Insurance, Legal & Finance – Page 8
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NewsFall in global insurance premium incomes continues
IUMI, the International Union of Marine Insurance, recently presented its annual statistical report on the marine insurance market at a conference in Tokyo. The association reported that global marine underwriting premiums for 2016 fell to USD 27.5 billion, a 9% reduction on the figure reported for 2015.
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NewsLegal questions around unmanned workboats
According to Charles Hattersley, Partner and Head of Marine at Ashfords, a Law practice in Exeter, UK, unmanned workboats are quickly appearing over the horizon, but the legal framework may end up playing catch-up with the rapid technological progress.
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NewsA strong first half for The Swedish Club
An international marine insurer has returned a solid performance for the first six months of the year in line with its strategy for growth.
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Carbon monoxide tragedy is bitter lesson for commercial vessel owners and operators
Mark Arries, 26, and Edward Ide, 21 died in their bunks on the scalloper ‘Eshcol’ in Whitby Harbour, UK in January 2014. The men died from carbon monoxide poisoning after leaving a gas cooker burning as they slept.
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NewsOffshore wind dispute could change marine construction contracts forever
In early August, the UK Supreme Court published its judgment in the long-running MT Højgaard v E.ON dispute regarding the failed grouted connections on the foundations at the Robin Rigg offshore wind farm. The Supreme Court overturned the Court of Appeal, and held in favour of E.ON.
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NewsRBS funding package enables Mainprize expansion
Mainprize Offshore Limited, a family-run workboat charter business operating multi-purpose vessels based in Scarborough, UK has expanded its fleet after receiving a funding package of almost £2m from the Royal Bank of Scotland.
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NewsHuman error accounts for 75% of marine liability losses
While huge strides continue to be made in improving marine safety, human error remains, by far, the most important factor in marine liability claims and losses, according to Allianz Global Corporate & Specialty (AGCS) in its Global Claims Review: Liability in Focus.
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IUMI reports continued increase in frequency of major vessel casualties
Statistics released at the International Union of Marine Insurance (IUMI) Annual Spring meeting in Hamburg have raised a series of issues that will continue to challenge marine underwriters for the foreseeable future.
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NewsInvestigation and enforcement following incidents on UK vessels
According to Patrick Bond, Director at UK law firm Thomas Miller Law, the company is regularly involved in cases following serious incidents and deaths on board vessels in the UK.
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NewsClub delivers in difficult trading conditions
At the closure of the renewal season, Sweden-headquartered mutual marine insurance company The Swedish Club has reported ‘performance in line with expectations and consistent with its strategy of balanced growth on a firm foundation’.
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Credit research service
Drewry Financial Research Services Ltd., the investment research arm of UK-headquartered global shipping consultancy Drewry, has announced the launch of a new credit research service for the global maritime sector.
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Marine Money Forum
The 8th annual Marine Money London Forum is set to take place on Wednesday 25th January 2017 at the Dorchester Hotel. With Brexit and protectionist trade policies being a theme for 2017 the shipping world has one more variable to consider in addition to over-tonnage and slowing demand.
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NewsThe Swedish Club runs groundbreaking seminar
Maritime insurer The Swedish Club opened its doors to senior shipowners and brokers from across Asia in November, welcoming them to the Club’s latest Marine Insurance Seminar, specifically designed for the Asian markets.
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Insurer releases ‘Endurance Guide’
According to UK-headquartered P&I club The Shipowners'' Club the low oil prices and shipping rates of the past few years have presented some of the greatest challenges ever faced by many of its members. With this in mind the Club has just released, together with CTRL an ''Endurance Guide'' to ...
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NewsMurky Waters: Marine licensing appeals and challenges
According to Lara Moore, Associate Solicitor in the Marine and Transport Team at UK law firm Ashfords, Marine licensing under the Marine and Coastal Access Act 2009 is a complex area but appeals and challenges can be made.
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NewsCollateral lies
Recently a marine test case at the UK’s Supreme Court (Versloot v HDI Gerling) ruled that so called ‘collateral lies’ were no longer grounds in themselves for a whole insurance claim to be thrown out.
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Close Brothers turns 40
UK-headquartered marine finance company Close Brothers Aviation and Marine recently announced its 40th birthday. The business was founded in 1976 by Victor Cannock, starting out as ‘Air and General Finance Limited’, before being acquired by Close Brothers in 1989.
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NewsAKD on trans-border arrests
Netherlands-based law firm AKD says suppliers of goods and services to the international shipping industry, such as bunker suppliers, can modify the jurisdiction clauses in their standard terms to explicitly include the Rotterdam Court, thereby making it possible to apply to the Rotterdam Court to issue trans-border arrest orders against ...
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NewsImmigration and manning rules for workboats in UK and Europe
A recent case, where a vessel was at risk of detention by Border Force UK, has thrown up some interesting questions concerning work permits, visas, immigration and manning rules, according to UK-headquartered marine solicitors Davies Johnson.
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NewsLaw firm launches guide to PI claims
A team of legal specialists at UK law firm Andrew Jackson has published an essential guide to crew and passenger personal injury claims for owners and skippers of vessels, and those who deal with claims at brokers, insurers and P&I clubs.
