Anastasis Maraslis
Maritime Piracy, a resurgent business and other threats to Shipping
How the insurance industry handling the arising issues
By Anastasios Maraslis, President/Director of *Marasco Marine Ltd
A black flag showing a skull and crossbones automatically flashes through our minds each time we read or hear the word ‘piracy’ – I suspect that there must be a neurolinguistic programming into our minds since we were in our youth. Whilst reading comics containing stories of pirates , or...
Maria Kouliga
Maria Kouliga re-elected Chairman of HCLBA
On 22nd October 2020, the General Assembly of the Hellenic Committee of Lloyd’s Brokers Associates took place during which General Elections were held to appoint the new Board of Directors and the New Auditing Committee for the coming three year period 2020-2023.
BOARD OF DIRECTORS
1. Chairman – Μaria Kouliga, Trinity Marine Services Ltd.
2. Vice Chairman- Manos Lorentzos, Seascope Hellas
3. General Secretary- Phoevos Bartsiokas, Apostolou &...
https://www.allaboutshipping.co.uk/2020/11/11/maria-kouliga-re-elected-chairman-of-hclba/
S&P affirms UK P&I Club’s A rating – confirms “very strong” capital but changes outlook
On 30th October 2020 ratings agency Standard & Poor’s released a research update on the UK Club and affirmed the Club’s ‘A’ rating. In doing so S&P confirmed the UK Club’s capital as being “very strong” and at the ‘AAA’ level on its capital model. Nevertheless, the agency amended the outlook from stable to negative. S&P reports that, in general, “Protection and indemnity (P&I) clubs are facing a high number...
https://www.allaboutshipping.co.uk/2020/10/30/sp-affirms-uk-pi-clubs-a-rating/
By Jonathan Saul (Reuters) – When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong. Double the manpower is needed to navigate. Lookout shifts are kept to just one hour, so sailors don’t lose concentration and miss a mass of floating ice. Big...
Dave Matcham
IUMI publishes initial findings from its major claims database.
During this year’s annual International Union of Marine Insurance (IUMI) conference, initial findings from IUMI’s major claims database were made available for the first time.
Following three years of development, the database is now sufficiently reliable for IUMI to publish a set of global cargo claims data.
Dave Matcham, Chief Executive, International Underwriting Association; and project leader and secretary to IUMI’s...
Marine underwriting premiums for 2019 saw a reduction of 0.9% year over year and were estimated at $28.7 billion, the International Union of Marine Insurance (IUMI) said. The post Despite modest…
Global marine insurance results indicate a modest recovery but COVID-19 adds uncertainty for the future, IUMI reports.
Today, IUMI – the International Union of Marine Insurance – presented its analysis of the latest marine insurance market trends during its annual conference which this year is being held online. Marine underwriting premiums for 2019 were estimated to be USD 28.7 billion which represents a 0.9% reduction from 2018.
The USD 28.7 billion global income was split between these...
American Club Member Alert (September 14, 2020) Re – Sanctions compliance: The Norm in Shipping VLOG
SEPTEMBER 14, 2020
SANCTIONS COMPLIANCE: THE NEW NORM IN SHIPPING VLOG
Your Managers are pleased to announce the release of a vlog entitled Sanctions Compliance: The New Norm in Shipping.
Recent advisories and pronouncements by the US demonstrate the US government’s commitment to prevent sanctions evasion, smuggling, criminal activity and facilitation of terrorist activities with a focus on Iran,...
Richard Turner, IUMI President
Navigating changing climates: IUMI President, Richard Turner, identifies four key challenges facing marine insurers.
In his keynote address to the International Union of Marine Insurance (IUMI) annual conference, IUMI President, Richard Turner, focused on four areas that are set to exert maximum impact on the marine insurance sector of the future – these were identified as the COVID-19 pandemic, the changing macro-economic and geopolitical situation, climate change...
Lloyd’s: supporting museum initiative.
Insurance leaders combine to raise money for planned Insurance Museum in EC3
By James Brewer
Leading insurance, broking and financial interests have put their weight behind a fund-raising launch for a planned Insurance Museum in the City of London.
They are initially seeking to raise a minimum £3m a year to enable the museum to open its first phase in 2021.
Marine insurance, which emerged on a substantial scale in the 17th century out of dealings at Edward...