Insurance

  • Tensions Rise

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    Tensions over armed guards appear to be on the rise amongst the insurance industry. The recent claims at the IUMI conference that the organisation actively stands in favour of armed […]

  • Insurance Backing

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    More ship insurers are backing the use of private armed guards on merchant vessels at sea to combat Somali piracy as attacks and the resulting costs are set to rise […]

  • Critical Issues

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    Over 100 representatives from the German shipping community attended a seminar entitled ‘Sanctions, Drugs and Guns’ in Hamburg, Germany, which was hosted by North P&I club. Simon Williams, North’s associate […]

  • Armed Backing

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    Insurers are getting behind the idea of armed guards on ships. IUMI President Ole Wikborg has stated that while it took time to realise flag-State consensus on armed guards may […]

  • Piracy Insight

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    A report by insurers states that piracy is seasonal and increases near the end of the Monsoon season. It also reveals that pirates are attacking more often and further from […]

  • Underwriter Response

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    As the International Union of Marine Insurance prepares for its upcoming annual conference, president Ole Wikborg has spoken out on piracy. Mr Wikborg said the conference will have a significant […]

  • War Risk

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    The spate of pirate attacks off the coast of West Africa have led to changes in the War Risk excluded areas. Since a number of tankers have been attacked in […]

  • Whitelist Beckons

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    P&I Clubs are looking to establish a confidential list of “approved shipboard security providers”. The Clubs are reportedly inundated with requests from shipowners for guidance in deploying armed guards, and […]

  • Carriage Cover

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    With the use of armed guards onboard ships being more common place, there are real concerns about the potential liabilities associated with their use. Seacurus Ltd has launched a new […]

  • Insurance Costs

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    Shipowners are paying $120 million a year to insurers to protect vessels against the risk of attack by Somali pirates, the Lloyd’s Market Association said. Insurers paid out “significantly” more […]

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