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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?”
Contaminated oil undermines a firm’s ability to capitalize on low oil prices.
Marine, aviation and energy sector losses accounted for much of the losses. Employee training would help.
The marine services sector faces exposures both seen and unseen.
Larger ships using standard ports means less room for error.
The project cargo business is back on the increase after a period of the doldrums.
Marsh: P/C rates to remain competitive this year — with some exceptions.
Driverless technology is flowing to the oceans, but risks will slow global adoption.
A dispute delaying Panama Canal construction was resolved, but further delays could be costly to shippers and exporters.
Floating plants have advantages over grounded facilities and few unique risks.
Insurance foots the bill for the largest marine recovery project in history.
In raising the Costa Concordia, we have a story showing what insurance does so well.