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 ...

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American 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 ...

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Charterer’s Default Insurance (Updated)

Since the financial crisis of 2008, counter-party risk has changed dramatically.  That has, thankfully, resulted in shorter charter chains,  a move to better counter-party risk management and a continued move towards charterers with a strong track record. That said, the shipping market continues to have an excess of capacity, particularly in dry bulk, with rates remaining low.  Container rates remain ...

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Off-Spec Bunkers remain a major issue

The International Bunker Industry Association has recently announced their intentions to tackle the issue of off-spec bunkers through collaboration with owners, operators and suppliers. Whilst the figures appear to be improving, as 8% of bunkers tested in Q1 2015 have been found to be off-spec, down from 10% in the same period 2014, those figures remain high and cause substantial ...

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Skuld P&I Club announces 2015 ‘Premium Structure’

As in recent years, Skuld’s position with regard to General Increases is unique within the IG in that they believe in adjusting each Member’s base premium upon a number of factors rather than a General Increase which is then adjusted for record.  Those factors are as follows: i.     statistical records taking into account claim costs, types of claim, claims trends as ...

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