Navium Marine News

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

Inside faceless office buildings scattered around London, a niche corner of the insurance market is keeping hundreds of billions of dollars in commodity trade moving through some of the world’s most dangerous waters. As conflicts rage in the Middle East …

Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. The British-flagged 56-meter-long (184-foot-long) yacht, …

Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say

Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-meter-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter …