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Sarah Clements

Voyage Charter vs Time Charter in Marine Trade: Is There a Difference?
Voyage Charter vs Time Charter in Marine Trade: Is There a Difference? 500 278 James Hallam

Voyage Charter and Time Charter are two types of maritime agreements usually called Charter Parties Agreement (CPA) that govern the transport of goods at sea.

Both are broadly similar, and to decide which type of agreement is suitable for your operations. In this post we will discuss the key differences between Voyage Charter and Time Charter Parties, to help you decide which is right for you.

What is a Voyage Charter?

In shipping, a voyage charter describes an agreement to a vessel for a specific voyage or round-trip between specified ports. The one-off nature of voyage charters means they are commonly used for one-time shipments and occasional shipping requirements.

For example, an oil company taking advantage of an unexpected crash in oil prices may decide to buy more stock than usual and choose a one-off voyage charter for a deep-sea tanker to transport the crude oil from Ras Tanura port in Saudi Arabia to Corpus Christi port in Texas, United States.

A voyage charter is agreed between a shipowner (who provides the vessel) and a charterer (who pays to transport goods). The charterer pays either a lump-sum or quantity-based freight rate to transport the cargo for the specific voyage, as well as the cost of loading and unloading the goods.

When Will Cargo Owners or Shippers Use Voyage Charter Agreements?

  • As a Voyage Charter is a limited short-term contract, they are most likely to be used when there is a low risk of loss.
  • Voyage Charters can be arranged relatively quickly, so Cargo Owners or Shippers often use them to benefit from favourable shipping rates and other opportunities.
  • The flexibility and short-term nature of Voyage Charters also make them a good choice for maritime companies with irregular or ad-hoc shipping requirements.

What is a Time Charter?

While a Voyage Charter only applies for a single voyage, a Time Charter instead applies for a specific amount of time. The shipowner will agree to hire out their vessel to a charterer for a specified period, during which the charterer will have more control over the ship including choosing its schedule, route and cargo handling procedures.   Such feature tend to make time charters more suitable for companies and businesses which ship cargo regularly.

A Time Charter could last for a number of months, or even a number of years. For the length of the agreement, the charterer will either pay a fixed amount or typically a daily rate.

An example could be a gas company who may time charter’s specialist LNG (Liquid Natural Gas) Carrier from the Middle East to Asia.

In a Time Charter Party, the shipowner will retain responsibility for crew management, and for the ongoing maintenance of the ship.

When Will Cargo Owners or Shippers Consider Time Charter Party Agreements?

  • Time Charter Party agreements are usually long-term contracts. Shipowners and charterers may enter into such an CPA when a company needs ongoing access to shipping services.
  • It is common for companies to take out Time Charters when they have frequent and/or several/many shipments or requirements, but they do not have the resources or need to to purchase their own vessel.

Is There a Difference Between Voyage Charter and Time Charter Party Agreements?

Fundamentally, the only difference between a Time Charter and a Voyage Charter Party Agreement is the time for which the CPA apply. Voyage Charter Party agreements only last for a single voyage. Time Charter Party agreements last for a fixed term, which can include multiple voyages.

What Are The Insurance Implications of Voyage Charter and Time Charter Agreements?

  • Time Charter Insurance covers all voyages made by a vessel, or by multiple vessels, during the agreed chartered period. Insurers often provide open cover on a 12-month basis, and charterers will provide a summary of their monthly, quarterly, or annual operations. The insurer will then adjust the charterer’s premiums as necessary at the end of each quarter, or at the end of the policy year.
  • Voyage Charter insurance covers a single vessel for the duration of a single voyage. The charterer will therefore pay a set premium for this single voyage.

Beyond this, whether a Voyage or Time Charterparty insurance for both types of CAP are essentially an enhanced form of Protection and Indemnity Insurance that also includes cover for Hull and Machinery.  Further and if the Charterer is the Cargo Owner during all or part of a voyage, then cover also excludes loss of or damage to their own cargoes.

The policies may also include optional additional covers for:

  • Freight Defence & Demurrage (FD&D), which can cover any legal expenses that arise as a result of disputes, and
  • Bunker Insurance, which covers the loss of Bunkers purchased by the Charterers.

There is a third arrangement, known as a bareboat charter. We will explain the circumstances in which this arrangement may apply, along with the insurance implications, in a future post.

What Liability Insurance Do You Need For Your Voyage?

Take the time to complete our short Charters Liability Insurance Questionnaire.

This will help you understand your operation’s possible exposure to risk, which will help us provide the best package of cover and terms for your voyage.

Or if you want to discuss your requirements in more detail, get in touch with our marine team by calling us on 020 3148 9540 or email info@everardinsurance.co.uk

 

How Common is Tool Theft in the UK?
How Common is Tool Theft in the UK? 500 333 James Hallam

If you work in the construction industry, or if you are any kind of tradesperson, then it is important to understand the risk of tool theft.

