Latitude Brokers

Claims Alert – Fraudulent Bank Accounts (updated again 22 April 2016)

UPDATE 22 APRIL 2016 Further to our advices below, we have received another alert from the International Transport Intermediaries Club (ITIC), a specialist professional indemnity insurer for the transport industry, which shows that the fraudsters continue to find different and elaborate ways to deceive clients in the marine industry. The full circular is available here, but the ITIC specifically advise: ...

Social 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 ...

Iran 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 ...

Good news for shipowners as IG reinsurance rates down.

A combination of 4 years’ profits for International Group reinsurers, increased market capacity, increased risk retention by the Group’s captive, Hydra, and the use of a third multi-year fixed placement has enabled the Group to negotiate a successful renewal of the General Excess of Loss programme and the excess War P&I cover, resulting in rate reductions for shipowners and charterers ...

The Joint War Committee amends the War Listed Areas

Prompted by the recent reduction in the Indian Ocean High Risk Area defined by BIMCO and referred to in BMP4, the Lloyds Joint War Committee have announced a change in the War Listed Areas on 10th December 2015. The Indian Ocean / Arabian Sea / Gulf of Aden / Gulf of Oman / Southern Red Sea area is reduced on ...

Swedish Club 2016 General Increase announced

The Swedish Club has announced a nil General Increase for the 2016 policy year for both P&I and FD&D classes with any changes in the GXL Reinsurance programme being passed on to Members. Deductibles will be increased by USD1000 for cargo and crew liabilities. Release calls have not been updated yet. The full circular can be found here or on ...

Latitude completes Sailors’ Society 32 kms trek in gruesome weather conditions

Saturday 5th December: It was a blustery day when the Latitude team assembled at dawn with 34 other teams, for a 32 kms journey along the Hong Kong trail to raise money to support the Sailors’ Society. After 3 months of training in the heat, and under blue skies, the conditions were a shocker ! But Latitude support team had been ...

Latitude goes Jamming with Feeding Hong Kong for Christmas

As part of the festive season, we helped Feeding Hong Kong make 2000 jars of jam to be given out to low-income families in December. The sacks contain a number of homemade items and each jar is personalized by the volunteers! Our own Kay Chan said “I am very glad to be one of the volunteers participating in the jam making session ...

Skuld 2016/7 Renewal Update announced

Skuld will continue to underwrite their 2016/7 policy renewals based on individual Member’s records rather than announcing a General Increase, so their announcement is different to other IG Clubs. They will pass on any changes in the IG GXL Reinsurance costs to Members when they are finalized. However, Skuld have announced their mutual Members will receive a guaranteed premium credit equivalent ...

Latitude Brokers in Sailors’ Society epic 35km hike across Hong Kong on 5th December 2015

BIG thanks to all our Corporate Sponsors who are now emblazoned across our shirts!!! Nepa, Waltons & Morse, India International Insurance, Ironshore, Thomas Miller, Skuld, TT Club, Affinity Shipping LLP, UK P&I Club, RPC, SART and Charterers Club…you’ve put us well on our way to our target of HKD125,000 (around GBP10,000)!! All the Founding Partners will be hiking on 5th December, with ...