Ed hires Clarkson-led marine teamHeather Clarkson, a senior London market Aon marine executive, joins the private equity backed wholesaler Ed in early 2018 to become the managing director of the broker’s marine practice, Reinsurance can reveal.
Sirius Syndicate 1945 places marine book into run-offSirius has placed its marine cargo, treaty and yacht books of business at Lloyd’s into run off, Reinsurance can reveal.
London market marine merry-go-round continuesThe changes in the London market marine underwriting classes have continued this week with two significant departures.
Enderby to leave Marsh in London efficiency driveDominic Enderby, Marsh’s Marine UK Placement Leader, is one of the most prominent market figures likely to leave the broking giant following a recent restructuring, Reinsurance understands.
Lloyd’s needs to share data to improve market efficiencySenior industry executives gathered at Reinsurance’s ‘The Future of Cargo Insurance and Risk’ roundtable have called on Lloyd’s to do more to improve the distribution of data across the market.
London needs to be more ‘inventive’ to lure business away from local marketsThe London insurance market must innovate in order to win marine business over local markets, senior industry executives have said.
UK P&I insurer facing $1bn total limit loss from Prestige spillThe London Steam-Ship Owners’ Mutual Insurance Association, also known as the London Club, is facing a $1bn damages claim following a Spanish court order yesterday (15 November) in relation to the tanker Prestige sinking and oil spill in 2002.
Neon to launch Nordic platform Orca following JLT hiresLloyd’s insurer Neon will launch a Nordic platform, Orca Insurance Services, in 2018 following the hiring of an eight-strong marine team from the Swedish-headquartered underwriting agency Lavaretus Underwriting AB.
Piracy numbers continue to fall in 2017Despite the number of maritime piracy attacks continuing to decline, the International Maritime Bureau (IMB) has urged vigilance and greater collaboration from agencies and shipping companies to tackle the continued threat in a number of hotspots.
Cargo underwriters all at sea following Hanjin collapseA leading marine insurance lawyer has said the collapse of the Hanjin shipping firm last August has hit the appetite for the market to offer certain covers.
Governments need to better handle marine casualtiesDelegates at the International Union of Marine Insurance’s (IUMI) annual conference have been told international governments need to up their game when dealing with marine casualties.
Cyber clauses have to be examined says marine chiefThe Chairman of the international Union of Marine insurance’s (IUMI) Ocean Hull Committee, has warned underwriters need to re-examine their approach to cyber risk.
Marine insurers facing a “new era of disruption”Opening its annual conference in Tokyo this week, the president of the International Union of Marine Insurance (IUMI), Dieter Berg warned marine insurers that they are facing a new era of disruption.
Cargo still adrift warns DerrickThe chair of the International Union of Marine Insurance (IUMI) Cargo Committee, Nick Derrick has warned the specialist marine market that has to evolve if it is to remain sustainable.