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09 Oct 2018

Getting to grips with Marine Cyber Risks

The International Association of Classification Societies (IACS) has published nine new recommendations on cyber security, with a further 3 to be released by the end of the year. Recognising the huge increase in the use of onboard cyber-systems since that time, IACS has developed...
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28 Aug 2018

EU Blocking Statute; EU companies abiding by US sanctions will be sanctioned by the EU

Blocking Statute and US sanctions apply “inconsistent demands” In its update on the re-imposed US Sanctions on Iran, UK Club referred to an article from law firm Gibson Dunn, “Navigating the Divide for International Business”, which added EU-perspective...
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03 Aug 2018

Aspen to quit marine hull at Lloyd’s

Insurance Insider today reported Aspen is to cease writing three separate lines of business – aviation, marine hull and international professional indemnity books – which are valued at around $120m – through its Lloyd’s platform, CEO Chris O’Kane has revealed on the day the...
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04 Jul 2018

NEON announces launch of new Nordic insurance Agency Orca

Neon today announced it is launching Orca Insurance Agency, a Lloyd’s approved coverholder which will underwrite on behalf of Lloyd’s Neon Syndicate 2468, a subsidiary of Great American Insurance Group. Headquartered in Copenhagen and led by CEO, Lars Hendriksen, Orca will focus...
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04 Jul 2018

CEO Inga Beale to step down from Lloyd’s in 2019

I am writing to you today to let you know that I will be stepping down next year after five years as CEO of Lloyd’s. The decision to leave has been a tough one and when the time comes I will miss the energy, innovative spirit and expertise that I come across in the Lloyd’s market...
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28 Jun 2018

20 Lloyd’s syndicates told to get profitable or close

Lloyd’s has said one of the centrepieces of its drive to address the underperformance of the market will be a focus on improving the results of the syndicates that have consistently posted the worst results. Sources said that a letter went out to just over 20 syndicates last...
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28 Jun 2018

AmTrust closes Lloyd’s marine book

US insurer AmTrust is closing its Lloyd’s marine business. “We can confirm after a strategic review that we are exiting the marine cargo, hull and liability lines of business with immediate effect. We are excited about the potential for existing and new lines for the rest of 2018...
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13 Jun 2018

DNV GL releases first cyber security class notations

Classification society DNV GL last week announced the forthcoming publication of class notations to help shipowners and operators protect their assets from cyber security incidents. DNV GL said that the new class notations – Cyber secure – would help owners and operators protect...
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21 May 2018

Global maritime industry “ripe for hacking”

The maritime industry often has high value cargo ships with legacy systems, bad awareness, poor processes, and seaports suffering from the same problems, making it an industry “ripe for hacking”, according to Tamlin Magee, writing last month in TechWorld. Although...
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26 Jan 2018

Alandia uprated to A- S&P

Alandia announced today that Standard & Poor have increased the company’s rating to A- with a stable outlook. This represents a significant moment for the Aaland insurer who over the past years have been widening the scope of its marine operations to gain a position as...
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03 Jan 2018

Anders Langeland Johannessen appointed Managing Director of Edge Norway AS

We are pleased to announce that Anders Langeland Johannessen (35) will be joining Edge as Managing Director of Edge Norway AS. Anders will replace Tom Midttun who will focus a larger part of his time on client work and on developing the Edge Group, where he is the CEO.   The...
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01 Jan 2018

Svein Dammen retires from Edge Norway

Svein Dammen has retired from his position as Senior Broker at Edge Norway. Svein, by this, has respectfully gained over 40 years of experience from the Marine Insurance Market, where his specialty was P&I related matters. Svein has put behind an 11 years career with Skuld,...
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24 Aug 2017

Cyber Seminar in Copenhagen on 11 September

Edge will discuss cyber insurance solutions at a seminar arranged by Danish law firm Bech-Bruun. The seminar will take place on the 11th September at 15.00-17. 30, at Bech-Bruun Law Firm,  Langelinie Allé 35, 2100 København Ø. Please register to attend by the 6th September.
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09 Aug 2017

Guidelines on Cyber Security onboard Ships published

BIMCO, CLIA, ICS, INTERCARGO and INTERTANKO have published their joint Guidelines on Cyber Security onboard Ships, which offer guidance to shipowners and operators on how to assess their operations and develop the necessary procedures and actions to improve resilience and...
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02 May 2017

US official says resurgence of Somalian piracy partially down to famine

US Marine General Thomas Waldhauser has said that famine could be a major cause of the re-emergence of piracy off the Somalian coast around the Horn of Africa. Defence Secretary Jim Mattis was visiting an important military base in Djibouti as part of a week-long trip to the...
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02 May 2017

Global growth rate in marine pushed by emerging economies

The global marine insurance market is expected to grow at a compound annual growth rate of 2.57% between 2017 and 2021, according to the “Global Marine Insurance Market 2017-2021” report from Research and Markets. The company noted that, among other factors, a rising...
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31 Mar 2017

Michael Weber appointed Head of Broking of new Danish office

We are very pleased to announce that Michael Weber has joined Edge as Head of Broking at Edge Denmark Aps.   Michael (44) has considerable industry experience where his most recent position was as a Partner and Chief Underwriting Officer and COO at the marine underwriting...
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31 Mar 2017

Lloyd’s opens subsidiary in Brussels in response to BREXIT – posts profit of EUR (!) 2.5 bm

Lloyd’s have today issued the following notification: QUOTE The Lloyd’s market made a pre-tax profit of €2.5bn, recorded a 97.9% combined ratio and a return on capital of 8.1% for 2016. Full details of Lloyd’s annual results 2016 can be found at:...
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