Insurance

This page features all the latest news on Protection and indemnity insurance.

Insurance

November 29, 2018

P&I claim payout for Iran oil shipping may fall below $100 mln from $8.2 bln

Claim payouts to shipowners using the protection and indemnity insurance cover for their Iranian oil shipping may get restricted to liabilities of up to $100...

October 11, 2018

North P&I Club celebrates new, larger office opening in Piraeus

North P&I Club celebrated the opening of its new office in Piraeus, Greece, with an open-house reception for around 350 representatives from the Greek shipping...

September 18, 2018

North P&I Club opens new Piraeus office

Leading global marine insurer North P&I Club has opened a new, larger office in Piraeus. (more…)

August 23, 2018

American Club: George Tsimis resigns

After more than sixteen years’ service to the American Club, most recently as Senior Vice President of Shipowners Claims Bureau, Inc. (SCB), in which capacity...

August 14, 2018

North P&I Club Adds Strength and Depth to Greek Office Team

Leading global marine insurer North P&I Club has further strengthened its Greece based team with a number of new appointments and internal promotions (more…)

August 7, 2018

UK P&I Club opts for Rotterdam as hub due to Brexit

British ship insurer UK P&I Club is in the process of setting up a subsidiary in the Dutch port city of Rotterdam to ensure continued...

July 30, 2018

Brussels, Greece among EU Brexit options for London insurance brokers

Brussels, Athens and Piraeus are among cities London insurance brokers could consider for European Union subsidiaries, with time running out to plan for a hard...

July 25, 2018

UK P&I Club redeems $100 million Hybrid bond

The UK P&I Club (‘the Club’), one of the leading providers of protection and indemnity insurance, announced the Board agreed to redeem its $100 million...

May 31, 2018

2017 a “good year” for the UK P&I Club

2017 was a good year for the UK P&I Club. The underwriting surplus of $29 million was the largest in recent years. (more…)

May 25, 2018

North P&I Club Posts Strong Annual Results

Leading global marine insurer North P&I Club has announced its annual results, confirming a 4.6% increase (US$20 million) in free reserves to US$451 million (more…)

epa05142254 The Starla, an Iranian large crude oild tanker with a cargo-carrying capacity of 317,000 dead weight tons, is moored at a buoy of South Korea' largest oil refiner SK Energy off Ulasan, South Korea's southeast coast, 04 February 2016. It marks the second time an Iranian crude oil carrier has made a call at a South Korean port since 17 January, when the international community lifted most economic sanctions against the Middle East country. EPA/YONHAP SOUTH KOREA OUT

May 16, 2018

Iran Oil Exports Face Insurance Snag No Matter What Europe Wants

If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll...

May 10, 2018

UK P&I warns owners on Iran dealings

Members will have noted the decision by President Trump announced on May 8 to withdraw the USA from participation in the JCPOA (Joint Comprehensive Plan...

April 16, 2018

P&I insurance costs to remain flat in 2018 but to rise thereafter

The recent conclusion of the protection and indemnity (P&I) renewal season has resulted in premiums remaining unchanged in 2018 thanks to benign financial conditions. (more…)

March 16, 2018

Maersk Honam Fire: Insurers Brace for Multi-Million-Dollar Claims – report

The insurance industry is bracing itself for hundreds of millions of dollars of claims from the biggest container vessel casualty to date – but some...

February 22, 2018

North P&I Club consolidates its leading position

North P&I Club has consolidated its position as one of the leading members of the International Group of P&I Clubs, with controlled growth in total...