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Morten Engelstoft has been elected as the new chairman of liability insurance provider to the international cargo and logistics industry TT Club with the retirement of Ulrich Kranich. Engelstoft spent 36 years at Maersk, from where he retired in June 2023 as chief executive of APM Terminals.
He commented, “TT Club remains the foremost specialist insurance provider to the majority of container shipping lines, a substantial number of terminal operators and ...
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There has been a dramatic year-on-year increase in freight crime in Chile in 2022, with thefts up 27% up on pre-pandemic levels, according to analysis by TT Club and business improvement consultants BSI Screen.
There has been a 450% increase in the frequency of insurance claims in 2022 and over half ...
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Insurer TT Club has TT Club promoted underwriters Luise Doyle and Yee Lin Chan. Luise Doyle becomes regional general manager EMEA, having worked her way up from Underwriting Assistant in 1990. Yee Lin Chan takes over as head of TT’s London Market Underwriting team following her return from maternity leave ...
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Freight and logistics insurer TT Club has announced two new appointments to senior positions as part of its planned succession programme. Kevin King has been promoted from chief operating officer to deputy chief executive officer with Mark Argentieri taking his former role. Both King and Argentieri have been working closely ...
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Fraud is the biggest threat to cargo, says insurer the TT Club.
The Club says that the almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits including payment fraud that involves existing mandates and impersonation of executives to procurement fraud featuring false invoicing.
Carrier fraud, ...
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The latest issue of freight transport insurer TT Club’s StopLoss newsletter unravels the mysteries of General Average.
Produced in collaboration with forwarder’s association, FIATA and the Global Shippers Forum (GSF), the publication provides a straightforward summary of the topic, along with essential good practice advice.
While General Average is widely used and is as old ...
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TT Club is calling for everyone in the supply chain to take responsibility for container ship fires. With serious fires occurring every 60 days on average, the freight and logistics insurer is once more urging a more comprehensive approach to halting the trend.
“There were significant lessons coming from the sad ...
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Freight transport insurer TT Club has signed up to the United Nations Principles for Sustainable Insurance (PSI), a global framework for to address environmental, social and governance (ESG) risks and opportunities. PSI is a global, collaborative initiative that strengthens the industry’s contribution as risk managers, insurers and investors to building ...
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EeLain Ong has taken over as chief financial officer (CFO) of international freight transport and logistics insurer TT Club. Appointed in April 2022, she has shadowed outgoing CFO Julian Chowdhury prior to his retirement. In addition to roles at insurance providers, Ong also had experiences as a regulator, an auditor, ...
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Freight transport insurer TT Club is calling for increased vigilance after a spate of fires involving lithium batteries in seafreight. With the number of consumer products using such batteries increasing exponentially and new restrictions on the airfreight for such goods coming into force on 1 April, greater volumes are being ...
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