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Marine tag returned 170 results

  • Australia: Marine cargo premium rates forecast to rise in next 12-24 months

    Marine cargo premiums are expected to increase the next 12-24 months by 5%-10% and eventually plateau, says Aon, a global professional services firm that provides a wide range of risk, reinsurance, retirement, and health solutions.

    Asia | 07 May 2021
  • Shipping: Suez Canal Authority could claim US$1bn for losses arising from Ever Given blockage

    Egypt could be lining up a $1bn claim in damages after the 20,388-teu Ever Given giant container vessel caused a blockage in the Suez Canal for six days from 23 to 29 March, reported Bloomberg.

    Middle East | 04 Apr 2021
  • Shipping: Ever Given losses could amount to US$200-250m, per Oakeshott Insurance

    The insured losses from the six-day blockage of the Suez Canal may total between $200m and $250m, distributed among cargo insurers, P&I and, possibly, the insurers of the Suez Canal Authority (SCA), says Mr George Grishin, managing director of Oakeshott Insurance, a Lloyd's insurance and reinsurance brokerage.

    Asia | 02 Apr 2021
  • Shipping: Lloyd's sees 'US$100m or more' loss due to Suez Canal blockage

    The blockage of the Suez Canal for nearly a week will result in a "large loss" for Lloyd's of London, its chairman has said, according to a Reuters report. He added that the loss for Lloyd's could be around $100m or more.

    Middle East | 01 Apr 2021
  • Shipping: Suez Canal reopens after refloating of stranded containership

    Shipping has resumed in Egypt's Suez Canal after a stranded giant container ship blocking it since 23 March was finally freed by salvage crews. Multiple insurance claims are expected to be filed hereafter with stakeholders including the shipowner, the charterer, the Suez Canal Authority, shippers, cargo owners, P&I clubs, insurers and reinsurers.

    Middle East | 31 Mar 2021
  • Reinsurance: Suez Canal blockage a huge loss event for global reinsurers

    The blocking of the Suez Canal and the resulting disruption to global shipping is likely to cause a large loss event for the reinsurance industry, Fitch Ratings says.

    Asia | 30 Mar 2021
  • The insurance impact of Ever Given's Suez Canal blockage

    The grounding of an ultra large container ship - the Ever Given - in the Suez Canal brought traffic on the central shipping route between Europe and Asia to a standstill, with the potential to create more than $40bn dollars of trade disruption.

    Agents | 29 Mar 2021
  • Suez Canal blockage highlights supply chain disruption risk

    The grounding of an ultra large container ship - the Ever Given - in the Suez Canal brought traffic on the central shipping route between Europe and Asia to a standstill, with the potential to create more than $40bn dollars of trade disruption.

    Asia | 29 Mar 2021
  • Suez: Insurers may lose millions in claims -- Reuters

    The giant containership wedged in the Suez Canal could result in millions of dollars in insurance claims against the vessel's owners, according to industry sources who spoke to Reuters.

    Middle East | 28 Mar 2021
  • India to set up a P&I insurance club

    The Insurance Regulatory and Development Authority of India (IRDAI) and Indian National Shipowners Association are in talks to develop a protection and indemnity insurance club (P&I club) in India according to a report in the financial daily Business Line. A P&I club is a mutual insurance association that enables risk pooling among members and provides information and representation for its members.

    AIRPlus | 04 Mar 2021


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