Damage and Marine - Insurance Industry Brief

Finland Power Grid Operator Asks Court to Seize Oil Tanker Over Cable Damage

Insurance Journal

JANUARY 3, 2025

Finland’s national power grid operator said on Thursday it had asked a Helsinki court to seize the Eagle S oil tanker in a bid to secure the company’s claim for damages related to the breakdown of the undersea Estlink 2 …

Damage

Damage Claim Protection Liability Insurance

Sweden Seizes Ship Suspected of Sabotage in Baltic Sea

Insurance Journal

JANUARY 27, 2025

Sweden detained a vessel suspected of damaging a subsea data cable connecting it with Latvia, the third such incident in the Baltic Sea in the past three months. The Security Service said it’s conducting a preliminary investigation into the crime …

Crime

Crime Damage Protection Liability Insurance

Fire-Damaged Cannabis Grower Loses $1.3 Million Business Income Loss Claim

Insurance Journal

JANUARY 22, 2025

million in claimed business income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms. A cannabis growing company has lost its bid to have its insurer cover $1.3 A federal …

Damage

Damage Claim Building Business Interruption

Oil Tanker Linked to Subsea Cable Damage Has Serious Deficiencies, Finland Says

Insurance Journal

JANUARY 8, 2025

Finland’s public transport agency said on Wednesday that an oil tanker suspected of damaging undersea cables in the Baltic Sea has been found to have serious deficiencies and will not be allowed to operate until repairs have been made. Baltic …

Damage

Damage Protection Liability Insurance Risk

Lock damaged on Kiel Canal

Insurance Marine News

JANUARY 5, 2025

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Damage

Damage Marine Insurer Insurance

Russia’s Rostelecom Says Baltic Sea Cable Damaged, Tass Reports

Insurance Journal

FEBRUARY 10, 2025

A Russian underwater cable in the Baltic Sea has been damaged by an unspecified external impact, Tass reported on Saturday, citing the telecommunications provider PJSC Rostelecom. Restoration work is underway and the incident has had no impact on subscribers so …

Damage

Damage Protection Liability Insurance Risk

Bayesian’s builder has lawyers investigating possible reputational damage

Insurance Marine News

SEPTEMBER 24, 2024

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Damage

Damage Marine Insurer Insurance

Yemen’s port infrastructure badly damaged in recent attacks

Insurance Marine News

JANUARY 23, 2025

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Damage

Damage Marine Insurer Insurance

Israeli airstrike on Yemen port damages vessels

Insurance Marine News

JANUARY 13, 2025

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Damage

Damage Marine Insurer Insurance

Captains of ships damaging seabed infrastructure should be sanctioned, Polish minister says

Insurance Marine News

FEBRUARY 10, 2025

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Damage

Damage Marine Insurer Insurance

Stricken Oil Tankers Show Risks of Russia’s Aging ‘Shadow Fleet’

Insurance Journal

DECEMBER 16, 2024

Russian authorities sought to limit the damage on Monday from oil spilled into the Kerch Strait by two aging tankers that were damaged during a heavy weekend storm, highlighting the environmental and insurance risks of Russia’s “shadow fleet.” ” One crew …

Risk

Risk Damage Insurer Insurance

Finland Finds Anchor Drag Marks Left by Tanker That Broke Cables

Insurance Journal

DECEMBER 31, 2024

Finnish authorities investigating damage to subsea power and data cables found drag marks on the seabed likely left by the anchor of seized tanker Eagle S. Working under water, “we have been able to identify the dragging track at the …

Damage

Damage Liability Insurance Risk Marine

Baltic Sea Cable Cuts Can’t Be Accident, EU Tech Chief Says

Insurance Journal

JANUARY 14, 2025

The European Union’s new digital chief, Henna Virkkunen, suggested the repeated damage to undersea cables in the Baltic Sea couldn’t be fully accidental, as leaders from the region prepare to gather for a NATO summit devoted to the topic. “It …

