Dear Readers, Greetings from Beacon!!! As a part of our continuous communication for our clients, we are continuing it with reference to  recent  Baltimore incident and its probable impact on various line of insurance products like Marine cargo, Marine Liability, Business Interruption losses etc. This incident is a perfect example of how a single maritime incident  can trigger multi-dimensional aspects...

Dear Client, Greetings from Beacon!!! As a part of our continuous communication we feel immense pleasure to keep you updated regarding your marine cargo policy. We would like to inform you about a recent incident which may further provoked General Average declaration by Its Ship-owner. On Tuesday, 26.03.2024, the 9,000 T.E.U ship DALI crashed into a support pylon of the...

Dear Patron, It is pertinent to note that vide notification issued in the year 2006, tariff has been in force for Fire, LOP and Engineering class of insurance with respect to WORDING including general regulations, conditions, clauses, policy wordings etc. BUT other than those relating to premium / premium rating. The pricing part was only de-tariffed and currently pricing is...

Dear Clients, Greetings from Beacon Insurance Brokers Private Ltd. Looking to the ongoing escalation in Red sea and Gulf of Aden, Cargo insurers have come up with notification regarding cancellation of War, SRCC, Hijacking and Piracy risks. Please refer to the below circular: Circular It is advisable to connect in case of any ambiguity or query.

Dear Client, Greetings from Beacon Insurance Broker!!! We are continuing to our previous communication in regard to Israel-Palestine conflict. Where we had conveyed regarding probable impact on our Marine cargo policy in future. We would like to inform you that War & Srcc cover under marine cargo policy has been withdrawn W.e.f 20/10/2023 by some of the insurers (HDFC, ICICI,...