Insurance, Legal & Finance – Page 4
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News
Insurance firm reports strong year
A marine insurance company has reported an operating result of US24.6m supported by strong investment income in 2019.
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NewsHow will COVID-19 impact on marine insurance?
The impact of coronavirus on marine insurance isn’t clear cut and a key issue is the extent to which policies respond where there is no physical damage, an insurance professional has stressed.
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NewsForce majeure and the coronavirus
According to William Cecil, Partner at law firm Haynes and Boone, the coronavirus outbreak has already caused a major downing of tools at far east shipyards.
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Nordic Marine Insurance
The West of England P&I Club has announced that it will acquire a significant stake in specialist marine insurance provider Nordic Marine Insurance.
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NewsLaw firm appoints new partners
An international law firm has strengthened its presence in the shipping and offshore sectors with the appointment of two new partners in London and Oslo.
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NewsGB£7.5m funds new offshore vessel
One of Scotland’s largest diving and marine contractors has purchased a new offshore construction vessel using GB£7.5m in funding from Clydesdale Bank, alongside its own capital.
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NewsYorkshire lending package for fleet expansion
MMS Offshore Renewable Services has used a major lending package from Yorkshire Bank, alongside its own capital, to acquire a new Damen Fast Crew Supplier Twin Axe vessel, named ‘MMS Superior’.
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NewsInsurance and finance driving vessel operating cost rise
An international accountant and shipping adviser has predicted that total operating costs in the shipping industry are expected to rise by 2.5% in 2019 and by 2.7% in 2020.
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NewsCitynet Insurance Brokers makes appointment
Citynet Insurance Brokers have appointed a new head of marine global placements.
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NewsPensions Regulator backing for maritime scheme
Ensign, which claims to be the UK’s only maritime pension specialist, has received master trust authorisation from The Pensions Regulator (TPR).
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NewsBantry Bay kelp licence battle continues
A judge in Ireland’s High Court has ruled that a licence for the mechanical extraction of kelp from Bantry Bay, Ireland cannot be reviewed because the process of issuing it has not yet been completed.
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NewsLaw firm partnership bolsters services
A global shipping law firm has established a development partnership which will boost the quality of its services.
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Key appointment in the offshore insurance market
The West of England, a leading A-rated mutual marine insurer, has announced the appointment of a key strategic hire to support its strategy of expansion in the offshore market.
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Malicious Vessel Seizure Insurance
Following recent events in the Straight of Hormuz, a new insurance offering will respond to a single peril of a ship taken by a foreign government, providing Loss of Hire costs and the services of a crisis management consultancy.
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NewsWaste law at sea not clear cut
A recent European Court of Justice (ECJ) case ruled that debris from a fire onboard a ship is excluded from international shipment of waste rules, but a law firm has stressed it leaves important questions unanswered.
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NewsGreen Marine invests to expand
An Orkney-based marine renewable services provider has moved office and purchased an additional vessel as it seeks to expand operations.
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Concerns remain for marine underwriting
An increased risk of large, more complex and costly claims has the potential to impact all marine underwriting sectors in 2019, the International Union of Marine Insurance (IUMI) has said.
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NewsMarine insurance can aid sustainability
Marine insurance firm Skuld has committed to contributing towards both commercial and environmental sustainability as reducing the ecological footprint of the marine industry becomes increasingly important.
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News
Robust underwriting performance
At the first quarter 2019 Board meeting, maritime insurer The Swedish Club reported that it had continued to deliver robust underwriting performance and preserve strong capital adequacy in 2018, amid challenging market conditions. A combined ratio of 99% was achieved.
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NewsThree common contract law mistakes
According to F. Daniel Knight a Shareholder at lawyers Chamberlain, Hrdlicka, White, Williams, & Aughtry, P.C. in Houston, Texas, European companies doing business in the US make three common contract mistakes.
