Search results for: IUMI

473 results

A list of search results

  • 11 September 2015

    The International Union of Marine Insurance (IUMI) is calling for vessel owners and technical managers to make records available that provide important information on the condition of the ship and its machinery when a ship changes owner. “The current trend to remove these records has the potential to impact on the new owner’s ability to […]

  • 18 October 2019

    IUMI is calling for urgent improvement of firefighting systems onboard boxships.

  • 24 April 2013
    Business & Finance, Rules & Regulation

    The International Union of Marine Insurance (IUMI) has backed efforts to create a declaration of best practice for marine and energy operations in the Arctic. The declaration has been drawn up by a group of marine and energy experts in the Arctic region to create a voluntary set of standards. It will not be a […]

  • 19 September 2017
    Business & Finance

    With the growing size of container vessels concerns arose that current firefighting provisions are insufficient. Amid a recent spate of fires on board these ships, the International Union of Marine Insurance (IUMI) has published a position paper calling for better on board firefighting systems for container vessels. Recent examples include fires on NNCI Arauco (9,000 TEU) in […]

  • 4 December 2015
    Business & Finance

    Marine insurer IUMI has called for the introduction of a range of measures to help reverse the worrying increase in cargo theft globally. During the IUMI conference in Berlin, the association published a position paper which points out that cargo theft is no longer confined to high-value goods and that online trading platforms are encouraging the […]

  • 11 September 2015

    The International Union of Marine Insurance (IUMI) is calling for vessel owners and technical managers to make records available that provide important information on the condition of the ship and its machinery when a ship changes owner. “The current trend to remove these records has the potential to impact on the new owner’s ability to […]

  • 1 April 2015
    Business & Finance

    Exposures and risks are growing in size and complexity and these will require stable solutions in the future, according to the International Union of Marine Insurance (IUMI). The cost of salvage and wreck removal is dramatically increasing. It is estimated that Superstorm Sandy is the sixth costliest event in global insurance history. Cargo theft, mysterious […]

  • 29 August 2018
    Business & Finance

    IUMI: More infrastructure support is required to facilitate adequate insurance for Arctic sailings.

  • 20 September 2016
    Business & Finance

    Global marine underwriting premiums in 2015 amounted to USD 29.9 billion, down by 10.5% compared to the 2014 figure, and the trend of uncertainty is expected to continue, the International Union of Marine Insurance (IUMI) has warned. Technical insurance results for the 2014 underwriting year deteriorated strongly for cargo, hull and energy sectors compared with last […]

  • 3 December 2019

    IUMI: There is a concern that the incoming IMO sulphur cap may generate a spike in H&M claims.

  • 26 April 2019
    Business & Finance

    While the global fleet grew in 2018, total vessel losses stood at a 20-year low.

  • 13 November 2017
    Business & Finance

      The shipping industry is becoming ever more reliant on technology, making it at the same time more vulnerable to cyber attacks. Protection from cyber threats is key, although there are a lot of uncertainties in this field as well. Obtaining insurance for a company’s assets in case of a cyber attack is one way […]

  • 2 October 2014
    Business & Finance

    Global marine premiums dropped by 1.7% last year, falling from USD 34.8bn in 2012 to USD 34.2bn, as shown by the latest statistics released by the International Union of Marine Insurance (IUMI) at its 2014 annual conference held in Hong Kong. The conference gathered over 500 attendees who heard from industry experts on how the marine […]

  • 21 September 2016
    Business & Finance

    Two recent onboard containership fires have fueled concerns from International Union of Marine Insurance (IUMI) over the challenges involved with managing these incidents at sea as seafarers are being asked to tackle onboard fires with inadequate equipment. The two recent containership fires which raised concerns involve the 2015-built NNCI Arauco which ignited during welding operations on September 1 while the ship was in […]

  • 17 September 2019
    Business & Finance

    The marine cargo market is in a state of ‘accelerating change’, according to IUMI.

  • 18 September 2017
    Business & Finance

    Global marine underwriting premiums for 2016 fell by 9% reduction on the figure reported for 2015, as the hull sector saw a 10% reduction on the previous year. According to the International Union of Marine Insurance (IUMI) global marine underwriting premiums were at USD 27.5 billion for the year, while the the hull sector achieved a premium income […]

  • 25 December 2018

    IUMI: The current system of leaving the fuel testing or damage to the end user is outdated.

  • 29 December 2016
    Business & Finance

    The fall of South Korean carrier Hanjin Shipping into rehabilitation at the beginning of September 2016 has sent tremors through the cargo insurance market because of the serious delays and disruption it has caused to the supply chain, particularly to cargoes on the Asia-US route. Fortunately, the vast majority of Hanjin vessels have now discharged […]

  • 21 September 2018
    Business & Finance

    Containership fires, mis-declared cargoes a worrying trend for marine insurers.

  • 6 April 2017
    Business & Finance

    There has been a continued increase in frequency of major vessel casualties, according to the International Union of Marine Insurance (IUMI). The growth trend of marine risks is exerting a significant pressure on marine insurers, especially as the frequency of major vessel casualties rose again in 2016 for the second consecutive year, the union’s statistics released last week […]

  • 18 August 2015

    The recent catastrophe at the port of Tianjin in China, which resulted in the loss of at least 100 lives, with many more people still missing, shows the growing trend of accumulation risks – when a single event causes an exceptionally large group of related losses – such as this, according to the International Union […]

  • 18 August 2015

    The recent catastrophe at the port of Tianjin in China, which resulted in the loss of at least 100 lives, with many more people still missing, shows the growing trend of accumulation risks – when a single event causes an exceptionally large group of related losses – such as this, according to the International Union […]