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Insurance

Keep informed with daily analysis and insight into shipping insurance to reduce risk, support reinsurance decisions, manage investments and identify exposure within the maritime industry

Middle East tensions fail to move dial on war risk rates

MSC Aries hijack and Iranian missile onslaught see little impact on Red Sea premiums and small hardening of Middle East Gulf trips

Red Sea Risk Insurance

Cargo interests face long wait over Dali general average call

General average shares the cost of a salvage between the shipowner and cargo owners. How much is eventually paid will not be known until long after the cargo has been delivered

Containers Insurance

FBI opens criminal investigation into Key Bridge allision

FBI agents boarded Dali on Monday as part of a criminal investigation into the catastrophic Key Bridge allision, the Washington Post reported. A port worker told a CNN affiliate in the days following the incident the ship was experiencing severe electrical problems while in port, but retracted their comments the following day. Determination of criminal negligence or wrongdoing could significantly impact the owner’s general average and limitation of liability claims

Casualty Law

Shipping warned of increasing risks as governments struggle to contain multiplied threats

War risk insurers are struggling to calculate exposure at any given moment in certain volatile areas

Insurance Political Risk and Trade

General average declared in Baltimore bridge collapse

Singapore-based Grace Ocean has declared a general average, a source told Lloyd’s List on Friday. The move means shippers with cargo on board Dali will have to chip in for salvage costs

Insurance Casualty

Marine insurance premiums won’t hit opcosts, Drewry predicts

P&I clubs approach underwriting balance, while H&M insurers still slugging it out for market share

Insurance International

Baltimore bridge collapse owners liability limitation bid has strong chance

As Britain’s most famous 20th-century judge Lord Denning once ruled, limitation of liability is ‘not a matter of justice’ but instead finds ‘justification in convenience’

International United States

Japan Club sees tonnage exodus

Fifth consecutive year of general increases is heavy burden for members, IG’s only Asian affiliate says

Insurance Japan

Troubled water over a bridge

Marine insurance is proving its value after the past week’s spectacular casualty in Baltimore

Lloyd List - The View Insurance

Delay cover will pick up bill for Baltimore waits… for minority that have it

‘Always accessible’ and ‘reachable on arrival’ warranties may come into play on voyage charters, lawyer adds

Containers Insurance

Baltimore bridge collapse vessel owners could still claim general average

The idea of GA has been around for over two millennia. But today’s cargo underwriters hate it and the International Union of Marine Insurance has campaigned against it for decades

Containers Insurance

Dali owners deny liability for Baltimore bridge collapse

‘The casualty was not due to any fault, neglect, or want of care on the part of petitioners, the vessel, or any persons or entities for whose acts petitioners may be responsible,’ insist lawyers for Grace Ocean and Synergy Marine

Insurance Containers
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