Resources
Review of the Marine Hull Insurance market
A review of the past 12 months in the marine hull insurance market can only be made mindful of the developments in world trade, the global financial situation and the impact this has on the shipping industry.
In addition to these macro influences we have the insurance industry micro specifics of fluctuations in capacity, the potential impact on both rating and image for the "Deepwater Horizon", the piracy crisis in the Gulf of Aden (including the US Executive Order) and Iranian sanctions.
Within this paper we provide a commentary on these issues and offer our own view of the current situation in the marine market and where we believe the hull insurance market will be in the next 12 months.
Piracy white paper - Coverage and Response
Whilst this peril has always existed on the high seas, the scale and intensity of piracy in the Gulf of Aden has focused the attention of the shipping and insurance industries on this exposure and how coverage for it is structured. A number of specialist coverages have been developed in order to provide greater certainty and assistance to owners where existing arrangements were perceived to be lacking.
In this paper we address the key insurance issues to consider as regards piracy. These issues are:
- What are the key risk factors?
- Where this peril is best placed and what are the advantages and disadvantages of moving the peril from one policy to another?
- What exactly does Kidnap for Ransom (K&R) coverage provide and what is the benefit?
View our Webcast
Protecting ships in the Gulf of Aden
Mis-information and a lack of knowledge can often exaggerate problems when dealing with piracy issues. For this reason, JLT hosted a seminar attended by over 80 London insurance market executives and ship owners. They got the chance to hear from and question Commander Gerry Northwood, Assistant Chief of Staff, Operations, EU NAVFOR Atalanta.
Commander Northwood explained what EU NAVFOR Atalanta are doing to prevent piracy and how ship owners can work with them to improve the protection of their vessels.
Click here to view and hear the presentation.
Marine Insurance Brochure
Today all Marine Insurance and Risk Management Programmes - from start-ups to the biggest global operations - call for highly sophisticated risk-broking strategies.
Find out more about JLT Marine Insurance Services
Introducing London's Leading Marine Broker
Today all Marine Insurance and Risk Management Programmes - from start-ups to the biggest global operations - call for highly sophisticated risk-broking strategies. Market leading expertise is what sets JLT apart from our competitors and provides you with the comprehensive solutions you need. Our approach is entirely project and client driven. You will have access not only to a truly comprehensive range of products but also to an array of innovative solutions outside the scope of traditional marine insurance.
Visit the JLT Marine Insurance Services web page
Find out more Kidnap for Ransom (K&R)
As corporates expand their activities into increasingly high-risk countries their employees are operating in or travelling to territories where their safety cannot be guaranteed. With kidnappings around the world estimated to have increased by 100% in the past six years and the increased focus on corporate responsibility, senior management must pay closer attention to the personal safety of its staff than ever before.
Visit the JLT Kidnap and Ransom Insurance web page