War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said on Monday.
Tag: maritime insurance
North P&I and Standard Club Make Plans for Insurance Mega-Merger
North P&I and Standard Club are negotiating the terms of a merger that would create one of the largest mutual cover providers in the maritime industry. The combined club would provide coverage for approximately 400 million GT of vessels. “Standard Club and North now have the opportunity to create one of the world’s leading and… Continue reading North P&I and Standard Club Make Plans for Insurance Mega-Merger
Hiscox Announces Insurance Cover for Ships Taken by Nation States
Hiscox, the specialist global insurer, has developed a new security product to help protect shipping targeted by nation states. Malicious Vessel Seizure will respond to a single peril of a ship taken by a foreign government, providing Loss of Hire costs and the services of leading crisis management consultancy – Control Risks. Heightened tension in… Continue reading Hiscox Announces Insurance Cover for Ships Taken by Nation States
Cybersecurity in the Maritime Industry
The global shipping industry – much like air, road and rail transportation – is undergoing a technological revolution. From hull cleaning to collision avoidance systems, automation has made incredible advances in recent years. There is more to come, too. Norwegian company Yara has partnered with the engineering group Kongsberg with plans to launch the world’s… Continue reading Cybersecurity in the Maritime Industry