Cargo News

Insurers Unlikely to Be Impaired by Claims From Tianjin Port Explosion: S&P

Insurers are unlikely to be impaired by the loss claims from the explosions in the Chinese Port of Tianjin last week, according to a report from Standard & Poor’s. “Based on our initial investigation, we expect most of the affected …

A.M. Best Places 2 Chinese Insurers’ Ratings Under Review After Tianjin Blast

As a result of losses resulting from the recent explosions at Tianjin port, A.M. Best has placed under review with negative implications the financial strength rating of two Chinese insurers, which have large exposures to the losses of their motor vehicle …

Port of Tianjin Blast Highlights Growth of Accumulation Risks: IUMI

The explosions that recently devastated the Port of Tianjin highlight the danger of accumulation risks – when a single event causes an exceptionally large group of related losses, said the International Union of Marine Insurance (IUMI). IUMI President Dieter Berg …

Auto Makers Seek to Limit Data Sharing with Tech Partners

Carmakers are limiting the data they share with technology partners Apple Inc and Google Inc through new systems that link smartphones to vehicle infotainment systems, defending access to information about what drivers do in their cars. Auto companies hope that …

Iran Flexes Military Muscle in Persian Gulf, Amid Rising Tensions

With tensions over its roles in Yemen, Iraq and Syria already high, Iran is flexing its military muscle in the Persian Gulf. For the third time in as many weeks, Islamic Revolutionary Guard Corps patrol boats have fired at or …

Iranian Boats Fired Shots Across Bow of Singapore-Flagged Ship in Persian Gulf

Four Iranian patrol boats fired warning shots across the bow of a Singapore-flagged merchant ship in the Persian Gulf on Thursday before it escaped into the territorial waters of the United Arab Emirates, according to the U.A.E.’s coast guard. “The …

Growing Yemen War Risk Threatens Vital Sea Routes; Premiums Likely to Jump

With Middle East giants Saudi Arabia and Iran squaring up on opposing sides in the Yemen war, the dangers to vital oil tanker and goods voyages are growing daily. Millions of barrels of oil pass through the Bab el-Mandeb and …

DUAL Launches Marine Operations in The Netherlands

DUAL, the underwriting agency arm of Hyperion Insurance Group, has opened its first office in The Netherlands. The Rotterdam office will initially write marine and energy lines with DUAL’s complete suite of products added over time, according to DUAL in …

Yemen Conflict Adds to Worries for Ships Dodging Pirates, Terror

When it comes to world trade, a 17-day shortcut trumps terror, piracy and now bombs. That’s the time a supertanker saves by using the Bab el-Mandeb waterway that skirts Yemen at the southern tip of the Arabian Peninsula, rather than …

Claim Concepts & Solutions – CC&S is pleased to announce the formation of its sister company Recovery Concepts & Solutions, LLC – RC&S, providing Expert Subrogation & Tort Recovery

CC&S is a premier national auditing group providing specialized audits to the risk industry including, best practices,  reserve adequacy, inventory evaluations, claim file audits and inventory reduction concepts and methodologies. In line with CC&S depth and focus, RC&S combines seasoned, …