Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …
Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-meter-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter …
Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S. court in California. The Chevron-chartered tanker Advantage Sweet was boarded by Iranian …
Lloyd’s of London insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore’s Francis Scott Key Bridge in March that caused widespread disruption, they said last Thursday. Some estimates for the total insured losses from …
War underwriters have raised the premiums they charge to U.S., British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …
Ukraine, which is seeking to form safe shipping routes in the Black Sea, has started registering ships willing to use the corridor it announced earlier this week, a local news agency said on Saturday. Ukraine on Thursday announced a “humanitarian …
Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes, insurer Allianz Global Corporate & Specialty (AGCS) said in a report on Tuesday. Two seafarers …
LONDON– Leading companies in the marine insurance industry have joined an initiative linking their underwriting activities with the cutting of carbon emissions from global shipping as pressure builds on the sector to go fully green. Last month countries including the …
Calif.-based Mariners General Insurance Group announced the addition of Richard (Rick) Mallard effective immediately. Mallard, a 34-year veteran of the marine and aviation industries, will assume all operations of the company’s regional office in Bradenton, Florida. Mallard’s hire in the …
Atlass Insurance Group, a global provider of commercial and marine insurance for more than 30 years, has enhanced its Prime Time Boat Insurance product, available through Atlass and other independent insurance agents nationwide. Since Prime Time’s launch last year the …