In this post we will explore the scale of the tool theft problem in the UK, before sharing some tips for keeping your tools, and your business, safe.

What is the Scale of Tool Theft in the UK?

According to one insurer, tool theft occurs once every 17 minutes in England, Wales, and Northern Ireland. Other reports suggest that at least 110 tools are stolen every day across the UK.

Thieves do not just target construction sites and vans. They also target garages, storage lockups, and even private homes.

Most tool thefts occur at night, and tool thefts tend to increase by 20% throughout the winter months.

However, some tool thieves are so brazen that they will steal tools directly from tradespeople in broad daylight. One carpenter told the BBC that thieves threatened him and his family with violence if he called the police.

What Are The Most Common Areas for Tool Theft in the UK?

Analysis by LBC revealed that nearly half of all reported tool thefts occur in London. Other key hotspots for tool theft include Essex, West Yorkshire, the West Midlands, and Gwent.

Another report suggests that Cambridgeshire is the worst area for tool theft in the UK, followed by South Yorkshire, and Lancashire.

How Much Does Tool Theft Cost the Construction Industry?

One report estimated that tool theft has cost the UK construction industry around £2.8bn.

The Tradespeople Against Tool Theft report revealed that the average cost of an incident of tool theft is £4,470. Nearly 20% of tradespeople who have fallen victim to tool theft lost over £5,000 worth of tools.

How To Deal With and Prevent Tool Theft

  • Brief your staff. If you manage a construction business, or a team of contractors, make sure that everyone understands the risks of tool theft, and the steps they can take to manage the issue.
  • Take extra steps to secure your vehicle. Tool thieves seem most likely to steal tools from parked vans. Invest in extra security for your van, including extra locks, cameras, motion sensors, and location sensors.
  • Take extra care at night. Do not keep tools in your vehicle overnight. Try and park in a well-lit area – ideally on your own driveway, with motion sensors, floodlights, and security cameras.
  • Register your tools. Use a tool inventory app, such as the Tool Register, to keep track of all of your equipment. This way, if you are a victim of tool theft, you will immediately know the value of your loss, which can help with your insurance claim.
  • Mark your tools. Consider applying forensic marking to your most valuable tools, such as with microdots, and labelling your tools as “registered” and “protected”. This might help deter thieves.

Are You and Your Business Covered For Tool Theft?

83% of the tradespeople surveyed for the Tradespeople Against Tool Theft report revealed that, at the time of the theft, they had no insurance in place to cover the loss of their tools. Plus, as tool thieves regularly steal tools from vehicles, 13% of respondents had to pay for vehicle repairs on top of the costs of their lost tools.

Getting the right cover will not prevent tool theft, but it can at least guarantee that, in the event of tool theft, you will be able to replace your tools and get back to work as soon as possible.

James Hallam is an independent Lloyd’s broker with access to a hand-picked selection of A-rated insurance providers. We can help you get the cover you need at a competitive price.

Get in touch to find out how we can help you.

Changes to Insurance Fees and Commission for Managing Agents, Landlords and Freeholders
Changes to Insurance Fees and Commission for Managing Agents, Landlords and Freeholders 500 333 James Hallam

The Leasehold and Freehold Reform Act 2024 received royal assent on 24 May 2024. This post will provide a brief overview of how this new legislation will affect insurance fees and commissions for managing agents, landlords, and freeholders.

Leasehold and Freehold Reform Act 2024 – What Does It Involve?

The Leasehold and Freehold Reform Act 2024 applies to England and Wales, and it is designed to “improve consumer choice and fairness in leasehold”.

The act aims to achieve this through:

  • Making it easier and cheaper for leaseholders to extend their leases or buy their freeholds, whether they live in houses or flats.
  • Increasing the standard lease extension term.
  • Making moves to abolish, or significantly reduce, ground rent.
  • Improving the transparency of service charges, administration charges, and buildings insurance commissions, while giving leaseholders a right to request information about all charges related to the management of their building.

You can read a full guide to the legislation, and its aims.

Open Consultation – Permitted Insurance Fees for Landlords, Freeholders, and Property Managing Agents

The legislation addressed certain longstanding concerns that some landlords, freeholders, and property management agents may be passing on the costs of arranging and managing insurance to their leaseholders, without necessarily justifying or accounting for the work they have undertaken.

In short, some freeholders have been forced to pay significant insurance costs, and have had no power to challenge these costs, or even to properly scrutinise them. There have also been concerns that these costs may include commissions and other financial benefits for landlords, freeholders, and property managing agents that have nothing to do with the services that are allegedly being provided.

