Latitude 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 ...
Continue ReadingAmerican Club latest to diversify in to H&M
The American P&I Club, managed by the Shipowners Claims Bureau Inc, is the latest P&I Club to diversify into the hull and machinery market. Shipowners Claims Bureau (SCB) have announced the opening of the American Hellenic Hull Insurance Company, based in Cyprus, but underwriting from Piraeus. SCB have joined with the Hellenic Hull Mutual and, subject to regulatory approval, will move their ...
Continue ReadingIt’s our First Anniversary!!
We officially launched on 1st September 2014, one short year ago. Since then, we have: been fortunate to win new business from a dozen different countries around the world; recruited a great team comprising of 14 people in Hong Kong and Beijing; had launch parties; won awards for our branding and received recognition for our community involvement; we have travelled thousands ...
Continue ReadingLatitude receives recognition for our work with Feeding Hong Kong
As many of our clients and partners will be aware, we have been working with Feeding Hong Kong, a local food bank charity, for over a year now. Feeding Hong Kong takes surplus food that would otherwise be thrown away, and redistributes that food to charities feeding people in need all across Hong Kong. The statistics are staggering – over ...
Continue ReadingPress Release: Total Objects Provides Specialist Insurance Software to Latitude Brokers
GLOBAL XB solution creates an infrastructure to allow Latitude to manage clients, premiums, claims, IBA and compliance. LONDON, 04 August 2015- Specialist insurance software provider, Total Objects, has been chosen by Latitude Brokers, the insurance brokers specialising in the shipping, offshore and supply chain industries across Asia, to help create a robust and technologically advanced infrastructure to manage clients, premiums, claims, ...
Continue ReadingIran Sanctions being lifted…but still in place (Updated 3 Sept 15)
Update 3 September 2015: As the US moves towards congressional approval of the deal with Iran, timelines are becoming a little clearer now. Whilst, as at today’s update, the sanctions remain fully in place it appears more likely that the deal will be approved by the US, then the UN and, of course, Iran. At the same time, there appears ...
Continue ReadingThe New Marine Insurance Act 2015 (sadly now just called the Insurance Act 2015)
It’s fair to say that Marine Insurance isn’t well known for its rapid evolutionary pace. The Marine Insurance Act 1906 codified in law the practices at the time, which themselves dated back another 200 years in some parts. ‘Fast’ forward another 110 years and the new Insurance Act 2015 (no longer the Marine Insurance Act) will finally become law in ...
Continue ReadingHong Kong to change Insurance Regulator
Currently, Hong Kong’s Commissioner of Insurance via the Insurance Authority grants approval to both the Hong Kong Confederation of Insurance Brokers (HKCIB) and the Professional Insurance Brokers’ Association (PIBA) to conduct oversight and self-regulation of insurance brokers and agents in Hong Kong. Latitude Brokers is a member of the HKCIB. For some time now, the Insurance Authority has been in consultation ...
Continue ReadingLodestar Increases P&I Limit to USD1bn
Further to our blog in November 2014 about the fixed premium Clubs providing higher limits, Lodestar Marine in London have now obtained reinsurance support to offer the full USD1bn limit. With the increasing competition both within the fixed premium market and to move tonnage placed within the International Group, there is a continuing need to differentiate. The USD1bn limit will allow ...
Continue ReadingLoss of Hire Insurance – is there a better way?
Loss of Hire policies are not as frequently purchased in Asia as in other parts of the world, Scandinavia and Europe for example. The traditional loss of hire policy responds to the net loss of income after a hull and machinery claim. There are a number of deductible and limit options available but a 14 day deductible and a 90 ...
Continue Reading