UK Club has said that its financial position remained strong, with free reserves increasing by $54m to $559m as at February 20th 2020. The Club said that this was driven by an exceptional investment return of 9.6% for the year. The Club benefited from reasonably good large claims experience for the...
The Australian federal government has refused to extend its live export ban so that 56,000 sheep currently stranded shoreside in a feedlot in Fremantle, Western Australia. Livestock carrier Al Kuwait (IMO 9590931) docked in Fremantle on May 22nd. The vessel had been due to transport the sheep but...
Norway’s Equinor ASA and Anglo-French firm Perenco are two of at least five oil producers that have registered coronavirus cases among employees or contractors at facilities off the coast of Brazil, reports Reuters, citing industry and regulatory sources. Royal Dutch Shell PLC and Brazil’s Enauta...
Holland America Line has released an update on its repatriation plan to get crew members back to their homes. Holland America said that, due to country closures, port closure and travel restrictions the process has evolved into a challenging and complex programme. It said that all non-working...
Magne Nilssen will become the Managing Director of Gard (UK) Ltd from July 1st 2020, Gard announced yesterday, June 3rd. He will take over from Thomas Nordberg who is returning to Norway to take up a new position as Head of Claims Services, reporting to the Chief Claims Officer. Gard CEO Rolf Thore...
https://insurancemarinenews.com/insurance-marine-news/magne-nilssen-named-new-md-of-gard-uk-ltd/
Steamship Mutual has reported a “strong underwriting performance” for policy year 2019.20, reflected in a combined ratio of 99.8%, down from 116.1% the previous year. Steamship said that several factors contributed to the improved performance, including fewer and lower value large claims, three of...
Active Underwriter – J Moffatt The Lloyd’s syndicates have now published their results and, in some cases, added detail and an outlook for 2020. As in the past two years, IMN is summarizing the results from all syndicates that have a marine interest which have provided some information on the...
https://insurancemarinenews.com/insurance-marine-news/syndicate-results-2019-36-syndicate-1200-argo/
The Panamanian Maritime Authority has warned that it could impose sanctions on vessels if they deliberately deactivate, tamper or alter the operation of their AIS tracking transponders. The potential penalties include fines of up to $10,000 and the withdrawal of the Panamanian flag from the ship....
The Master of containership APL England (IMO 9218650) has appeared before a Queensland magistrates court to face two charges relating to an incident where the containership spilled about 50 containers into the sea off New South Wales, Australia on May 24th. The charges were under Section 26F of the...
In its recent publication of Sea Venture (issue 32), Steamship Mutual has put together a useful and comprehensive set of Frequently Asked Questions on Covid-19. They include: Does the present COVID-19 pandemic of itself prejudice Club cover? The short answer is “no”. However, Clubs do require that...
https://insurancemarinenews.com/insurance-marine-news/covid-19-frequently-asked-questions/