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HULL INSURANCE
Shipowners seek clarity on Strait of Hormuz deal as 600 vessels eye exitShipowners and traders are cautiously awaiting details on a potential reopening of the Strait of Hormuz, a vital oil and gas route disrupte...- India’s shipping services to East Hormuz and Red Sea doubled from FebruaryShipping routes East of Hormuz and in the Red Sea have seen a significant increase in services. The Indian government is also processing a ...
- Will provide insurance to all vessels coming to or going from India: DFS Secretary NagarajuIndia has launched its own maritime insurance pool. This initiative aims to support Indian maritime trade. Vedanta Sterlite, Balrampur Suga...
- Cabinet clears Rs 12,980 crore maritime insurance pool to cut costsIndia is launching the Bharat Maritime Insurance Pool, backed by a substantial sovereign guarantee of over ₹12,980 crore. This strategic in...
- Cabinet approves ₹12,980 crore sovereign-backed maritime insurance poolThe Union Cabinet, chaired by Narendra Modi, on Saturday approved a Sovereign Maritime Fund to provide insurance cover for Indian-flagged, ...
- Cabinet meeting key decisions: Maritime insurance pool, DA hike for 1.18 crore government staff, new rail corridor among othersThe Union Cabinet has approved significant decisions impacting infrastructure and social security. A new Bharat Maritime Insurance Pool wil...
- Ministries meet to put a cover on ships in war zoneIndian ministries are creating a sovereign-backed insurance plan. A $100 million Bharat Marine Pool is being formed by insurers to cover sh...
- On a War-footing: Reinsurers move to rework marine, aviation policies as West Asia tensions riseGlobal reinsurers are reviewing war risk insurance for ships and planes due to rising tensions in West Asia. Strait of Hormuz is now seen a...
- IndiGo's insurance premium likely to rise, in single digitsIndiGo Airlines may see a rise in aviation insurance costs. This follows a recent Air India accident and a tougher reinsurance market. Spic...
- Air India crash may trigger over ₹1,000 crore in insurance claims, likely to be India’s biggestA recent Air India Boeing 787 Dreamliner crash near Ahmedabad, resulting in over 240 fatalities, is projected to trigger insurance claims e...
- Insurance industry joins push to decarbonise global shippingDecarbonisation is the need of the hour and can be achieved by using alternative fuels or focusing on renewable energy sources.
- Caught in Indo-Pak crossfire, insurers consider raising hull, marine premiumThe rate of both marine and hull are reinsurance market-driven, while war risk is generally associated with cross-border operations, foreig...
- Airlines' insurance costs shoot up globally after a spate of accidentsWhile the cost of personal cover insurance is still under control, war and hull insurance costs have shot up.
- Vistara pays Rs 5 crore to New India Assurance for insurance coverThe national carrier has a fleet of 132 aircraft - 108 with itself and 24 with its two subsidiaries - Air India Express (17) and Alliance A...
- Air India renews insurance for $26.75 million at 15% premiumAccording to sources, the demand was for 25 per cent hike over the existing premium but insurers had to eventually come down to 15 per cent.
- Air India’s insurance contract up for renewal on October 1 for an estimated $25 millionAir India’s current insurance policy, issued by New India Assurance, includes a $9.5-bn hull cover and a combined single liability of $1.5 ...
- Air India invites bid for insurance of 105-aircraft fleetAir India today invited bids from Indian companies for renewal of insurance for its entire 105- aircraft fleet worth a whopping nine billio...
- General insurers' premium income from marine hull, aviation policies sees muted growthGeneral insurers' premium income from marine hull and aviation policies grew less then 5% in fiscal 2011-12 due to a slowdown in expansion ...
- AI to get $20 mn towards Mangalore crash insurance claimsNational carrier Air India is likely to get about $ 20 million (close to Rs 90 crore) this week towards the final installment of insurance ...
- Competing insurers help cut cost for shipping companiesIncreasing competition among insurance players has helped to reduce the outgoings of Indian ship owners and shipping companies, whose marin...
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