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4 Dec 2018

Starwood Hotel’s Mega Hack - guest reservation database of 500 Mn compromised Starwood Hotels and Resorts Worldwide, LLC is a subsidiary of US based hotel chain Marriott International.  As per recent news in last week of Nov., 2018, Starwood Hotels has faced cyber hack which was identified by hotel on 19th Nov. 2018 when investigators found encrypted data in an...

24 Nov 2018

Revision of Minimum Rates for STFI Perils we.f. 15/12/2018 Dear All, Premium rating of STFI perils under Fire, Fire Loss of Profit, Industrial All Risk, Annual Engineering and Project Policies was reviewed last time in 2016 and revised guidelines were introduced w.e.f. 1st March 2016. Subsequent to that there have been rise in the number of extreme rain events which...

23 Nov 2018

“Vessel Casualty Report gives details of vessels which have met with some casualty while carrying cargo from one Port to another and which may have resulted in (i) loss/damage to the cargo carried in the vessel or (ii) General Average Loss/Expenditure. Please go through the Casualty Report and check whether your cargo had been carried in any of the vessels mentioned therein and check...

20 Nov 2018

Importance of- P&I club in shipping and Marine Hull Insurance-ITC Hull & P&I Clause. On 8th November 2018, the oil tanker Sola Ts owned by ship-owner Tsakos was involved in a collision with the military vessel Helge Ingstad off the coast of Bergen, Norway. The ship-owner Tsakos is a member of P&I club Britannia, head quartered at London. As per...

13 Nov 2018

NotPetya ransomware cost Merck & Co more than $300 Mn per quarter Brief about Merck & Co, Inc Merck & Co, Inc is an American pharmaceutical company and one of the largest pharmaceutical companies in the world. Headquarters - Kenilworth, New Jersey, United States No of employees – 70,000 plus Revenue – US$ 40 billion plus   Cyber attack –...

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