Maritime News

U.S. Pressures Insurers, Certifiers, Shippers in Enforcing Tougher Sanctions on Venezuela

Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the Latin American country. U.S. sanctions have …

Fidelis Group Holdings Launches Master Port Risk Program for Maritime Industry

Fidelis Group Holdings, LLC (FGH) with its subsidiary company Continental Underwriters, Ltd. (CUL), have launched a new Master Port Risk Program. According to H. Elder Brown, Jr., president and chief executive officer the Master Port Risk Program provides commercial vessel …

Shipping Losses Down in 2014 But New Threats Loom: Allianz

Shipping losses declined to 75 during 2014, a 32 percent drop from the previous year and well below the 10-year loss average of 127, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015. …

Willis Launches New Policy to Cover Repatriation Costs for Stranded Seafarers

Willis Group Holdings has launched a new liability insurance policy to cover the costs associated with repatriating stranded seafarers. The Maritime Labor Convention, 2006 (MLC) which came into force on August 20, states that flag states are responsible for repatriating …

Seacurus Launches Marine Insurance Coverage for Unpaid Crew Wages

Marine insurance intermediary Seacurus has launched a new insurance policy to indemnify seafarers in the event of the financial default of their employers and includes recompense in respect of unpaid crew wages. The policy will enable all employers of seafarers …

Dryad Maritime Expands With New UK Office

Dryad Maritime – a commercial specialist in maritime intelligence in the UK- has opened a new office development in Hastings, UK. The move is the next phase in a major program of expansion and comes as Dryad looks to harness …

Willis Marine Market Review Forecasts ‘Another Difficult Year’

After an inauspicious start, 2012 could well be “another difficult and uncertain year for the maritime industry faced with the aftermath of the Costa Concordia, further problems in the euro zone, pirate attacks and increased sanctions,” according to Willis Global …

Marsh Introduces Maritime Security Facility

Marsh has launched a new insurance facility to provide comprehensive insurance coverage for private maritime security companies. The broker and risk manager developed the facility to support the requirements of the London-based Security Association for the Maritime Industry (SAMI). The …

Catlin Boosts Hijack, Kidnap, Ransom Services with Partnerships

Catlin Group Limited has formed partnerships with two specialist risk management consultancies to enhance its services to clients with hijack, kidnap, extortion and wrongful detention exposures. The Bermuda-based insurer and reinsurer began working with both Drum Cussac and Compass Risk …