marine insurance News

EC3 Brokers Launches Casualty and Cyber Specialty Division

EC3 Brokers announced the launch of its specialty division, with the appointment of Jonathon Lane as head of the division. Lane is joined by Dominic Toogood and Gary Moore. All three joined on May 1 and initially will report to …

Zurich Expands Marine Insurance Platform into Additional Countries, Regions

Zurich Insurance Group is expanding the roll-out of a new marine insurance platform for small and medium cargo, following its successful introduction in selected markets around the world. The Zurich Swift Insurance Platform provides intuitive, web-based access to insurance that …

Marsh Sees Hike in Demand for Political Violence Insurance in Gulf After Tanker Attacks

Marsh, one of the world’s largest insurance brokers and risk advisers, has seen a spike in clients’ inquiries for political violence cover in the Gulf after attacks on tankers and oil installations rattled the region last year, an executive said. …

Spike in Piracy in Singapore Strait Prompts Calls for Improved Security

Coastal nations around the Singapore Strait must step up surveillance and patrols of the strategic waterway after a sharp rise in piracy incidents last year, maritime watchdog ReCAAP said on Wednesday. The number of piracy and armed robbery incidents in …

Eight Crew Members Kidnapped from Greek Tanker Anchored Near Cameroon

Five Greeks, two Filipinos and a Ukrainian were abducted by unidentified assailants from the Greek-flagged tanker ‘Happy Lady’ while the vessel was anchored two nautical miles from Limboh port in Cameroon. The attack on the 28 crew-member ship took place …

Piracy Surges Along Southeast Asia’s Straits of Malacca and Singapore

Piracy has surged this year along Southeast Asia’s straits of Malacca and Singapore, one of the world’s busiest trade routes, according to a watch group that tracks maritime security. Incidents along the shipping choke point have risen to 30, from …

Pirates Attack Oil Tanker in West Africa, Kidnapping Another Crew

An oil tanker was attacked on Sunday in West Africa’s Gulf of Guinea and most of its crew were kidnapped, the latest in a string of incidents highlighting the security risks to shipping in the region. The vessel — an …

Shipping Industry and Insurers Face Uncertain New Fuel Risks and Rules

Faced with imminent new global marine pollution rules, shipping companies and insurers are puzzling over the risks. To reduce emissions of toxic sulfur that cause premature deaths, shipowners who have long relied on the dirtiest residues of oil extraction will …

Pirates Hijack Fully Loaded Supertanker Off Nigeria, Kidnapping 19 Crew

Pirates boarded a fully loaded supertanker off the coast of Nigeria, an act that is sure to ring alarm bells for insurers about the risk of collecting oil from Africa’s biggest producer. Nineteen crew were kidnapped and remain missing, a …

Greek Tanker Manager Denies Connection to Oil Leak Tarring Brazil’s Beaches

The manager of an oil tanker being probed by Brazilian authorities in connection with an oil spill off the country’s coast has found “no proof” of the vessel conducting activities that may have led to leaks on a journey between …