Travelers leads $40mn hull war cover for sunk TutorTravelers leads the $40mn hull war cover for Tutor, the vessel believed to have sunk after suffering severe damage from two deadly Houthi strikes, The Insurer can reveal.
Amphitrite secures Sykes to head up cargo division launchSpecialist marine MGA Amphitrite Underwriting London has launched a cargo division with Scott Sykes appointed as its head.
Falvey hires Allianz veteran McClintock as marine cargo SVPFalvey Insurance Group has appointed Brian McClintock as senior vice president, underwriting, marine cargo.
Navium’s Washbourn reveals addiction battles in Sky Sports interviewOne of the marine market’s biggest characters Clive Washbourn has provided candid insight into the personal battles he has faced in a new Sky Sports At the Races interview.
LMA simplifies oil price cap wordingsThe Lloyd’s Market Association has simplified its hull and cargo oil price cap wordings to bring provisions in line with recent regulatory changes by the global Price Cap Coalition.
Lockton Re adds Aon’s Wakefield as senior brokerLockton Re has appointed Andy Wakefield as senior broker in its marine and energy division.
Allianz Commercial and ProMarine sign £10mn DA agreementAllianz Commercial and MGA ProMarine UW have announced a multi-product strategic underwriting and claims delegated authority agreement.
Marine liability rates up 10-15% since Baltimore bridge collapseDirect marine liability rates have increased by 10 to 15 percent since the collapse of Baltimore’s Francis Scott Key Bridge in March, sources told this publication.
Axis hires Navigators duo Boulos and Ryan to head US ocean marineAxis Capital has appointed Paul Boulos and Rob Ryan as heads of ocean marine, with the pair joining from The Hartford’s Navigators unit.
JWC to consider listed area adjustment as piracy concerns growThe Lloyd’s Market Association and International Underwriting Association’s Joint War Committee is set to meet next week to discuss whether an adjustment of piracy-related listed areas in the Indian Ocean is necessary, The Insurer understands.
Red Sea war rates hold post Laax attackMarine war risk rates in the Red Sea and Gulf of Aden remain at similar levels to those seen since March with limited appetite for vessels with links to the UK, US or Israel.
Sentry expands into marine cargo through Falvey partnershipMutual insurer Sentry Insurance has partnered with Falvey Insurance Group to offer admitted and non-admitted cargo capacity to Falvey's broker partners.
Great American partners on APU’s marine cargo programGreat American Insurance Group’s ocean marine division has collaborated with Amwins Program Underwriters (APU) to provide comprehensive coverage solutions through its marine cargo and stock throughput program.
EU mulls sanctions against Russian insurer IngosstrakhThe EU’s executive arm is looking into a member state proposal to sanction Russian insurer Ingosstrakh over its provision of cover for a number of vessels in the growing shadow fleet.
SIAT leads ~$36mn war risk cover for damaged LaaxSIAT is the lead on the ~$36mn hull and war cover for Laax, the vessel struck by Houthi missiles earlier this week, The Insurer can reveal.
Pen’s Vessel Protect hires Lockton Omni’s KentSpecialist war risk underwriter Vessel Protect – part of Pen Underwriting – has appointed Lockton’s James Kent as a senior business development underwriter.
NorthStandard reports 93% 2023/24 combined ratioP&I club NorthStandard has posted a 93 percent combined ratio for the 2023/2024 policy year, a 2 percentage point improvement on the prior year.
PPMI members adopt IMO target for net-zero shipping by 2050Members of the Poseidon Principles for Marine Insurance have unanimously agreed to align with the International Maritime Organization’s revised target to achieve net-zero by 2050.
Consilium launches marine division led by Price Forbes’ NoakesConsilium, the specialty broking business of the Aventum Group, has formed a marine division led by new hire Thomas Noakes as senior partner.
Munich Re Specialty group cargo head O’Dwyer exitsMunich Re Specialty’s group head of cargo Anthony O’Dwyer has exited the business, The Insurer can reveal.