Keyword
marine
Transportation Safety Board probes tour boat sinking on Haida Gwaii
September 28, 2022 The Canadian PressRICHMOND, B.C. – The Transportation Safety Board has sent a team to British Columbia’s north coast to probe the sinking of a tour boat in Haida Gwaii. A statement from the safety board says the team of investigators has been…
Navigating climate change: How shipping is adapting in the St. Lawrence
September 8, 2022 The Canadian PressBy Claude Comtois, Professeur emerite de geographie, Universite de Montreal – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the…
Commercial insurer, brokerage granted right to a jury trial in marine claim
September 7, 2022 by David GambrillA B.C. commercial fishing operation must face a jury in its insurance claim against Intact Insurance and the brokerage Harlock Murray Underwriting Ltd., B.C.’s Supreme Court has ruled. The court was not convinced the claim of Arctic Pearl Fishing Ltd.,…
Insurer appoints new head of marine for Canada
September 2, 2022 by Jason ContantAnthony Tramonte has joined Allianz Global Corporate & Specialty (AGCS) as head of marine for AGCS Canada, the insurer announced Thursday. In his new role, Tramonte will develop and lead the local strategy and proactively support the development of AGCS’…
Container ship the size of two football fields adrift off N.L., says coast guard
March 10, 2022 The Canadian PressST. JOHN’S, N.L. – The Canadian Coast Guard says a container ship the length of two football fields is adrift off the west coast of Newfoundland. The agency said in an email Wednesday the 265-metre-long MSC Kim reported engine problems…
Why mega-ships are mega risks for marine insurers
August 16, 2021 by Jason ContantThe blocking of the Suez Canal by the Ever Given container ship in March shows that ever-increasing vessel sizes continue to pose a disproportionately large risk, said marine insurer Allianz Global Corporate & Specialty SE (AGCS). On Mar. 23, 2021,…
Boom or bust: What MGAs are seeing in commercial lines
July 27, 2021 by Jason ContantWith many people still working from home, one marine underwriter has seen the pleasurecraft line of business “take off.” But that doesn’t mean it’s smooth sailing for marine underwriting. It can still be difficult finding capacity for small- or mid-sized…
How the Suez Canal blockage may impact reinsurance rates
March 30, 2021 by Adam MalikThe fallout of the blockage of one of the most used shipping lanes in the world could affect global reinsurers differently than insurers, two separate analyst reports suggest. One, Fitch Ratings, says the blockage will be a large loss event…
How COVID-19 is changing marine cargo insurance
July 23, 2020 by Greg MeckbachMarine cargo policies that were drafted before the COVID-19 pandemic may need a second look because of the way business disruptions and lockdowns are affecting the global supply chain. “We are starting to see insurers already change or apply endorsements…
How pandemic is making a common marine risk problem worse
July 16, 2020 by Greg MeckbachThe pandemic is making it difficult for shipping companies to get spare parts and technical professionals aboard to perform essential maintenance and repair, a new report from Allianz Global Corporate & Specialty suggests. For the insurance industry, the most common…
The impact of surreptitious dangerous goods shipments on marine insurance
July 15, 2020 by Greg MeckbachThe marine insurance sector saw a huge drop last year in the number of total shipping losses but the industry continues to have a problem with shippers trying to sneak hazardous and flammable cargo on board without declaring it. “Dangerous…
Court sides with insurer in disputed marine cargo claim
September 4, 2019 by Greg MeckbachA large Canadian manufacturing multinational has lost a legal battle, although not necessarily the war, with Chubb Insurance Company of Canada over a marine coverage dispute. It started in 2013 when Cambridge, Ont.-based ATS Automation Tooling Systems Inc. sold machinery…