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Somali Pirates: Attacks Down but Reach Spreads
We’ve covered the pirate crisis in the Gulf of Aden numerous times — once in the February 2009 issue of Risk Management and twice more on this blog (The Rising Price of Piracy Insurance and Security at...
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Can Britney Spears Ward Off Piracy?
Pirates remain a notable risk for businesses that involve maritime activities like shipping for supply or distribution. While it’s easy to dismiss the idea with images of wooden ships, gangplanks and...
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Disaster Losses Down From 2012
Windstorm Xaver: Model shows a large area of high winds in the lower atmosphere pushing waters of the North Sea into the coasts around western Europe. Courtesy WeatherBELL Analytics. Natural...
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Marine Losses Continue Downward Trend
The marine industry continued to see a steady decline in the number of large ships losses globally since 2002, with 94 ships lost in 2013, down 20% from 117 reported in 2012, according to a study by...
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Piracy Incidents Down
Steps taken by the international maritime community have paid off, reducing the threat of piracy in the Arabian Sea’s Gulf of Aden, according to the Allianz Global Corporate & Specialty Safety and...
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August P&C Rates Flatten in U.S.
The August 2015 composite rate for property and casualty insurance placements in the United States were flat or showed no change compared to the July 2015 composite rate, which was up 1%, according to...
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Competition Drives Commercial Rates Down 4% in January
The composite rate for property and casualty business placed in the United States measured minus 4% in January. Rates dropped from minus 2% in December 2015 to minus 5% in January 2016, MarketScout...
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June Commercial Insurance Rates Up 1%
The composite rate for commercial insurance placed in the United States rose to minus 1% in June from minus 2% in May, according to MarketScout. One of the most significant changes was rates for...
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Aquisition Integration for Logistics and Cargo Insurance
During my 36 years in the marine insurance industry, one of the most common issues has been failure to properly integrate acquisitions into cargo logistics insurance programs—which can result in gaps...
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Going Lo-Fi At Sea May Mitigate Cyberrisk
Cyberthreats have become seaborne in recent years, and preventative measures are on the radars of governments and the shipping industry. GPS and other electronic systems have proven to help ensure safe...
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