Over recent years, the insurance sector around the word has faced unprecedented times, not just in the area of marine surveying where loses and insurance claims remain high. This review from Allianz may, in part, explain just why surveyors’ PI insurance premiums around the world have jumped.
A fire at a busy warehouse leaves a company struggling to replace its buffer stock; a ransomware attack paralyzes a company’s IT systems; the use of industrial adhesives in manufacturing results in a costly product recall: every day companies Continue reading “Fire, natural catastrophes and faulty workmanship top causes of insurance claims for business: Allianz”
With the pandemic putting more people than ever on the water and consequent rise in boating accidents and fatalities, there’s some better news in the newly released 2021 
Singapore has secured the top spot once again in the Xinhua-Baltic International Shipping Centre Development Index Report. It is the ninth consecutive year that the report, published jointly by Chinese state news agency, Xinhua, and global maritime data provider, the Baltic Exchange, has Singapore ranked number one shipping centre.
The West P&I Club has noted a number of recent container fire incidents related to containers which were declared as miscellaneous items but actually contained charcoal/carbon. This is a commodity liable to spontaneous combustion. These containers were below deck and when fires broke out there was considerable damage caused to the vessel and other cargo by the fire and the water used to extinguish the fire.