London P&I Club posts operating surplus
The London P&I Club, a leading maritime protection and indemnity (P&I) insurer, posted an operating surplus of $36.3 million, bolstering its free reserves to $149.8…
Insurance
New project cargo insurance consortium launched
RSA Insurance’s UK Specialty Lines business and Brit have launched a project cargo consortium, named BUILD. According to the two insurance companies, it is one…
Marine insurers concerned about their own future
The international trade association of marine insurers, IUMI, has expressed concern about whether insurers will be able to keep their heads above water in the…
Insurance firm warns of scrubber corrosion problems
Norwegian P&I club Gard reports of several cases in which scrubbers have caught fire or corroded within a year. The insurance company is warning shipping…
BIMCO creates first standardized decommissioning contract
PRESS RELEASE – BIMCO’s new Dismantlecon contract is the first global standard contract designed for the dismantling and removal of offshore structures in the energy…