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 ...
Continue ReadingInsurance impact of South China Sea ruling
This article can be found here and originally appeared in Insurance Business on 14 July 2016 The decision by an international tribunal to rule against Chinese claims to rights in the South China Sea should have a limited impact on the insurance market, a marine specialist has said. The Permanent Court of Arbitration, based in The Hague, ruled that there ...
Continue ReadingOil and shipping markets on edge after South China Sea ruling – Our Comments
Full story from Reuters can be found here or at www.reuters.com “Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing’s claims across large swathes of the South China Sea, fuelling geopolitical tensions in the vital waterway. A tribunal in The Hague, Netherlands, found China had breached the sovereign rights of the Philippines ...
Continue ReadingSocial Media use in a crisis
As we all know, social media in its various forms is a powerful tool of communication used in the shipping industry to raise awareness on ongoing industry issues, create action groups and, of course, for PR (we certainly use it for all three). However, as the Norwegian Hull Club (NHC) have helpfully pointed out in their below ‘alert’ – there ...
Continue ReadingIran Sanctions lifted on 16 January 2016 aka Implementation Day (updated)
Further to the Joint Comprehensive Plan of Action (“JCPOA”) agreed on 14th July 2015, the EU and the United States agreed on 16th January 2016 to partially lift the nuclear-related sanctions against Iran. Whilst operators are certainly eager to engage in commercial activities with Iran, the 2nd largest economy in the region, it is critical first to review the extend ...
Continue ReadingClaims Alert – Valuations, Fair Market Values and Disclosure
We are grateful to Waltons & Morse for their recent briefing in respect of a claim made by an Assured for the total loss of a superyacht that was over-valued in a hull policy. The facts are as detailed in the briefing, but we are concentrating on two main aspects: the Assured over-valued the yacht in question; and did not disclose ...
Continue ReadingSingapore Insurance market – recent moves
As we “predicted” in our earlier blog, the ongoing consolidation would give rise to further changes and create opportunities for new leaders to emerge as well as new entrants to the Asian market continuing to focus on Singapore as their base. At the Lloyd’s new office opening party in Singapore recently, there were over 300 underwriters and brokers, many of ...
Continue ReadingIn the Press, Tradewinds 16th October 2015
Tradewinds article on our MBO announcement and the opportunities this provides us with for the future. Tradewinds 16 Oct 2015 Media contact: Andrew Brooker
Continue ReadingIndian Ocean Piracy High Risk Area reduced from 1 December 2015
BIMCO has announced a reduction in the Piracy High Risk Area for transiting the Indian Ocean effective from 1st December 2015, per the below map. BMP4 (the latest advisory on anti-piracy measures) will now only be applicable when a vessel enters the reduced area, which is defined by the following boundaries: In the Red Sea: Latitude 15oN In the Gulf of ...
Continue ReadingLatitude speaking on panels at 3rd Asia Marine Insurance Conference, 12-13 October
We are pleased to be involved with the 3rd Asia Marine Insurance Conference, being held on 12/13 October at the Excelsior Hotel in Hong Kong. Some of the industry’s most senior underwriters will be there offering their views on the industry. Charles D’Alton will be on the P&I panel and Andrew Brooker will be on both the Owner’s panel and ...
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