Marine
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P&I clubs violating sanctions will not be able to cede risk to the group’s reinsurance programme.
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The clarification relates to an article published yesterday titled "Wrecked Santa Cruz dive boat insured for only $2mn".
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If successful, the Fritzler family could avoid paying out more than the remaining value of the hull.
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The mutual’s half-year combined ratio improved by 0.5 points.
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Marine liability lawyers said the vessel operator may try to invoke the Limitation of Liability Act.
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Fraser joins the business from Alliant and takes up the role of vice president, energy and marine practice leader
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Senior underwriting executive Mark Engel will join RB Jones and oversee the marine portfolio.
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The carrier will continue to write hull business in Europe from its Genoa office. -
A report from the broker said insurers’ tolerance of mediocre results has hit an ‘inevitable bottom’.
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The pullback is one of several lines to be trimmed as the carrier cuts $900mn of premiums from its portfolio.
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The class exits follow the closure of the carrier’s Miami office.
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Cashman Equipment Corp said it believed its five vessels were covered by Lloyd’s of London.
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