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Marine tag returned 121 results

  • Major APAC ports could face $110bn losses in an extreme cyber attack

    A single cyber attack in Asia Pacific could cost a substantial $110bn in an extreme scenario in which a computer virus infects 15 ports across Japan, Malaysia, Singapore, South Korea and China. This finding was revealed in a new research report entitled 'Shen attack: Cyber risk in Asia Pacific ports' which has been jointly produced by the Cyber Risk Management (CyRiM) project led by Nanyang Technological University, in collaboration with industry partners and academic experts including Lloyd's, a founding member of CyRiM.

    Asia | 04 Nov 2019
  • China: First online shipping insurance trading platform launched

    China's first online shipping insurance trading platform was launched on 18 October in Nansha in the southern metropolis of Guangzhou.

    Asia | 23 Oct 2019
  • Kuwait: Gulf tensions raise the cost of insurance on Kuwaiti oil tankers by 775%

    The cost of insuring Kuwait's oil tankers jumped by 775% in three months due to tensions in the Gulf region and international tankers being subjected to sabotage, reported Reuters.

    Middle East | 07 Oct 2019
  • Modest rise in marine premiums no cure for ailing sector

    Data released by the International Union of Marine Insurance (IUMI) reveals that marine underwriting premiums for 2018 marginally increased by 1% on year to $28.9bn. Although with significant challenges facing the market, the modest rise is not enough to declare an improvement in the fortunes of the marine insurance sector, said IUMI Facts & Figures Committee vice chair Astrid Seltmann.

    AIRPlus | 18 Sep 2019
  • ArgoGlobal Lloyd's syndicate to exit Asia and global hull underwriting

    ArgoGlobal recently announced plans to cease its Syndicate 1200's underwriting operations in Asia and most of its hull underwriting business within the syndicate. All existing policies remain valid, with claims to be handled via its London operation.

    AIRPlus | 09 Sep 2019
  • US-China tensions: unmanned military craft raise risk of war

    The immediate danger from militarized artificial intelligence isn't hordes of killer robots, nor the exponential pace of a new arms race.

    Asia Risk | 14 Aug 2019
  • China: Standard Club obtains underwriting licence in HK

    The Standard Club has expanded its presence in Greater China after its Singapore based subsidiary, Standard Asia, gained authorisation earlier this year to carry on insurance business in Hong Kong.

    Asia | 13 Aug 2019
  • Middle East: All eyes on Strait of Hormuz

    Experts in the insurance industry have confirmed that the London-based Joint War Committee (JWC) has not announced any increase in the risk of war on ships in the Arabian Gulf, since the 19 July seizure of a British tanker by Iran in the Strait of Hormuz.

    Middle East | 24 Jul 2019
  • Middle East: Impact of war with Iran being assessed

    Surging oil and gas prices, skyrocketing insurance costs and attacks on energy and banking infrastructure are likely to follow quickly if Iran's interception last week of two UK-linked tankers spirals into outright war, reported Bloomberg.

    Middle East | 21 Jul 2019
  • Singapore-headquartered marine underwriter receives approval to operate in India

    EF Marine is now an approved insurance provider for ships entering Indian territorial waters in accordance to the country's merchant shipping rules stipulated by the Directorate General of Shipping. The marine underwriter provides fixed premium protection and indemnity (P&I) solutions to ship-owners, charterers and multimodal operators with Swiss Re Corporate Solutions being its exclusive insurance carrier for all products.

    Asia | 17 Jul 2019

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