THE JOINT WAR COMMITTEE ISSUES HULL WAR LISTED AREAS, 14 June 2018

Further to our blog in December 2015, the Joint War Committee in London has released the latest War Listed Area – JWLA-023 14 June 2018 – applicable to Hull War, Piracy, Terrorism and Related Perils. The only change has been to delete Jakarta from the Listed Areas, with all other areas remaining the same. Whilst it is customary for underwriters to issue ...

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Cyber Risks – Shipping needs a new Policy wording

We were invited to present to the 5th Asia Marine Insurance Conference in Hong Kong during Hong Kong Maritime Week on Cyber Risks in Shipping. Cyber Risks Presentation to Asia Marine Insurance Conference, November 2017 We took the opportunity to invite the audience of insurers to create a marine cyber product, focused on the shipping market.  We believe operators need a ...

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The “Longchamp” – a judgment with consequences?

General Average is commonly seen in insurance policies and other contracts in shipping industry. English law defines a general average act as any extraordinary sacrifice or expenditure voluntarily and reasonably incurred for the common safety and for the purpose of preserving the property in peril in a common maritime adventure. The York-Antwerp Rules (YAR) lay down the items allowable in a ...

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Key market needs to ‘substantially improve’ efficiency – Our Comments

This article first appeared in Business Insurance. The marine insurance market in Singapore needs to ‘substantially improve its efficiencies to continue writing business at a profit’ as margins are squeezed by the current soft market, according to a prominent broker. Andrew Brooker, founding partner of marine specialist Latitude Brokers, told Insurance Business that the marine market faces a tough challenge ...

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