Damage

Damage Protection Liability Insurance Risk

Finland’s Elisa Says Baltic Undersea Cables Were Torn Apart by External Force

Insurance Journal

JANUARY 6, 2025

Two undersea telecommunications cables that were damaged in the Baltic Sea on Dec. 25 appeared to have been torn apart by a strong external force, Finland’s Elisa said on Monday, adding that they had now been repaired. Baltic Sea nations …

Damage

Damage Protection Liability Insurance Risk

Sweden Probe Into Broken Cable Advances as Seabed Study Winds Up

Insurance Journal

NOVEMBER 22, 2024

Sweden’s Navy completed a survey of the seabed near one of the damaged data cables in the Baltic Sea as the Nordic country investigates potential sabotage against the underwater infrastructure. A high-speed fiber optic cable connecting Finland and Germany was …

Damage

Damage Liability Insurance Risk Marine

Another Baltic Sea cable damaged; ship detained

Insurance Marine News

JANUARY 27, 2025

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Damage

Damage Marine Insurer Insurance

Third Tanker Sends Distress Call as Oil Washes Up on Russia’s Black Sea Coast

Insurance Journal

DECEMBER 18, 2024

Spilled oil has washed up along “tens of kilometers” of the Russian Black Sea coast after two tankers were badly damaged in a storm at the weekend, a regional official said on Tuesday, and state media said a third ship …

Damage

Damage Marine Liability Insured

Bulk carrier damaged in incident on Parana River

Insurance Marine News

SEPTEMBER 2, 2024

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Damage

Damage Marine Insurer Insurance

Russian nuclear icebreaker bow damaged after collision

Insurance Marine News

JANUARY 29, 2025

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Damage

Damage Marine Insurer Insurance

Cargo vessel damaged after running aground off Norway

Insurance Marine News

FEBRUARY 6, 2025

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Damage

Damage Marine Insurer Insurance

Second ship seized after latest Baltic Sea cable damage

Insurance Marine News

FEBRUARY 2, 2025

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Damage

Damage Marine Insurer Insurance

Serious weather damages contents of Explorer Of The Seas

Insurance Marine News

NOVEMBER 25, 2024

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Damage

Damage Marine Insurer Insurance

Antigua-flagged vessel damaged in Odesa after Russian attack

Insurance Marine News

SEPTEMBER 22, 2024

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Damage

Damage Marine Insurer Insurance

Taiwan detains vessel on suspicion of undersea cable damage

Insurance Marine News

FEBRUARY 25, 2025

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Damage

Damage Marine Insurer Insurance

Crane collapse at Paradip Port injures operator, damages cargo vessel

Insurance Marine News

OCTOBER 14, 2024

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Damage

Damage Marine Insurer Insurance

Damaged tankship given three months to remove port from Ust-Luga

Insurance Marine News

FEBRUARY 12, 2025

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Damage

Damage Marine Insurer Insurance

German and Swedish Coast Guards arrive near cable damage suspect vessel

Insurance Marine News

NOVEMBER 25, 2024

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Damage

Damage Marine Insurer Insurance

EU in talks to fund fleet to repair damaged subsea cables

Insurance Marine News

FEBRUARY 19, 2025

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Damage

Damage Marine Insurer Insurance

Sweden Investigates Possible New Breach of Baltic Sea Cable

Insurance Journal

FEBRUARY 21, 2025

Sweden is investigating a possible breach of an undersea cable off the country’s southwestern coast in the Baltic Sea, the coastguard said on Friday, in an area where multiple seabed cables have been damaged in recent months. The Baltic Sea …

Damage

Damage Risk Marine Insurer

US Appeals Court sets aside $440m Havana damages award against cruise lines

Insurance Marine News

OCTOBER 24, 2024

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Damage

Damage Marine Insurer Insurance

Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

Distinguished

MARCH 20, 2025

Unlike single-family homes, apartment complexes face heightened risks damage from one unit can quickly spread to others, liability claims can stem from common areas, and evolving building codes can demand costly upgrades. The court awarded her a staggering $13 million in damages.

