Cargo insurance market saw 33.8% YoY claims increase in 2022: IUMIThe cargo insurance market incurred $1.11bn of losses in 2022, an increase of 33.8 percent on the $831mn recorded in 2021, according to the International Union of Marine Insurance.
Miller bolsters marine team with Bisbas hireMiller has named Andreas Bisbas as chairman of marine mutual reinsurance and head of mutual war within its growing marine team.
Rokstone unveils double NY hire amid North American marine pushRokstone has made a double hire in its New York office in the latest additions to the Aventum Group-owned MGA’s North American platform.
Fiducia MGA launches marine equipment underwriting facility for offshore projectsBP Marsh-backed specialty MGA Fiducia has launched a marine equipment underwriting facility for offshore energy and marine projects in the UK, with capacity provided by Berkshire Hathaway Specialty Insurance.
Gard board agrees 5% renewal premium increaseGard’s board of directors has agreed a 5 percent premium increase for the upcoming P&I renewal.
Lloyd’s marine insurers and Marsh McLennan critical to Zelensky’s imminent new Ukraine grain export schemeA number of Lloyd’s and London market marine insurers – including Ascot and Markel – have committed to supporting a groundbreaking partnership with the Ukrainian government that is expected to be unveiled later this month, The Insurer can reveal.
The invaluable role of the IUA MTC in marine insuranceMarkel International marine director Dan McCarthy explains how the International Underwriting Association and its Maritime Technical Committee have led the charge in supporting marine insurers with emerging and geopolitical risks, while bringing more representation to underwriters through lobbying activities with NGOs.
Gard and DNK launch war risk serviceP&I club Gard has entered into an agreement with the Norwegian Shipowners’ Mutual War Risks Insurance Association (DNK) to launch a war risk service.
New horizons in SingaporeJulian Franzman, executive director and head of marine, cargo and stock throughput (Asia Pacific) at Howden, explains how he and his team are building something exciting in Singapore.
RELA launches marine market propositionRenewable Energy Loss Adjusters has launched a new claims adjustment proposition dedicated to the marine market, led by CEO Alan Tucker.
Gallagher Specialty: P&I general increases to range from 2.5-7.5% over next three yearsProtection and indemnity clubs are expected to implement general increases of between 2.5 percent and 7.5 percent per year over the next three years, Gallagher Specialty has said in a new report.
Ex-Tokio Marine HCC marine head Carr re-emerges at ArkFormer Tokio Marine HCC head of marine and energy Darren Carr has been appointed head of marine consortium at Ark Syndicate Management.
QBE’s British Marine writes ~£3.2mn hull policy for sunk vessel VerityQBE subsidiary British Marine underwrote the hull policy for the Verity, a British cargo ship that is presumed to have sunk in the North Sea, The Insurer understands.
Rokstone continues NA build-out with AIG marine head NukkRokstone has made yet another senior addition to its North American platform after the Aventum Group-owned MGA brought in Mike Nukk from AIG as head of marine in the region, The Insurer can reveal.
Simplifying complexityRussell Group’s Suki Basi on why the complexity of events impacting specialty classes is changing decision-making.
Gallagher adds Corps to round off Miller marine hiresGallagher has appointed Debbie Corps as an associate director for marine claims, completing a quadruple hire from Miller’s marine team, The Insurer can reveal.
Marsh: Climate change risk a key concern for marine and cargo industryOrganisations in the marine, cargo and logistics industry are increasingly concerned with business interruption risks from the impacts of severe weather events and climate change on important trade routes, a new report by Marsh has highlighted.
Aviation war market gives notice to certain Israel-domiciled airlines as cover tightensAviation war market players have given notice to certain Israel-based insureds, with both the hull war and AVN52 market looking to shorten notice periods for these airlines, The Insurer understands.
BHSI hires Ascot’s Ben Wyatt as head of marine USBerkshire Hathaway Specialty Insurance has recruited Ascot US’ head of cargo Ben Wyatt to serve as its new head of marine US, The Insurer can reveal.
Spain’s €855mn oil spill judgment against insurers must be settled through UK arbitrationA UK court has ruled that a Spanish judgment forcing a P&I mutual to pay €855mn in relation to the MV Prestige sinking and oil spill in 2002 cannot be upheld, finding instead that the case must go through arbitration in London.