Home

Piracy

Europe, Losses, Marine, Piracy, Risk Management

Human error still titanic problem for marine market

As the maritime industry marks the centenary of the loss of the Titanic, a new study highlights that despite the advances in technology human error is still behind the vast majority of marine claims.

Europe, Marine, Marine, P&I, Piracy, Risk Management

Underwriters still want P&I Piracy involvement

The debate over whether the P&I Clubs should contribute to the general average of ransom payments is continuing with marine underwriters believing the clubs have a role to play.

Marine, North America, Piracy

SCI launch Piracy Study

The Executive Director of the Seaman’s Church Institute (SCI) has called on the insurance market to back its work into the study of the effects of piracy on seaman and their families.

Asia Pacific, Marine, Marine, Piracy

Northeast could be passage to new trade route says shipping chief

The successful navigation of two German vessels from South Korea to Rotterdam to become the first non Russian vessels to transverse the Northeast Passage from Asia to Europe has been hailed as a major breakthrough for world trade.

Asia Pacific, Captives, Marine, Piracy

Piracy K&R still a significant topic.

Ship owners and underwriters have been warned not to take the recent fall in  the pricing for kidnap & ransom for vessels in high risk areas a downwards trends with the expectation that costs will rise as the potential for increased piracy activity increases.

Brokers, Marine, MENA, Piracy

Piracy back on the agenda with new warning and new product

As the level and intensity of piracy attacks in and around the Gulf of Aden saw a British couple and their yacht seized, broker Aon has issued a urgent warning to shipowners and underwriters while reinsurance brokers RFIB has revealed a new protection initiative.

Asia Pacific, Captives, Marine, Piracy

Reinsurers’ marine fears ring true

Reinsurers with marine books have been growing increasingly concerned over the prospects for the year ahead. The fear has not been driven by rising losses but falling business levels amid fears that the global shipping market was in the doldrums and would remain so for some time.

Brokers, London, Marine, Piracy

Renewed piracy warning as industry fear surge in attacks

 

Specialist insurance broker Jardine Lloyd Thompson (JLT) has warned shipowners there need to be an increase in the level of preparedness when vessels use the Gulf of Aden and piracy attacks surge.

Brokers, Marine, MENA, Piracy, Risk Management

New anti piracy scheme gets insurer backing

London market insurer Hiscox is to its policyholders free membership of the latest initiative aimed mat combating the threat of piracy

Asia Pacific, Marine, Piracy

Piracy up in first half of the year with South East Asia area for renewed concern

Despite the efforts of an international naval task force and the risk management steps undertaken by owners and their insurers piracy attacks around the world more than doubled in the first six months of the year.

Claims, Marine, MENA, Piracy, Risk Management

Industry fires broadside over piracy

The threat of piracy continues to grow and the re/insurance market has been left to face a number of challenges which may lead to a situation where the very products it offers will need to be adapted.

IUMI, Losses, Marine, MENA, Piracy, Risk Management

Are insurers getting gun ho over piracy?

There is a growing disconnect between the views across the insurance and reinsurance markets over the thorny question of providing armed guards on vessels in piracy-prone waters.

© World Business Media Ltd 2012. All rights reserved.