Building

Building Protection Damage Liability

Stena Line updates on Holyhead port damage: Full July 1st reopening is the target

Insurance Marine News

FEBRUARY 18, 2025

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Damage

Damage Marine Insurer Insurance

Insurance Considerations When Expanding Your Business to a New Location

Mark Jackson Insurance Agency

MARCH 19, 2025

Without the right coverage, unforeseen challenges—such as property damage, employee injuries, or legal issues—could put your investment at risk. Key policies to review and update include: Commercial Property Insurance to protect your new location against physical damage from fire, vandalism, theft, or natural disasters.

Workers Compensation

Workers Compensation Liability Property Damage Inland Marine Insurance

Insuring Collectibles in New York

Distinguished

FEBRUARY 10, 2025

Whats Covered The policy covers a wide range of risks for direct physical damage, including fire and theft, under an all-risk policy structure with broad coverage. Specific hazards, typically on a location basis, may be restricted, like water damage for flood-prone areas or basement and first-floor storage.

Broker-Agent

Broker-Agent Insurer Insurance Insured

Question on an ISR extension of coverage

Prof. Allan Manning

MARCH 11, 2024

Emphasis mine] The reason is that without this extension of coverage the Insurer only has to reinstate that part of the property which is damaged or destroyed. I want to stress that the endorsement only applies if the Insured is forced to relocate ABANDONED UNDAMAGED PORTION OF A BUILDING.

Building

Building Damage Premium Risk

Ammonium nitrate vessel parks off Margate

Insurance Marine News

SEPTEMBER 26, 2024

Bulk carrier Ruby (IMO 9626390), which caused concerns in Tromsø, northern Norway after it reported rudder damage and then was discovered to be carrying a large amount of ammonium nitrate on board, and which was then barred from getting repairs in Klaipeda unless it unloaded its cargo first, was yesterday at anchor off Margate, south-eastern.

Damage

Damage Marine Insurer Insurance

Environmentalists block port of Marseille

Insurance Marine News

SEPTEMBER 25, 2024

The protestors were highlighting what they said was the environmental damaged caused by the cruise ship industry, which many of them want to be abolished. The post Environmentalists block port of Marseille appeared first on Insurance Marine News. About 20 people from an environmental group calling itself.

Damage

Damage Marine Insurer Insurance

Superyacht crashes into dock in Tunisia

Insurance Marine News

OCTOBER 16, 2024

The 86-metre yacht Kingdom 5-KR (IMO 1002213), belonging to Saudi Prince Al-Waleed bin Talal, was reported to have suffered significant damage after it crashed last Friday October 11th into a dock at Bizerte Marina in Tunisia. The post Superyacht crashes into dock in Tunisia appeared first on Insurance Marine News.

Damage

Damage Marine Insurer Insurance

Russia is now main suspect in Yi Peng 3 Baltic Sea cable incident

Insurance Marine News

DECEMBER 18, 2024

Chinese bulk carrier Yi Peng 3 (IMO 9224984) remains at anchor near to the Kattegat Strait a month after the C-Lion 1 and BCS East-West Interlink cables in the Baltic Sea were damaged. The post Russia is now main suspect in Yi Peng 3 Baltic Sea cable incident appeared first on Insurance Marine News.

Damage

Damage Marine Insurer Insurance

BOATING INSURANCE WITH CHUBB

Boyle Agency Insurance

JUNE 30, 2024

Top Insurance Carrier – Best Coverage Bogle Agency Insurance offers Chubb Masterpiece Recreational Marine Insurance to NJ clients who own boats. Making your recreational marine experiences stress-free is our goal and we feel that boating insurance with Chubb is the best way to manage that.

Insurer

Insurer Insurance Insured Damage

Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Distinguished

OCTOBER 15, 2024

This could be the contractor, developer, or property owner, depending on who stands to suffer a financial loss if the property is damaged during construction. In this case, the owner is covered for the physical damage to the property (e.g., damage to the structure under construction).

