By 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…
Anthony 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’…
ST. 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…
The 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,…
With 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…
Marine 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…
The 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 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…
A 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…
Federal regulations requiring liability insurance for boats that carry passengers take effect Jan. 11, Transport Minister Marc Garneau announced Wednesday. It is estimated the industry will make $24.8 million more, over 10 years, than it otherwise would have, the federal…
Some insurers are considering how artificial intelligence could help underwrite marine risks. Although big data has been around for years, “what has changed with AI is just using bigger more disparate data sets which go across different domains – for…