Hull

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…

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…

Big Fish

Big Fish: Four Boats, Three Ownership Entities, Three Docking Locations

In the high-net-worth stratosphere, owning four autos is not unusual. What is unusual is owning four different types of boats under three different ownership entities (personal, corporate and LLC), docking them in three locations (Florida, Montana and the Bahamas) and flagging them in two different countries (U.S. and the Cayman Islands). In this case, the…