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Marine tag returned 113 results

  • 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
  • New licensed broker enters Singapore market

    Windward Insurance Broker is now open for business with the approval of its licence by the Monetary Authority of Singapore (MAS) in February 2019 and the appointment of its core team members.

    Asia | 28 Jun 2019
  • Vietnam: General insurers welcome professional competency framework

    Vietnam's professional competency framework (PCF) for the general insurance industry was officially launched in Hanoi on 24 June and will provide insurers with a measuring tool for their own internal training as well as professional development for employees.

    Asia | 27 Jun 2019
  • Middle East: Ship & cargo insurance rates soar

    War risk premiums for a standard oil cargo from the Persian Gulf and the tanker hauling it can now cost upwards of $500,000, reported Bloomberg citing people familiar with the insurance market. Earlier this year, the same premiums would have cost owners less than 1/10 of that.

    Middle East | 26 Jun 2019
  • Oman: Ferry company sees huge jump in insurance premiums

    National Ferries Company (NFC), the wholly Omani government owned coastal transportation services operator, has said that it has been seeing insurance premium hikes since the waters off the Sultanate were included in a list of areas of 'perceived enhanced risks', following acts of sabotage targeting tankers in the Sea of Oman in the last two months.

    Middle East | 23 Jun 2019
  • Middle East: Tanker insurance costs rise following latest attacks

    Insurance costs for ships sailing through the Middle East have increased by at least 10% after attacks on two tankers in the Gulf of Oman on 13 June, with the potential for costs to rise further as regional tensions escalate, reported Reuters quoting ship insurers.

    Middle East | 16 Jun 2019
  • Asia Pacific: Region accounts for nearly 50% of global shipping losses in 2018

    Asia Pacific waters remain the top shipping loss region, accounting for 45% of losses globally in 2018, according to Allianz Global Corporate & Specialty SE's (AGCS) Safety & Shipping Review 2019.

    Asia | 05 Jun 2019
  • Middle East: London market widens list of waters deemed as high risk for shipping

    London's marine insurance market has widened the list of areas deemed high risk to include waters off Oman, the UAE and the Persian Gulf after ship attacks off Fujairah, in a move that could push up premiums, reported Reuters.

    Middle East | 19 May 2019
  • Saudi Arabia: Local insurers among biggest fallers following tanker attacks

    Saudi stocks suffered their biggest single-day decline since last October on Monday following the tanker attacks off the coast of the UAE, according to media reports. Saudi Arabia's index declined 3.6%. Other Gulf markets were also in the red with Dubai index plunging 2.8% and Abu Dhabi index falling by 2.5%.

    Middle East | 15 May 2019

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