Latest news about marine insurance providers, marine insurance claims and what sailors and boat owners need to think about when buying marine insurance.
A controlled explosion has brought down the largest remaining collapsed span of the Francis Scott Key Bridge in Baltimore. Officials confirm the detonation, overseen by US Army explosives experts on Monday (13 May 2024), went as planned. “It’s a lot like peeling back an onion,” General Scott Spellmon of the US Army Corps of Engineers […]
The city of Baltimore has sued the operator and owner of the container ship Dali, which crashed into the Francis Scott Key Bridge last month, causing the four-lane bridge to collapse and killing six construction workers. Baltimore claims in a federal lawsuit that the ship had “an incompetent crew” and set sail despite receiving warnings, […]
Insurance payouts for the collapse of Baltimore’s Francis Scott Key Bridge, which collapsed on Tuesday (26 March 2024), may be the largest in history, according to Lloyd’s of London chief executive John Neal. “This has the potential to be one of the largest marine losses in history,” Neal tells Bloomberg News. “It’s a multi-billion dollar […]
Why did Haven Knox-Johnston restructure, and how is it adapting to niche markets and new consumers? In September 2023, Howden UK & Ireland launched its new business structure, essentially bringing all brands under one umbrella to offer a full spectrum of insurance solutions to the marine industry. The new business practice now operates under three […]
Marine insurance provider West P&I Club has launched a new product to provide cover for vessels entering a war and piracy ‘breach’ area, such as the Gulf of Aden or the Gulf of Guinea, where there is a heightened risk of vessels being seized. It’s pithily called West Piracy Protection and is designed to help […]
A British couple are facing a bill of up to £200,000, after partying sailors set their 100-year-old wooden boat on fire by landing flares on the deck. Police in Spain arrested three Ukranian merchant sailors on New Year’s Day after the classic sailing vessel Maori caught fire on the Costa Blanca in Alicante. The trio, […]
Boat insurance specialist Haven Knox-Johnston has agreed extended terms with MS Amlin Marine, its policy underwriter, to provide continued support to the Haven Knox-Johnston business for the next three years. This renewed agreement consolidates their partnership and means MS Amlin will continue to act as the preferred insurer for Haven Knox-Johnston insurance products. Haven Knox-Johnston, […]
CompareYachtInsurance.com has appointed Penny Searles as chair of the board. Searles is renowned for her influential role in shaping the landscape of using telematics data to reduce loss ratios in both motor and marine, and distributing the policies via aggregator space. She also has a proven track record of successful leadership in entrepreneurial venture positions, […]
Specialist boat insurance firm Haven Knox-Johnston has confirmed a new series of ‘From the Helm’ webinars, designed to keep grounded mariners company throughout the winter months and beyond. Listeners can listen to expert advice about the latest maritime matters or discover the practical steps necessary to embark on extraordinary boating adventures. First on the agenda […]
Insurtech firm Ripe has completed its first mergers and acquisitions transaction by acquiring specialist boat insurer, Craftinsure. The deal, subject to customary closing conditions, is the first that Ripe has made since Aquiline Capital Partners invested in the business in 2022. Insurtech refers to technological innovations that are created and implemented to improve the efficiency […]
Howden UK & Ireland has launched its new marine insurance practice at the Southampton International Boat Show. The new marine practice provides a full spectrum of insurance solutions to the marine industry, UK boat owners and blue ocean cruisers. The new practice will operate under three distinctive trading styles, as Haven Knox-Johnston, Haven Knox-Johnston Specialist and Haven Knox-Johnston Commercial. […]