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Marine tag returned 38 results

  • Asia: Marine insurance clients urged to rearrange existing programmes for efficiencies

    Large premium reductions are not expected to be available in the marine insurance market in Asia in 2018, unlike in prior years, according to Aon in its Asia Market Review 2018 released recently. Savings, though, may still be possible for risks which present well.

    Asia | 13 Feb 2018
  • UAE: Mandatory for ship owners to insure crew

    Ship owners operating Emirati and foreign ships in the waters and ports of the UAE will need to get insurance cover for all sailors onboard, the UAE's Federal Authority for Land and Maritime Transport (FTA) has announced.

    Middle East | 06 Feb 2018
  • Shipowners risk losing cover if they fail to comply with new fuel rules, warns Marsh

    The International Maritime Organisation (IMO) plans to reduce the global cap on sulphur emissions from 3.5% to 0.5% by 2020. And shipowners risk losing their insurance covers if they do not modify their vessels in time to meet the stringent requirements.

    AIRPlus | 02 Feb 2018
  • Asia: Piracy and armed robbery against ships increase in 2017

    A regional piracy watchdog has called for heightened vigilance, after it found that the number of piracy and armed robbery incidents against ships in Asia increased by almost a fifth from 2016 to 2017.

    Asia Risk | 24 Jan 2018
  • Indonesia: Marine hull insurance to grow at 10% this year

    The marine hull insurance business in Indonesia is expected to grow by 10% this year in terms of premiums despite the fact that growth was flat last year, according to the General Insurance Association of Indonesia (AAUI). The increase would hinge on whether or not the building and procurement of ships in Indonesia is as planned.

    Asia | 22 Jan 2018
  • Huahai Property's financial losses shrink in 2017

    Huahai Property & Casualty Insurance, touted as China's first specialist marine insurer, has reported losses of CNY23 million for last year, down significantly from total losses of CNY280 million for 2016 and CNY108 million for 2015 which was its first full operating year.

    China | 19 Jan 2018
  • Iran: 2 local insurers to bear 30% of loss of oil tanker

    Iranian insurers are to compensate 30% of the costs of an Iranian oil tanker involved in a collision last Saturday in the East China Sea while the rest would be covered by a Norwegian firm, according to the Central Insurance of Iran (CII) in a statement on its official website.

    Middle East | 10 Jan 2018
  • Shanghai to close tax gap with HK & Singapore in marine insurance

    The Shanghai authorities aim to narrow the tax policy gap between the municipality and Singapore and Hong Kong, in a bid to establish Shanghai as a global marine insurance hub, the head of the Shanghai Insurance Regulatory Bureau, Mr Pei Guang has said.

    China | 01 Dec 2017
  • UAE: Action needed to boost marine insurance business

    More should be done to increase demand for marine insurance, which is considered very important in the UAE because of its role in supporting trade, said Mr Ayman Khamis, General Manager of Sharjah Insurance Company and Chairman of the Marine Insurance Technical Committee of the Emirates Insurance Association (EIA).

    Middle East | 30 Nov 2017
  • Cyber liability and regulatory concerns hinder rollout of unmanned ships

    Global marine industry executives are concerned about cyber liability issues and a lack of clarity about regulations and insurance when it comes to unmanned ships, according to a new report from global law firm Clyde & Co and the UK-headquartered Institute of Marine Engineering, Science & Technology (IMarEST).

    Asia Risk | 29 Nov 2017

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