Lloyd’s of London insurer Ascot and broker Marsh on Friday launched marine cargo and war insurance for grain and food products moving from Ukrainian Black Sea ports on Friday, removing a barrier to getting shipments underway. Last week, Russia and Ukraine signed an agreement brokered by Turkey and the United Nations to reopen war-damaged grain… Continue reading Lloyd’s of London’s Ascot, Marsh Provide Marine Cargo Insurance for Ukraine Sea Corridor
Tag: marine cargo insurance
Supply-Chain Disruption Hits Production of Trailers Required to Haul Goods
Parts and labor shortages are crimping production at truck-trailer factories, undermining trucking companies’ efforts to expand capacity in a constrained freight transport market. According to transportation data provider ACT Research, manufacturers produced 25% more dry vans—the most common type of semitrailer used to haul goods—in 2019 than they do now, and industry turnaround times for… Continue reading Supply-Chain Disruption Hits Production of Trailers Required to Haul Goods
Parsyl Announces New Initiative with Lloyd’s to Offer Enhanced Coverages for Marine Cargo Classes
Parsyl, Inc. announced that Lloyd’s and a group of lead market syndicates are spearheading a new initiative to offer crafted risk coverage for sensitive shipments that incorporate the use of Parsyl’s Internet of Things (IoT) quality assurance and risk management solution. Parsyl, a supply chain data platform, was one of ten companies selected to participate… Continue reading Parsyl Announces New Initiative with Lloyd’s to Offer Enhanced Coverages for Marine Cargo Classes
AIG Unit to Exit Iran-Related Insurance Business
American International Group Inc (AIG) is exiting business activities in Iran that came with a subsidiary it acquired and which now butt up against the sanctions against Iran that have been reimposed by the Trump administration, according to a filing. Validus Holdings Ltd, a Bermuda-based reinsurer that AIG acquired for $5.56 billion in July, is… Continue reading AIG Unit to Exit Iran-Related Insurance Business
InsurTech Corvus Names Charles Hamilton as Head of Cargo Underwriting
Boston-based InsurTech company, Corvus, welcomes Charles Hamilton as the new VP, Head of Cargo Underwriting. Hamilton joins Corvus with over seventeen years in the insurance industry. He previously worked in the marine unit at Berkshire Hathaway Specialty Insurance. “Charles has experience in all types of Marine Cargo and a track record of success with some… Continue reading InsurTech Corvus Names Charles Hamilton as Head of Cargo Underwriting