Marine
US targets insurers of Iran deals
Companies that insure trade with Iran would be cut off from the US financial system under legislation aimed to further target Tehran's nuclear programme.
McNamee takes Chartis commercial role
Chartis has named Jacqueline McNamee as executive director, commercial lines UK, heading up the property, casualty, financial and speciality lines businesses, including aviation and marine.
LMG extends electronic approach
The London Market Group has extended its electronic endorsements initiative to all classes of business. Brokers can send all endorsements in every class electronically, and insurers will be able to respond to them.
Swiss Re targets European marine with two new teams
Swiss Re Corporate Solutions has expanded its marine insurance footprint in Continental Europe through the formation of two dedicated underwriting teams in Zurich and Genoa, which will be led by Patrizia Kern-Ferretti and Andrea Cupido, respectively.
India considers guarantees for Iranian oil
India's shipping secretary K Mohandas said on Tuesday that the country is considering sovereign guarantees for shipping and buying Iranian oil on a delivered basis, when EU sanctions on Iran come in to effect, according to Reuters India.
Japan questions EU over impact of Iran sanctions
Japan's government is seeking clarification from the European Union about the implications of its sanctions against Iran for non-EU states, amid fears Japanese ship owners could see cover for voyages to Iran slashed.
Top 10 news stories
Find out what the market has been reading about this week with the top 10 news stories from www.insuranceinsight.eu
Japan's P&I club cuts cover for ships in Iran
Japan's P&I Club has confirmed it will only be able to provide a fraction of insurance coverage to tankers that transport Iranian oil under the new European Union sanctions.
Q&A Asia: with Lloyd's Asia's Kent Chaplin
Kent Chaplin, head of Asia Pacific and managing director of Lloyd's Asia, spoke to Francesca Nyman about the market's presence in Asia, its relationship with brokers and its plans for the future.
Lancashire reveals $35m exposure to Costa Concordia
Lancashire Holdings has revealed, based on an industry loss of $850m, its exposure to the January Costa Concordia cruise ship loss is estimated to be approximately $35m net of reinsurance and reinstatement premiums.
Indian shipping firms may look to China for insurance
Indian shipping companies may turn to China in their struggle to find replacement insurance coverage when EU sanctions on Iranian oil come into force.
CNA apppoints John Taylor as chief underwriting officer
CNA Insurance has appointed John Taylor to the newly created role of chief underwriting officer, with immediate effect.
View from the Top: Maritime trade, empires and insurance in Holland and the UK
The 17th century saw the Dutch and the English competing for control over the seas and trade routes, which both countries rightly saw as fundamental to their economic and political standing.
Middle East guest blog: Consumer protection my foot
The insurance broking fraternity in the United Arab Emirates met on 9 February to discuss how, through concerted effort, they can enter into a meaningful dialogue with the UAE Insurance Authority to reverse the recently released, notorious Directive 2.
Amlin estimates $50m-$70m in Thai floods claims
Lloyd’s (re)insurer Amlin said today it expects property and casualty reinsurance claims for the Thai floods to be in the range of $50m to $70m (€53m), net of reinsurance recoveries.
Amlin reports renewal rates up 4% in 2012
Amlin has written total income to date of £746.4m in 2012, net of brokerage - a 19.2% increase on the prior year.
Insurance 360 Research: Marine & Transport Insight Report 2011
Based on comprehensive input from 104 British Isles Marine & Transport broking professionals, the Marine & Transport Insurers Insight Report 2011 details the front-line service performance of the broker market's 13 most-used M&T insurers.
Brit appoints hull specialist from QBE
Brit Insurance has appointed industry specialist Bob Clarkson to be its senior marine hull underwriter, working closely with Simon Stonehouse, Anthony Forsyth and John Higham.
Interview - Bobby Gracey & Dr James Lygate: The future of forensics
Despite an abrupt and fractious first meeting many years ago, Bobby Gracey and Dr James Lygate are now business partners. The duo explain their plans for growth and diversification at IFIC.
Thirty insurers linked to Costa Concordia disaster
More than 30 insurers are likely to carry the cost of stricken Costa Concordia cruise ship.
Websure completes R&Q Marine Services implementation
Specialist insurance software provider Websure has completed the implementation and launch of R&Q Marine Services which was formed when the yacht and marine trade teams portfolio was transferred from Underwriting Risk Services.
Global tanker fleet hit by EU oil sanctions
New European Union sanctions on Iranian oil will impact around 95% of the global tanker fleet, including those operated by a major Bermuda shipping company, because they are insured under rules governed by European law.
Marine hull insurers await rating impact in wake of cruise ship sinking
The Costa Concordia cruise ship disaster has been called the largest insurance loss in maritime history with some suggesting it could be “bigger than the Titanic”.
Market moves: The busy world of broking
As January draws to a close, the past week has been a busy time in the world of insurance broking. Aon Benfield, Willis and Marsh all welcomed new chief executives, while Towergate, UIB and Prime Professions also made moves for new staff. However, it was…