Vessel Destination: EUROPE “DUZGIT ENDEAVOUR” - IMO:9581007 – Flag: Turkey – Type: Tanker On January 24, the "Düzgit Endeavour" allided with the gate III of the great southern lock of the Kiel Canal in Brunsbüttel upon entering the lock. The bulbous bow hit the rubber fender at the inner side of the gate. The holding device of the rubber strip...

Creating Deceitful Instructions causing Financial Losses: US based Cyber Insurer giant, Beazley Group witnessed a 400% increase in reporting of claims by the policyholders after the attackers created misleading information and in turn the policy holders faced financial losses ranging from a few thousand dollars to $3 Million in the year 2017. Unfortunately the trend of reports has been on...

“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...

CYBER LOSSES AND ITS SOLUTION-CYBER INSURANCE: On 27 th June 2017 “Not Petya” Cyber attack had caused significant direct financial loss and business interruption loss to dozens of firms. “Not Petya” is a destructive virus that spread quickly across computer networks, crippling computers by encrypting hard drives so that machines cannot run. The attack caused massive disruptions to the industrial...

Businesses in 2018 will face profound uncertainty because of the increasingly personalized and assertive style of national leaders whose decisions are hard to predict, warns Control Risks, the global specialist risk consultancy. Here are the top five business risks it has identified for this year: Global risks 1) North Korea escalation War on the Korean peninsula is unlikely, but while the...