Freight theft accounts for billions of dollars in losses worldwide every year, with road transport the major target of criminal activity, according to a recent international report.
Two Chevrolet Silverados, as well as mountain bikes, commercial laundry equipment, scissor lifts and numerous smaller goods are among the contents of containers that fell off a cargo ship off the east coast of New South Wales in June 2018.
The marine insurance market will continue to prove a difficult battleground, with specialist advice more important than ever before, according to a Gallagher expert.
Gallagher is among the key players listed in a new report which analyses cargo insurance offerings by company and region, including the Asia-Pacific.
The world’s first fully autonomous cargo ship is under construction in Norway, with completion slated for 2020, but automation is being adopted for commercial fleets right now as tech experts enter into partnerships with industry suppliers.
For as long as there has been commerce, there has been insurance – or risk management, at least. Back in the third millennia BC, Chinese traders carrying goods by sea would divide their cargo between different vessels to limit their losses in the event of an accident or disaster. They were one of the earliest practitioners of risk transfer.
In 2008 the Australian cruise ship Athena was sailing through the Gulf of Aden when it found itself surrounded by at least 29 small boats, suspected to be Somali pirates. The ship escaped unharmed and made port safely, but another ship – Oceania Cruises’ Nautica – had been attacked in the same waters just a few days before and had shots fired at it by its assailants.
Multinational cyber security firm Kaspersky Lab says the marine industry is ‘easy meat’ for cyber criminals, and a recent data breach at shipping company Svitzer Australia – which affected almost half of its Australian employees – would suggest that’s not far from true.
The South China Sea, which is some 3.5 million square kilometres in size, is the subject of ongoing territorial disputes between China and the Philippines, Vietnam, Taiwan, Malaysia and Brunei. But how important is this marginal sea to the global maritime and shipping industry? And what impact would rising tensions have on insurance?
A new report, published by Gallagher, has revealed the biggest risks facing the marine industry - and is available as a free download.
Boaters are being urged to remain vigilant following a cargo spill that saw 83 containers lost in seas off the coast of Newcastle.
The Maritime Law Association of Australia and New Zealand (MLAANZ) has recommended amendments be made to the Commonwealth Marine Insurance Act 1909 (MIA) following changes to the UK Marine Insurance Act 1906 (UK MIA), on which the law is based.
Regulatory reform is set to have a big impact on Australia's marine and logistics sector in 2018. In this short video interview, Gallagher's Marine National Practice Leader, Stephen Rudman, outlines what's in store.
Stephen Rudman, Gallagher's National Practice Leader, Marine, has been identified as one of the next wave of Australian broking leaders and nominated to join the Zurich NextGen Leadership Academy.
From time to time, the media bursts with the latest infectious disease outbreak, from food poisoning to ebola. It’s a timely reminder that in these situations, you should review your insurance cover as it affects your directors and management team’s responsibilities to your employees.