Policy

Policy Risk Broker-Agent Liability

Preparing for Hurricane Season

Bankers Insurance

MAY 8, 2024

Hurricanes are capable of producing winds in excess of 155 mph and causing catastrophic damage to coastlines and several hundred miles inland. Additionally, hurricanes can also lead to storm surges along the coast and cause extensive damage from heavy rainfall. This will reduce roof damage. Inspect your home for damage.

Damage

Damage Building Insurance Agents Insurance Agent

Key Strategies for Protecting Your Collection

Distinguished

OCTOBER 31, 2024

Notify your insurer and broker as soon as possible, detailing how, when, and where the loss occurred and what property may be damaged. Insurance companies often have resources that can be dispatched immediately to help mitigate the damages and prevent additional losses. Take all reasonable steps to protect yourself from further damage.

Protection

Protection Broker-Agent Inland Marine Broker

Does Builder’s Risk Coverage Differ for Residential vs. Commercial Construction Projects?

Distinguished

OCTOBER 30, 2024

While Builder’s Risk policies for both types of projects offer similar coverage, such as insuring for damage to the structure from fire, theft, and other covered perils, there are important distinctions between residential and commercial coverage. Limits of up $20 million are available, depending on the construction type and state.

Commercial

Commercial Risk Broker-Agent Building

Finland Power Grid Operator Asks Court to Seize Oil Tanker Over Cable Damage

Sweden Seizes Ship Suspected of Sabotage in Baltic Sea

Trending Sources

Fire-Damaged Cannabis Grower Loses $1.3 Million Business Income Loss Claim

Oil Tanker Linked to Subsea Cable Damage Has Serious Deficiencies, Finland Says

Lock damaged on Kiel Canal

Russia’s Rostelecom Says Baltic Sea Cable Damaged, Tass Reports

Bayesian’s builder has lawyers investigating possible reputational damage

Yemen’s port infrastructure badly damaged in recent attacks

Israeli airstrike on Yemen port damages vessels

Captains of ships damaging seabed infrastructure should be sanctioned, Polish minister says

Stricken Oil Tankers Show Risks of Russia’s Aging ‘Shadow Fleet’

Finland Finds Anchor Drag Marks Left by Tanker That Broke Cables

Baltic Sea Cable Cuts Can’t Be Accident, EU Tech Chief Says

Finland’s Elisa Says Baltic Undersea Cables Were Torn Apart by External Force

Sweden Probe Into Broken Cable Advances as Seabed Study Winds Up

Another Baltic Sea cable damaged; ship detained

Third Tanker Sends Distress Call as Oil Washes Up on Russia’s Black Sea Coast

Bulk carrier damaged in incident on Parana River

Russian nuclear icebreaker bow damaged after collision

Cargo vessel damaged after running aground off Norway

Second ship seized after latest Baltic Sea cable damage

Serious weather damages contents of Explorer Of The Seas

Antigua-flagged vessel damaged in Odesa after Russian attack

Taiwan detains vessel on suspicion of undersea cable damage

Crane collapse at Paradip Port injures operator, damages cargo vessel

Damaged tankship given three months to remove port from Ust-Luga

German and Swedish Coast Guards arrive near cable damage suspect vessel

EU in talks to fund fleet to repair damaged subsea cables

Sweden Investigates Possible New Breach of Baltic Sea Cable

US Appeals Court sets aside $440m Havana damages award against cruise lines

Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

Stena Line updates on Holyhead port damage: Full July 1st reopening is the target

Insurance Considerations When Expanding Your Business to a New Location

Insuring Collectibles in New York

Question on an ISR extension of coverage

Ammonium nitrate vessel parks off Margate

Environmentalists block port of Marseille

Superyacht crashes into dock in Tunisia

Russia is now main suspect in Yi Peng 3 Baltic Sea cable incident

BOATING INSURANCE WITH CHUBB

Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Preparing for Hurricane Season

Key Strategies for Protecting Your Collection

Does Builder’s Risk Coverage Differ for Residential vs. Commercial Construction Projects?

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