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CHARTERERS & LIABILITY How are charterers exposed to liabilities and how can they benefit from a charterer’s liability insurance? Once having agreed a contract, whereby a ship is made available, the identity of that party is as a CHARTERER. Liabilities may vary but cannot be eliminated or ignored. A voyage
We must follow strict compliance and sanction screening processes for all transactions to avoid financial risks. Violating these rules could lead to regulators freezing our bank accounts, endangering the company’s existence.
The Dutch VOC (Verenigde Oost-Indische Compagnie) The Dutch VOC (Verenigde Oost-Indische Compagnie) was founded in 1602 with the main objective of promoting trade between the Netherlands and Asia. The VOC played a crucial role in the rise of the Netherlands as a maritime and economic powerhouse in the 17th and
LEGAL & CLAIMS AS A SERVICE Expertise in claims handling is integral to marine liability insurance. In most cases, insurers offer legal costs insurance, also known as FD&D insurance, or Marine Defense. In both cases, clients rely on insurers and their Claims Handlers to actively engage in resolving claims and disputes.
Underwriting insurance risks requires deep technical knowledge. On the one hand, the underwriter must have a profound knowledge of the policy terms, conditions, and other matters to ensure the technical integrity of the insurance business. On the other hand, the underwriter needs to understand the clients’ business to accurately assess risks. Additionally, a strong understanding of
On February 20th, 90% of the world fleet for marine liability insurance, known as P&I, was renewed by the International Group of P&I Clubs with a new 12-month P&I policy. The 12 P&I clubs that are part of the International Group generate a premium size of about USD 3.5 billion.
In addition to our circular dated 27th December 2022, please be informed of the following. As provided and issued, our Certificate of Insurance and Insurance Policy Wording, include a War Risks cover as per Module VII which expressly excludes the Russia-Ukraine conflict. This remains to be excluded. In conformity with
The Netherlands as a powerhouse in the maritime world. I am often asked why I am still doing this. When this question touches upon my age, I respond: “Warren Buffett is 93, so I have quite a future ahead of me!” Being from Rotterdam, the connection to the maritime world came
In the Red Sea, Yemen’s Houthi rebels are stirring up trouble, creating safety and insurance complexities. Our article breaks down the challenges, risks and insurance covers involved. The Red Sea situation Yemen’s Houthi rebels are carrying out attacks against vessels sailing through the Red Sea. With missile and drone strikes
The marine insurance industry is full of unexpected risks. Capital-intensive vessels traverse the globe and Billions of goods are transported, all relying on specialists available 24/7 to navigate unexpected challenges. The marine insurance industry needs to offer a helping hand with specialists that are as often available as the ships
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