Other areas of specialty include Charterer's Liability, War Risks, Kidnap & Ransom, Marine & War Loss of Hire
, and Drug Delay LOH coverage.
QIC also specialises in aviation and marine risks, including hull, cargo, loss of hire
and marine liability, providing insurance cover for local, regional and international carriers.
In addition to energy, the new syndicate will be covering "marine hull, cargo, loss of hire
, war--the products that our members are seeking and that they're comfortable with," Jacobs said.
Earlier this month, Petrolia Drilling reported that Venture Drilling was in talks with Maersk Oil Angola AS on changes in the drilling contract for the vessel, stating that Maersk Oil has no legal ground for making early redelivery without paying compensation for loss of hire
to January 2011, when the contract expires.
Frontline ") has agreed to an early termination of the time charter out contracts on the two OBO carriers, Front Viewer and Front Guider, and will receive a compensation payment in December 2012 from the charterers for loss of hire
due to the early termination of approximately 34.
Maersk has informed that the present operations will continue until late April 2010, Petrolia Drilling said, repeating it considers that Maersk Oil has no legal ground for making early redelivery without paying compensation for loss of hire
payment to January 2011, when the contract expires.