Posts Tagged: marine insurance

Global insurer Munich Re, parent company of Roanoke Underwriting, earlier this month released a review of 2017’s natural catastrophes. Hurricanes Harvey, Irma and Maria, along with Mexico’s severe earthquake and other disasters, are estimated to cost the insurance industry a record $135 billion. Add to this uninsured losses, and the cost for overall losses is… Read More

Two years ago this past October 1, in the face of Hurricane Joaquin’s 150-mph winds, 40-year-old cargo ship El Faro went down, sinking 15,000 feet of water to the sea floor near the Bahamas and killing 33 people on board. The worst maritime disaster for a U.S.-flagged vessel since 1983, the El Faro was one… Read More

Freight costs have spiked in the wake of Hurricane Harvey, which decimated Houston and the surrounding region. As businesses reopen and look to stock their shelves, many shippers are experiencing significantly higher rates. For example, according to online load board DAT Solutions LLC, the cost to hire a tractor-trailer to move freight from Dallas to… Read More

Proper supply management is essential to the success of many large businesses. Part of the supply management process involves taking the time to carefully screen suppliers to meet client demands for on-time deliveries and competitive rates. It also involves, according to a recent article in Global Trade, suppliers offering a streamlined invoice-to-cash process that reduces… Read More

The shipping industry, which has faced several challenges over the last several years, including overcapacity, price wars and freight rates below break-even levels, is now showing signs of recovery, according to a recent article in the Wall Street Journal. Due to an improving global economy, industry executives and analysts indicate that the worse may behind… Read More

Online shopping has transformed the way consumers purchase everything from electronics to clothes, toys and a host of other goods. It has also impacted the way retailers are doing business. Instead of stocking their stores up with merchandise, they are housing more goods in warehouses in order to quickly ship to stores or fulfill online… Read More

Just as we did with the airline industry, we are now seeing new alliances and mergers being formed within the global shipping industry. For shipping carriers there are benefits to partnering up, including the ability to share vessels, networks and ports of call, streamlining their operations and saving millions of dollars. But what does it… Read More

When the United Kingdom (UK) voted to leave the European Union (EU) last month, shockwaves reverberated from across the pond to here in the United States, including in the global supply chain industry and insurance markets. However, leaders of the London commercial marine market were quick to calm fears, with John Nelson, chairman of Lloyd’s,… Read More

Since 2008, Roanoke Underwriting has provided commercial marine insurance to agents and brokers underwritten by The Watkins Syndicate (Syndicate 457 at Lloyd’s). We are pleased to announce that The Watkins Syndicate and its Managing Agent, Munich Re Underwriting Limited, has been renamed as Munich Re Syndicate Limited. Backed by the globally renowned Munich Re, Munich… Read More