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New data show major losses are increasing, although claims frequency is stable.
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The marine body’s president cites political instability and digitalisation as being among the pressures on the sector.
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P&I clubs violating sanctions will not be able to cede risk to the group’s reinsurance programme.
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The clarification relates to an article published yesterday titled "Wrecked Santa Cruz dive boat insured for only $2mn".
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The Bermuda (re)insurer exits management liability, along with marine hull, power and product recall.
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Norwegian Hull Club is set to make a large payout from the claim. -
If successful, the Fritzler family could avoid paying out more than the remaining value of the hull.
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The mutual’s half-year combined ratio improved by 0.5 points.
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The Monte Carlo Rendez-Vous undoubtedly grabs the bulk of the industry’s attention in September (and will do even more so this year in light of Hurricane Dorian), but for those active in some of the niche areas of the markets we cover, there are events that are far more relevant.
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Marine liability lawyers said the vessel operator may try to invoke the Limitation of Liability Act.
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The hull and war specialist’s role at Brit was put under consultation in May.
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The decision follows the appointment of John Moffatt as active underwriter.
