokers Limited. Paul has twenty years' experience of marine insurance broking, most recently as an Executive Director of the Marine Division of Aon Group. Prior to that he spent six years as an executive director and head of P&I at Willis Faber, and ten years with the Sedgwick Group, rising to the position of Director of Marine & Cargo. Pelling joins a diverse and expanding Marine Division at HSBC, which covers all areas of the industry, including hull and machinery, cargo, war risks, loss of hire and liability. Peter Ahlas, Chief Executive of the Marine, Cargo & Aviation Divisions at HSBC Insurance Brokers, says, "We are delighted that Paul has joined us.
XL Group Grows in Asia
XL Group strengthened its Insurance Marine team with the appointment of Mike Davies as Chief Underwriting Officer, Marine, Asia Pacific and Ian Picton as Senior Upstream Underwriter. Understanding the local industry and what is impacting it, is a key recruitment driver for XL Group. Explaining, Lee Meyrick, Chief Underwriting Officer, Global Marine and Offshore Energy, said: “Asia is an important market for our global clients and it plays a huge part in supply chain logistics for companies operating around the world. Mr. Meyrick added: “Mike has 35 years’ experience in the insurance industry and an in-depth understanding of the marine market across Asia. Mr.
Judge Halts Dredging Near Md. Shipyard
A Baltimore County judge ordered the owners of the Sparrows Point shipyard to temporarily stop dredging in the Patapsco River in Maryland. A Circuit Court Judge granted a temporary injunction to stop contractors from removing sediment in the river near the Key Bridge at the request of a group of Dundalk-area residents also opposed to a liquefied natural gas terminal planned for the site, according to a lawyer for the group. The Greater Dundalk Alliance's LNG opposition team alleges in its court filing that the dredging is stirring up toxins that will harm nearby residents and the Chesapeake Bay. The community group, however, must post a $750,000 bond by today to cover the company's revenue lost by not dredging, in the event that the contractors are allowed to resume the work.
Date for Diary: BlueTech & Blue Economy Summit & Expo
The Maritime Alliance promotes the 6th Annual event Novemeber 12-13, 2014 at the McMillin Companies Event Center in San Diego, CA as a unique opportunity to understand trends, network with leaders from the public and private sector, see innovative technologies by the exhibitors, and identify possible partners. Recent studies are helping us understand the size and dynamic nature of the Blue Economy and particularly the BlueTech sector that is enabling us to explore, measure and develop ocean industries like never before.
Oceanology International 2014: More Details Announced
Companies operating in the marine science and ocean technology have only one more month to submit an abstract for next year’s Oceanology International 2014 conference. Taking place at London ExCeL between Tuesday and Thursday, March 11 and 13, 2014, the next Oceanology International is due to be the busiest of its series, with already 86.6% of exhibition spacebooked and eightone-day conference programs taking place alongside three new panel discussions. Professor Ralph Rayner is again the overall conference chairman, and that many key players in the relevant sectors have agreed to chair a program in their area of expertise. Dr. Professor Michael Bruno, Dean, Stevens Institute of Technology, U.S. Justin Crump, CEO, Sibyline Risk and Security Consultancy, U.K.
Digital Marine Comms: Helping to Protect Our Borders
The U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO) is responsible for security and facilitation operations at 328 ports of entry throughout the United States. Missions include the pursuit, boarding and searching of suspect vessels, seizing vessels and contraband, and arresting violators. It is a difficult and dangerous job. To that end, CBP recently selected SAFE Boats International to design and build a 41-foot Coastal Interceptor Vessel (CIV) that is up to the task.
OTE Debuts in Providence
The inaugural OceanTech Expo (OTE) debuted today at the Rhode Island Convention Center. The industry-led expo, slated for September 5-7, will showcase new equipment, training and demonstrations of technologies in the marine science and ocean technology industries. OTE will feature emerging trends in subsea technologies and markets, as they pertain to: homeland security, port & harbor defense; military and government; offshore oil & gas; and marine science and exploration. Speaker: Charles A. Martinek, Captain, U.S. Speaker: Mr. Speaker: Mr. Speaker: Dr. F. Mary Williams, Director General, Institute of Ocean Technology (IOT) of the National Research Council of Canada, St. Speaker: Donald R. Moderator: Ms. Marianne Molchan, President, Molchan Marine Sciences, Inc.