Maritime insurance

Op-Ed: Maritime insurance adapts to rising cyber threats

By Ed McNamara, CEO at Armada Risk Partners

Increasingly complex and sophisticated cyberattacks on the maritime industry are soaring at unprecedented levels.

There have been numerous successful cyberattacks and ransomware incidents targeting ports, airports and shipping.

The cyber threat landscape is increasingly dangerous as ports have become critical digital and physical hubs for global commerce. With this rise in sophisticated cyberattacks, vulnerabilities within port infrastructure, logistics...

https://www.marinelog.com/news/op-ed-maritime-insurance-adapts-to-rising-cyber-threats/

Op-Ed: Is the future autonomous shipping?

By Susan Riitala and Thor Maalouf

Autonomous ships hold immense potential to transform and enhance the efficiency of global supply chains by streamlining operations and reducing human error. Their ability to operate continuously and integrate with other automated systems offers a new level of precision and reliability in the movement of goods. Additionally, their ability to adjust routes dynamically based on real-time data, such as weather patterns or port congestion, can lead to smoother, more...

https://www.marinelog.com/views/op-ed-is-the-future-autonomous-shipping/

Maritime Insurance Premium, Claims Norms To Change On Energy Transition

According to numerous executives involved in the process, parameters and criteria for providing maritime insurance will alter in the years to come as the shipping industry advances toward decarbonization and as legislation on cutting emissions become required.

Assessing insurance premium 

They point out that the Protection and Indemnity, or P&I, is a multibillion-dollar insurance cover, which includes, among others, pollution and crew.

What are under current maritime law, normal carbon emissions,...

https://mfame.guru/maritime-insurance-premium-claims-norms-to-change-on-energy-transition/

IRDAI Is Developing A P&I Club To Help Improve Maritime Insurance In India

The Insurance Regulatory and Development Authority of India (IRDAI) is in talks with Indian National Shipowners Association (INSA) to develop a protection and indemnity insurance club (P&I club) in India, a move that will support the development of a marine insurance market in India, said insurance sector players at a Maritime India Summit, reports The Hindu Business Line.

What is P&I club?

Marine premium formed about 2 per cent of the gross domestic premium in FY20. India has been looking to put...

https://mfame.guru/irdai-is-developing-a-pi-club-to-help-improve-maritime-insurance-in-india/

Marine Insurers Scrutinize The Complex Container Loss Clauses

According to an article published in the Insurance Business Magazine, Container volumes have been growing at pace and, in turn, placing a strain on the operational procedures of ships.

With increased risk, comes a potential jump in casualties – prompting two insurers to team up to spread an important message.

Significant Container Loss

Thomas Miller mutual companies, freight specialist TT Club and P&I insurer UK P&I Club, teamed up for a recent webinar entitled ‘Container Casualties – the sum of...

https://mfame.guru/marine-insurers-scrutinize-the-complex-container-loss-clauses/

International Union of Marine Insurance Concerned About Coronavirus Negativity

  • International Union of Marine Insurance, IUMI is concerned about the impact of coronavirus on shipping.
  • they fear that 2020 positivity is turning into negativity with tanker rates falling
  • but now the forum’s primary concern is containership fires which rose to an unprecedented number last year
  • while liners are imposing fines and attacking misdeclared cargoes.
  • we need to pay more attention to fire detection and simultaneously attack misdeclaeed cargoes, says IUMI.

In a major development, the...

http://mfame.guru/international-union-of-marine-insurance-concerned-about-coronavirus-negativity/

Hapag-Lloyd Launches an User Friendly Insurance

  • Hapag-Lloyd is expanding its digital product portfolio.
  • The company is now offering its customers an online marine insurance, available on the Hapag-Lloyd website.
  • Customers of “Quick Cargo Insurance” benefit from a particularly user-friendly, digital service offering.

Global linear company Hapag-Lloyd has expanded its digital product portfolio by offering its customers an online marine insurance, reads a press release by the company.

Quick Cargo Insurance

“Quick Cargo Insurance” provides...

http://mfame.guru/hapag-lloyd-launches-an-user-friendly-insurance/