Tuesday, May 22nd, 2012
Insurance
Tensions Rise
Tensions over armed guards appear to be on the rise amongst the insurance industry. The recent claims at the IUMI conference that the organisation actively
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Insurance Backing
More ship insurers are backing the use of private armed guards on merchant vessels at sea to combat Somali piracy as attacks and the resulting
Critical Issues
Over 100 representatives from the German shipping community attended a seminar entitled ‘Sanctions, Drugs and Guns’ in Hamburg, Germany, which was hosted by North P&I club. Simon Williams, North’s associate director ...
Armed Backing
Insurers are getting behind the idea of armed guards on ships. IUMI President Ole Wikborg has stated that while it took time to realise flag-State consensus on armed guards may work, ...
Piracy Insight
A report by insurers states that piracy is seasonal and increases near the end of the Monsoon season. It also reveals that pirates are attacking more often and further from Somalia ...
Underwriter Response
As the International Union of Marine Insurance prepares for its upcoming annual conference, president Ole Wikborg has spoken out on piracy. Mr Wikborg said the conference will have a significant focus ...
War Risk
The spate of pirate attacks off the coast of West Africa have led to changes in the War Risk excluded areas. Since a number of tankers have been attacked in recent ...
Whitelist Beckons
P&I Clubs are looking to establish a confidential list of "approved shipboard security providers". The Clubs are reportedly inundated with requests from shipowners for guidance in deploying armed guards, and they ...
Carriage Cover
With the use of armed guards onboard ships being more common place, there are real concerns about the potential liabilities associated with their use. Seacurus Ltd has launched a new policy ...
Insurance Costs
Shipowners are paying $120 million a year to insurers to protect vessels against the risk of attack by Somali pirates, the Lloyd’s Market Association said. Insurers paid out “significantly” more to ...« Previous Page — Next Page »