IUMI

Watch: An overview of IUMI work for shipping industry

The short video, published by the International Union of Marine Insurance, provides an overview of the Union’s work since 1874 when international trade was growing and new markets were emerging. Operating at the forefront of marine risk, IUMI gives a unified voice to the market, tackling industry issues and challenges through effective representation and lobbying activities.

Headquartered in Hamburg and with a recently launched hub in Hong Kong, the range of IUMI activity covers key areas of...

https://safety4sea.com/watch-an-overview-of-iumi-work-for-shipping-industry/

Signs of Global Action on the Horizon to Stem Fishing Deaths and Injuries

Jeremy Prain

Despite the estimated 24 million injuries and 24 000 mortalities every year on commercial fishing vessels worldwide, the fishing industry remains almost entirely unregulated and continues to be one of the most dangerous occupations in the world. Yet there are glimmers of hope that global action on fishing vessel safety is on the horizon, says marine law expert Jeremy Prain.

“While early attempts at an international convention on fishing safety foundered, the International Maritime Organization...

http://www.sashippingnews.com/2018/10/11/signs-of-global-action-on-the-horizon-to-stem-fishing-deaths-and-injuries/

Boxship Blazes to be Contained

Capt. Nicholas Sloane

At the recent International Union of Marine Insurance (IUMI) Conference, which is one of the biggest gatherings of marine underwriters, new measures for combatting fire safety were presented.  Boxship fires, in particular, pose a huge problem and occur far too frequently and, IUMI has called for container operators to install firebreaks and sprinkler systems on all ships to help protect the lives of seamen and reduce the financial costs to insurers.  The problem is whether the operators will...

http://www.sashippingnews.com/2018/10/08/boxship-blazes-to-be-contained/

Naval Dome calls insurers to revoke ‘Clause CL 380’ affecting cyber cover

On the sidelines of the International Union of Marine Insurance’s (IUMI) annual conference in late September, cyber security firm Naval Dome called on marine insurers to revoke the controversial ‘Clause CL 380’ and implement policies that insure against the risk of cyber-attacks on ship systems.

Namely, the Clause in contention reads:

Subject only to clause 1.2 below, in no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or...

https://safety4sea.com/naval-dome-calls-insurers-to-revoke-clause-cl-380-affecting-cyber-cover/

IUMI: Outlook for marine cargo insurance remain challenging

Sean Dalton, the International Union of Marine Insurance (IUMI) Cargo Committee Chair, reported that the marine cargo market is still the largest commercial marine line of business in terms of premium income. However, 2017 was the worst year for natural catastrophe losses in the history of the insurance industry.

IUMI’s 2017 statistics indicated global cargo premiums amounting to US$16.1 billion. Worldwide, the cargo line has been unprofitable for several years with rising loss ratios and...

https://safety4sea.com/iumi-outlook-for-marine-cargo-insurance-remain-challenging/

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