marine risks News

Gaps in Insurance Cover Expose Shipping Firms to Cyber Risks

Shipping companies grappling with the threat of cyber attacks on vessels are finding insurance policies often fall short, officials involved in both industries say, a risk that could feed through into global prices. Digitalization means electricity networks, emergency services, industry …

Beazley Expands Marine Business by Buying Subsea Specialist Leviathan Facility

Beazley, a provider of specialist marine insurance, is expanding its marine offerings with the acquisition of London-based subsea specialist The Leviathan Facility. Beazley will acquire the majority of their existing book and renewal rights. In addition, principal Leviathan underwriters, Simon …

Shipping Industry Had Safest Year in a Decade in 2015: Allianz Report

The shipping industry saw its safest year in a decade in 2015, according to a new report from Allianz Global Corporate & Specialty (AGCS), with 85 total losses reported worldwide last year, down from 88 in 2014 and well below …

French Oil Tanker Likely Hijacked off Ivory Coast

A French-owned oil tanker missing off Ivory Coast with 17 sailors on board likely has been hijacked, an official with an international piracy watchdog said Monday, in what may be the latest attack by criminal gangs targeting the ships to …