Taiwan’s Maritime and Port Bureau has announced that vessels insured by four specific insurers—Ascent General Insurance, Edinburgharian PANDI Management Limited, Polaris Insurance Co., and Arsenal Insurance Company—will be barred from entering the country’s international commercial seaports starting 24 November 2024.
According to the bureau, these insurers have shown a passive attitude in responding to maritime incidents involving their insured vessels, leaving critical liability issues unresolved. The ban will apply to all ships newly insured or renewing policies with these companies after the specified date. Vessels with pre-existing policies will undergo thorough insurance scrutiny before entry is permitted.
The decision aims to protect national interests and ensure port safety following the insurers’ failure to address shipwreck-related claims adequately.
The policy follows a history of concerns over maritime safety and insurance coverage. According to the Taipei Times, in recent legislative discussions, Chinese Nationalist Party (KMT) Legislator Jonathan Lin called for systemic reforms, citing inadequacies in current insurance practices, such as insufficient coverage for stranded ship removal. Lin argued that insurers must meet higher standards, including certification from reputable entities like QBE Insurance, and that foreign vessels should undergo stricter, quarterly inspections.
These calls for reform come after the government of Taiwan was scrutinized for the way it approached the issue with the Chinese cargo ship Yu Zhou Qi Hang, which was stuck off the country’s northeast coast before Super Typhoon Kong-rey made landfall on Oct. 31.
The bureau’s stance against unresponsive insurers aligns with prior measures. East of England P&I Association Ltd and Hydor AS were previously designated as unwelcome insurers in 2021 and 2022, respectively.
