In March, a large container ship blocked the Suez Canal for six days, costing nearly $400 million an hour in global trade losses. Now, cargo and vessel owners are asking, “Who foots the bill?”

Despite little immediate property loss, megaships pose serious challenges to marine insurance and risk management.

Before he became a marine insurance broker, Marsh’s Christopher Maro spent three years serving as a third mate on merchant vessels.

Six commercial insurance brokers in the marine sector were named 2021 Power Brokers. 

RIMS names a 2020 Risk Manager of the Year, Marsh appoints a new global leader of multinational client service in this edition of People on the Move.

As the effects of rapid climate change rage on, vital ecosystem services are diminishing. The cost to the global economy could be devastating.

This year, six brokers from across the brokerage field were named as the 2020 Marine Power Broker winners. One additional broker was named as a finalist.

A freight carrier accused of price fixing is on the hook for its defense after late notice was given to its insurance company.

A 2011 staged pirate attack on a Greek cargo vessel was an outlandish attempt to collect an insurance payment. These extreme fraud claims pose a legitimate threat to marine underwriters.

Hiscox hires Landon O’Hara, American P&I Club Managers expands their global service team threefold and more in this edition of People on the Move.

A look at recent court decisions and how their rulings have an impact on risk management and the insurance industry.

Wesley Bryan, Senior Vice President, Marsh Marsh Wortham’s Wesley Bryan doesn’t just know the insurance business, he knows the insured’s businesses. “Wesley knows our business, our philosophy and our needs intimately,” said one client. “This level of understanding and commitment to our account ensures that we get the right solution first time and in no… View Article

Lloyd’s, Ironshore and other insurers are taking another look at their appetite for underwriting high-end watercaft.

Onboard fires, cyber attacks and the risk that distracted captains will run vessels aground are all leading to increased cargo marine losses.

An increasingly productive economy means more trade and demands more exacting logistics risk management.

Global piracy is being mitigated while insurers hold steady on policies and practices.

The first formal marine insurance policy was created around 1350.

Is a remote operator legally a master? New technology confounds old terms.

His ‘Claim’ Is Advocacy Most brokers list their job title as broker, of course. But George Andersen calls himself a client advocate/broker, and that small distinction is revealing. Having “grown up” in the insurance world thanks to a mom in the biz, it feels like family to Andersen, so he treats his clients like family…. View Article

After a year of heavy losses, marine underwriters are imposing rate hikes despite plentiful market capacity.