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Summer is Here: Boat Owners Should Reevaluate Insurance Coverage

Summer is Here: Boat Owners Should Reevaluate Insurance Coverage

A 44-year-old woman was tragically killed after being ejected from a boat that hit a dock on Black Creek in Clay County, Florida, on June 14. The boat was being driven by the woman’s friend Steve Brookins, familiar to many as the drummer in the ‘70s rock band 38 Special, who was injured in the crash and hospitalized, according to…

Millions of Honeybees Killed in Delta Shipping Disaster

Millions of Honeybees Killed in Delta Shipping Disaster

Millions of honeybees tragically died on a hot airport tarmac in Atlanta after a series of mistakes that occurred while the bees were being shipped from California to Alaska. According to reports, the 800-pound shipment of bees could not be accommodated on its original Delta Air Lines flight due to an aircraft change that rerouted the bees to Atlanta, where…

Rising Risks: Amazon Responds to Supply Chain Problems and Shipping Deadlines

Rising Risks: Amazon Responds to Supply Chain Problems and Shipping Deadlines

The supply chain crisis is overwhelming companies on a global scale, causing industry giants like Amazon to turn to high-risk delivery methods like chartered ships and long-haul planes. And while that gives companies more control over the path of their own deliveries, it also opens them up to new forms of liability in the already volatile transportation industry. A recent…

Ask the Expert Q&A: Recreational Marine Insurance

Ask the Expert Q&A: Recreational Marine Insurance

The boating industry has boomed during the pandemic, creating opportunities — and also increasing risks — for those who own, operate, sell or repair watercrafts. To learn more about Recreational Marine Insurance, we spoke with Matt Bryant, Broker, Marine, Burns & Wilcox, Orlando, Florida. What are the greatest risks related to Recreational Marine today? M.B.: The term “Recreational Marine” applies to…

Cargo Ship Blocks Suez Canal for Nearly a Week, Spotlighting Trade Vulnerabilities

Cargo Ship Blocks Suez Canal for Nearly a Week, Spotlighting Trade Vulnerabilities

The MV Ever Given, a massive cargo ship that gained notoriety for running aground amid high winds on March 23 and completely blocking the Suez Canal, was finally freed on March 29. Salvage and dredging crews labored for days before successfully re-floating the vessel, aided by a full moon and high tide. The nearly quarter-mile-long ship was reportedly carrying 20,000…

Ocean Cargo Insurance

Ocean Cargo Insurance

Presented by: Patrick Barco, Manager, Ocean Marine, Burns & Wilcox Canada Special Guests: Mark Engel, Managing Director, RB Jones, and John Gambino, Underwriting Manager, Cargo, RB Jones Hosted by: Jodie Kaufman Davis, Corporate Senior Vice President, Managing Director, Burns & Wilcox Canada In this webinar, we: Provide an overview on the Ocean Cargo segment of the Marine Insurance market Discuss supplier…

Capsized Vessel Imperils Crew, Damages Millions in Cargo

Capsized Vessel Imperils Crew, Damages Millions in Cargo

At 2 a.m. on September 8, the U.S. Coast Guard stationed near St. Simons, Georgia, was alerted that the Golden Ray, a South Korean cargo vessel carrying over 4,000 new automobiles, had begun dangerously inclining to one side, shortly after departing the Port of Brunswick. By late morning response teams had rescued 20 of the ship’s 24 crew members; however,…

Autonomous Ships Shaping New Coverage Considerations

Autonomous Ships Shaping New Coverage Considerations

As the global economy expands and oceans become more crowded, the shipping industry is looking to autonomous ships to reduce accidents, increase efficiencies and cut costs. Last month a Dutch consortium engaged a vessel equipped with collision avoidance technology in 11 test scenarios in the North Sea, and earlier this month the Maritime and Port Authority of Singapore announced its…

Great Lakes Oil Spill Shows Need for Environmental and P&I Coverage

Great Lakes Oil Spill Shows Need for Environmental and P&I Coverage

The U.S. Coast Guard and other authorities have completed one phase of an investigation into severed underwater cables that leaked about 600 gallons of mineral oil insulation fluid in the Straits of Mackinac. Officials suspect a boat anchor strike on April 1 damaged the cables and dented oil pipelines in the waterway that connects Lake Michigan and Lake Huron. The…

Commercial Marine Insurance: Comparing Cruise Ships to Local Ferries

Commercial Marine Insurance: Comparing Cruise Ships to Local Ferries

The cruise ship industry sees nearly $38 billion in revenue annually around the world, with more than $15 billion invested into new cruise ships1. Ferries, cruise ships, and other passenger vessels are a much different exposure than cargo ships that carry dry cargo, not people. Accidents and catastrophic mechanical failures with passenger vessels often result in lawsuits and more expensive claims.…

Risk Below the Surface

Risk Below the Surface

Five questions for marine insurance expert, Patrick Barco Transporting materials is a complex process involving numerous parties with competing interests and responsibilities. Global in scope, modern supply chains are fraught with risk as freight forwarders work with cargo carriers to ensure products are transported safely and efficiently from point A to point B, crossing borders and great distances by land,…

Seaworthy

Seaworthy

The nautical know-how you need to make marine a lucrative part of your business With spring upon us, the thoughts of many who live in America’s colder climes turn to the water, and in particular, to boating. In 2013, some 88.5 million of the 242 million adults living in the United States — about 37 percent — engaged in fishing,…

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