Insured, Liability Insurance and Marine - Insurance Industry Brief

Markets/Coverages: Sompo Launches Marine Insurance Proposition for UK Market

Insurance Journal

SEPTEMBER 25, 2024

Sompo, the Bermuda-based provider of commercial and consumer property/casualty insurance and reinsurance, announced the launch of a new national marine insurance proposition for the United Kingdom. Sompo’s Marine Cargo UK policy and its Transport & Logistics propositions are both designed …

Marine

Marine Casualty Insurance Commercial Insured

North Sea Ship Collision Could Cost Insurers Up to $100M, Hitting Marine Line’s Profits

Insurance Journal

MARCH 13, 2025

The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …

Marine

Marine Insurance Policy Insured Insurance

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Insurance Journal

JANUARY 24, 2025

January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic fragmentation.” ” Geoeconomics refers to the intersection of geopolitical forces and economic policies.

Insured

Insured Insurance Insurer Policy

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Insurance Journal

SEPTEMBER 17, 2024

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

Risk

Risk Claim Marine Insured

Insurance Considerations When Expanding Your Business to a New Location

Mark Jackson Insurance Agency

MARCH 19, 2025

From property protection to liability coverage, ensuring your business insurance policies align with your expansion is critical. Heres what to consider from an insurance and risk management perspective when opening a new location. Workers Compensation Insurance to cover employee injuries on the job.

Workers Compensation

Workers Compensation Liability Inland Marine Insurance Property Damage

Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Insurance Journal

JULY 23, 2024

Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian …

Risk

Risk Insured Insurance Insurer

Yacht Insurer OMAC Is Hull Carrier for Sunken Yacht in Sicily, Sources Say

Insurance Journal

AUGUST 21, 2024

Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-meter-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter …

Insured

Insured Insurance Insurer Protection

Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

Insurance Journal

AUGUST 30, 2024

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. The British-flagged 56-meter-long (184-foot-long) yacht, …

Insured

Insured Insurance Insurer Protection

How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore

Insurance Journal

AUGUST 5, 2024

A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels previously shipped Iranian oil, potentially complicating payments due to Western sanctions, ship-trackers and industry sources say. What Happened? The Singapore-flagged Hafnia …

Insurance Claim

Insurance Claim Claim Insured Insurance

Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

Distinguished

MARCH 20, 2025

From devastating floods to slip-and-fall lawsuits, insuring apartment buildings is no simple task. And with rising property values, more frequent catastrophic weather events, and emerging risks like habitability claims, its never been more critical to help your clients navigate their insurance options.

Building

Building Protection Damage Liability

Sweden Seizes Ship Suspected of Sabotage in Baltic Sea

Insurance Journal

JANUARY 27, 2025

Sweden detained a vessel suspected of damaging a subsea data cable connecting it with Latvia, the third such incident in the Baltic Sea in the past three months. The Security Service said it’s conducting a preliminary investigation into the crime …

Crime

Crime Damage Protection Liability Insurance

Small Plastic Pellets Wash Up on UK Shores After Ship Explosions

Insurance Journal

MARCH 18, 2025

Small plastic pellets washed up on the east coast of the UK, a week after two ships collided in the country’s waters. Nurdles, which are used to make plastic products and are usually just a few millimeters in size, were …

Markets/Coverages: Sompo Launches Marine Insurance Proposition for UK Market

North Sea Ship Collision Could Cost Insurers Up to $100M, Hitting Marine Line’s Profits

Trending Sources

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Insurance Considerations When Expanding Your Business to a New Location

Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Yacht Insurer OMAC Is Hull Carrier for Sunken Yacht in Sicily, Sources Say

Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore

Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

Sweden Seizes Ship Suspected of Sabotage in Baltic Sea

Small Plastic Pellets Wash Up on UK Shores After Ship Explosions

SC Party Boat Shooting Victim Lawyer Says No One Checked IDs or For Weapons

What are the most important questions to ask when choosing business insurance?

Fires Spotted on Red Sea Tanker Drifting With Oil on Board

Russia’s Oil Tanker Firm Sovcomflot Says G-7 Sanctions Make Oil Trade Less Safe

Builder’s Risk Insurance in Tennessee: A Broker’s Guide

EU Mission in Red Sea Says no Oil Spill From Tanker Damaged in Houthi Attack

Houthis Say Tugs Can Tow Away Stricken Oil Tanker Attacked in Red Sea

Salvage of Stricken Oil Tanker in Red Sea Expected in Coming Days, Sources Say

Houthi-Hit Oil Tanker in Red Sea Appears to Be Leaking: Pentagon

Fires Burn on Houthi-Hit Oil Tanker but No Spill Yet, EU Says

Update: Two Oil Tankers on Fire in Waters Near Singapore, Crew Members Rescued

Builder’s Risk Insurance in Alabama: A Broker’s Guide

London-Based Ship Registry Helps Russia Oil Tankers Keep Running

Finland Power Grid Operator Asks Court to Seize Oil Tanker Over Cable Damage

Captain of Sunken Superyacht Placed Under Investigation, Source Says

Explosive-Packed Drone Boat Slams Into Oil Tanker in Red Sea

Toxic Waste Bound for Thailand on Maersk, MSC Cargo Vessels to Return to Europe

EU Navy Starts Towing Stricken Red Sea Oil Tanker Hit by Houthis

Britain Targets Russian LNG Sector With Fresh Shipping Sanctions

Dark Fleet Oil Tanker Caught in Recent Collision Heads to China

Burning Houthi-Hit Oil Tanker Set for Fresh Rescue Effort

Captain of Sunken Superyacht Declines to Answer Prosecutors’ Questions, Lawyer Says

Fire-Hit Tanker Enters Malaysia Terminal Area After Being Detained by Coast Guard

Baltic Sea Cable Cuts Can’t Be Accident, EU Tech Chief Says

Finland Finds Anchor Drag Marks Left by Tanker That Broke Cables

Finland and Lithuania Report Severed Undersea Data Cables

Owner Seeks Release of Oil Tanker Seized in Finland Cable Probe

Dark Fleet Caper Exposes Growing Risks in Crowded Malacca Strait

Toxic Waste That Set Off Global Outcry Seized by Albania’s Prosecutors

Sweden Probe Into Broken Cable Advances as Seabed Study Winds Up

Oil Tanker Linked to Subsea Cable Damage Has Serious Deficiencies, Finland Says

Finland’s Elisa Says Baltic Undersea Cables Were Torn Apart by External Force

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