Rising Vessel Complexity and Size Escalate Risks in Global Marine Insurance Market
As vessels grow in size and complexity, the global marine insurance market faces heightened risks, leading to increased volatility and the need for long-term strategies to manage major losses.
August 26, 2024
Insurance Industry
Marine
Risk Management
Underwriting
New Collaboration to Address Supply Chain Risks in Re/Insurance Industry
Gallagher Re and Oxford University partner to analyze supply chain chokepoints impacting the re/insurance sector.
May 20, 2024
Marine
Property
Risk Management
Technology
Rising Atlantic Ocean Temperatures May Boost Hurricane Activity in 2024
With Atlantic Ocean temperatures nearing critical thresholds, the 2024 hurricane season could see increased cyclone strength and frequency.
May 15, 2024
Catastrophe
Marine
Risk Management
Technology
Chubb to Pay $350 Million in Claims for Baltimore Bridge Collapse
Chubb, the insurer for Baltimore’s Francis Scott Key Bridge, is set to pay out $350 million following the bridge’s catastrophic collapse, which resulted in significant economic and human losses.
May 2, 2024
Catastrophe
Insurance Industry
Litigation
Marine
Maryland
Cruise Industry’s Post-Pandemic Rebound and Sustainability Challenges
As the cruise industry recovers from the pandemic’s impacts, it faces new sustainability goals and operational challenges in a changing global landscape.
May 2, 2024
Insurance Industry
Marine
Risk Management
Connecticut Contractor Faces Heavy Fines After Pier Collapse in Massachusetts Injures Workers
OSHA fines Mohawk Northeast Inc. over $200,000 for failing to ensure the safety of a pier that collapsed in New Bedford, injuring two workers.
April 15, 2024
Liability
Marine
Risk Management
Connecticut
Massachusetts
Navigating the Stormy Seas of Marine Insurance Claims with Expertise and Empathy
Marine loss adjuster Paul Field reveals the challenges and nuances of handling insurance claims for pleasurecraft, emphasizing the human aspect and technical expertise required.
March 29, 2024
Insurance Industry
Marine
Risk Management
Technology
Baltimore Bridge Collapse May Set Record for Marine Insurance Losses, Lloyd’s of London Chairs Warn
Lloyd’s of London anticipates the Francis Scott Key bridge collapse to potentially become the most significant marine insurance loss in history.
March 28, 2024
Catastrophe
Insurance Industry
Marine
Risk Management
Maryland
Ship Owner Utilizes 19th-Century Law to Mitigate Liability After Baltimore Bridge Collision
After a catastrophic accident involving a ship and a Baltimore bridge, the vessel’s owner looks to an old maritime law to potentially cap damages, reshaping the financial aftermath.
March 27, 2024
Insurance Industry
Legislation & Regulation
Marine
Maryland
Major East Coast Bridge Collapses After Collision with Cargo Ship, Triggers Extensive Search and Rescue Operation
The collapse of the Francis Scott Key Bridge, after being struck by a cargo ship, has led to a significant emergency operation and concerns over East Coast shipping logistics.
March 26, 2024
Catastrophe
Marine
Risk Management
Technology
Maryland
Spire Global and NVIDIA Join Forces to Revolutionize AI-Driven Weather Forecasting
Spire Global teams up with NVIDIA, aiming to improve forecast accuracy and tackle the challenge of extreme weather events through AI-driven weather prediction.
March 20, 2024
Catastrophe
Marine
Risk Management
Technology
Record-High Sea Surface Temperatures Alarm Ocean Scientists Globally
Ocean temperatures have surged to unprecedented levels for over a year, alarming scientists about potential long-term ecological and meteorological impacts.
March 15, 2024
Catastrophe
Marine
Risk Management
Marine Insurers and Shipowners Unite for Greener Shipping Futures
Marine insurance experts advocate for joint decarbonisation efforts with shipowners to navigate the complexities of reducing greenhouse gas emissions.
February 23, 2024
Legislation & Regulation
Marine
Risk Management
Technology
Supercharged Hurricane Season Looms in 2024, Experts at AccuWeather Warn
With La Niña’s return and record-warm Atlantic waters, AccuWeather forecasts a potentially explosive hurricane season in 2024.
February 20, 2024
Catastrophe
Marine
Risk Management
Texas
Study Warns of Looming Risk of Atlantic Ocean Current Shutdown and Its Global Impact
A groundbreaking simulation suggests the Atlantic Ocean’s vital currents may face a "cliff-like" collapse sooner than expected, threatening drastic global climate shifts.
February 12, 2024
Catastrophe
Marine
Risk Management
