The Insurer – Page 3
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NewsThe Insurer
September opened a new chapter in the growing book of potential liabilities for port and terminal operators.
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Share with your insurer
Insurers are telling their clients that they need a "pricing correction", in other words dearer rates, at the very time that businesses such as port operators are under huge financial pressure. So is it possible to reconcile these conflicting interests? Indeed it is, according to the major risk carriers.
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The Insurer
Lloyd''s is known for insuring the high profile risks - commercial property, the impact of hurricanes and other disasters, terrorism, and piracy, to name a few - as well as esoteric assets such as the body parts of celebrities and the noses of wine-tasters. What is less publicised is its ...
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NewsThe Insurer
Ports challenged by shrinking trade volumes are being tempted to go for a new money-spinner: providing berths for laid-up ships. That is less of a cake-walk than you might imagine, and for that you can blame or thank the insurance market.
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The Insurer
Executives at ports in the Asia/Pacific region will shortly be turning their attention to an annual financial exercise which should be considerably more straightforward than the complexities occasioned by the downturn in trade volumes.
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The Insurer
So much upheaval is rocking the world economy that ports executives are well advised to train their eyes on the insurance sector as well as on the financial and maritime news.
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theinsurer
There are a lot of them about - insurance carriers for the ports and terminals industry. New entrants continue to plunge into the fray, all of them with powerful sales messages based on the origins of their personnel or status of their parent companies in international markets.
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The Insurer
By now, the best run ports and terminals in the world will know who they are. They have been courted with, and in, endearing terms by underwriters who cast longing eyes at the facilities with the most enviable records for staying free of large scale claims.
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NewsThe Insurer
That might be the motto for port and terminal operators as they and their brokers attempt to navigate the aftershocks of the capital markets crisis. Marine insurers are feeling the pinch in any case from their own portfolios, and remain wary of being buffeted by ripples from elsewhere in the ...
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The Insurer
How safe is your insurance cover amid the draining of trillions of dollars from world financial markets, and downgrades for some key players? It seems that the operators of ports and terminals may be somewhat more secure in this respect than others who customarily buy corporate insurance programmes.
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NewsTheinsurer James Brewer
Whatever happened in recent weeks at the Georgian port of Poti, it gave everyone in the formerly economically buzzing facility quite a fright. Russian troops swept into the Black Sea town to destroy military installations and loot port authority buildings, according to the Georgian officials, and US diplomats alleged a ...
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The Insurer September
Winning and losing are words that are best avoided in the nuanced world of ports and terminals insurance.
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NewsThe Insurer
Throughout the insurance market, premium rates are falling. While the scaleback is less than alarming to insurers, and is only moderately comforting to the customers, the trend seems unstoppable for the moment. Overcapacity in insurance supply, which built up in the firm market of the last five years, has at ...
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NewsInsurance comment
Underwriters and brokers are beginning to express concern about the potential for rising damage liability claims at ports and terminals, as a result of fundamental problems coming to light in the operation and design of the containership fleet.
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The insurer
A particularly tricky operation at a port - we had better withhold its identity - was beginning to get a reputation as akin to a ride on the wall of death. Drivers of straddle carriers were required to negotiate a ramp and manoeuvre into a 90 degree turn. They tended ...
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NewsInsurance Opinion
Few purchases ever get much cheaper, but one which does on a cyclical basis is the price of insurance. Ports and terminals operators can expect reductions in 2008 on their property and liability premiums, even in many areas prone to hurricanes and other natural disasters.
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Australian delays turn spotlight on marine risk
In the news of late has been the congestion at Australian loadports like Newcastle where higher demand and seasonal disruption have produced queues of ships waiting to load. Delay as a risk to be insured is little known in the annals of marine and transport insurance, with certain exceptions.
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The not-so-simple port alternative
So you want to be a ship-to-ship stevedore? Where do you start? What do you need for kit? Any suggestions on risk management?
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NewsCostly Hong Kong
There has been much speculation on the highly unusual activity of a group of business and academic persons who, under C C Tung as convener, have been charged with making Hong Kong more competitive in the marine and logistics fields. The idea is to combine this work with that of ...
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NewsFighting the Last War
It is said that generals have a strong tendency to prepare for the war they last took part in. And marine underwriters are not so different in this respect. The last financially traumatic event tends to influence the current approach they take to risk. Post September 11, renewed attention was ...