The government has launched an open consultation to find solutions to these issues. The aim of the consultation is to ensure total fairness and transparency for any costs associated with the management and arrangement of insurance for leaseholders. Leaseholders should know exactly what they are getting for their money, and they should have the power to challenge any decisions they disagree with.

Insurance Fees for Landlords, Freeholders, and Property Managing Agents – The Current Situation

Landlords, freeholders, and property managing agents are responsible for getting the right insurance in place for the properties they own/manage. Freeholders and property managing agents will usually cover the costs associated with arranging this insurance through charging their leaseholders within their service charges.

It was common for landlords, freeholders, and property managing agents to use insurance brokers to arrange for the necessary property insurance. Brokers work on a commission or fee basis, and they may choose to renumerate landlords, freeholders, and property management agents through giving them a share of their income.

This consultation was launched due to concerns that the current arrangement incentivised landlords, freeholders, and property managing agents to work with insurance brokers that promised the highest commission/income. Such an arrangement would not necessarily provide leaseholders with the best value option.

Meanwhile, leaseholders would be obliged to pay for the entirety of their insurance premiums, which often included any commissions or fees that were shared between brokers and the landlords, freeholders, and property managing agents. Plus, the lack of transparency meant that leaseholders had no power to scrutinise or challenge any decisions made about the insurance they were paying for.

What Could Change Following The Consultation?

  • Landlords, freeholders, and property managing agents will be banned from charging leaseholders any costs beyond a “permitted insurance fee.”
  • Excluded costs are anything related to the arrangement or management of insurance, which includes broker commissions or fees.
  • The consultation proposes secondary legislation to ensure that landlords, freeholders, and property managing agents would only be able to charge leaseholders for insurance services via a separate fee, rather than as part of a variable “service charge”. This would improve transparency, and leaseholders would have the right to scrutinise and challenge any fees they are charged under the provisions of the Landlord and Tenant Act 1985.

How Landlords, Freeholders, and Property Managing Agents Can Prepare For Change?

Are you a landlord, a freeholder, or a property managing agent? Are you wondering how you might prepare for this change?

It might help to get involved in the open consultation. As well as providing an opportunity to share your thoughts, the consultation also includes a number of questions for you to consider. These might help you understand the viability of your current arrangement, along with the steps you may need to take to make your practices more transparent.

If you have any concerns about the future procedure for securing the right insurance for the properties you manage, we are here to help. We are an independent Lloyd’s broker with a dedicated team of experienced insurance professionals. We are committed to getting you the cover you need at a price you can afford, all while delivering the best possible value for your leaseholders.

Get in touch for a free quote today.

Exciting News from Everard Insurance!
Exciting News from Everard Insurance! 1280 720 James Hallam

We are thrilled to announce the launch of our New Personal & Commercial Boat Insurance Product available to brokers, designed to provide comprehensive protection and peace of mind for boat owners. Whether you own a sailboat, motorboat, fishing vessel, or yacht, our tailored coverage options ensure that you can enjoy your time on the water with confidence.

Key Features of Our New Boat Insurance:

  • Hull and Machinery Coverage: Protects the structural integrity and mechanical components of your boat.
  • Liability Coverage: Safeguards you against legal liabilities for bodily injury or property damage to others.
  • Personal Property Coverage: Insures your personal belongings on board.
  • Medical Payments Coverage: Covers medical expenses for injuries sustained on your boat.

Discounts and Incentives:

  • Multi-Policy Discounts: Bundle with other Everard Insurance products for additional savings.
  • No Claims Bonus: Rewards for maintaining a claim-free record.

Why Choose Everard Insurance?

Set sail with confidence knowing that Everard Insurance has you covered. Contact us today to learn more about our new boat insurance product and get a personalised quote!

Or use our online risk capture portal, please find the link below:

Small Craft: Commercial Marine Insurance Form – James Hallam

Small Craft: Private Pleasure Craft Insurance Form – James Hallam

How Travel Agents Can Offer More Sustainable Travel Options
How Travel Agents Can Offer More Sustainable Travel Options 500 220 James Hallam

In late 2024, Booking.com surveyed nearly 28,000 travellers who planned to travel for business or leisure over the next couple of years. Among other things, they asked these travellers about their key priorities when planning trips.

A major priority for many travellers – and one which appears to be getting more important with every passing year – is sustainability.

In another survey, around 75% of travellers said they want to travel more sustainably in 2025.

In this post we will briefly explain what “sustainability” means in travel and tourism, before discussing how travel agents and tour operators can offer more sustainable travel options.

What Makes a Trip Sustainable?

For many, “sustainability” is synonymous with CO2 emissions. The lower the emissions associated with a trip, the more sustainable that trip will be. This can mean travelling shorter distances with a greater reliance on less carbon intensive forms of transport. A train will likely be more sustainable than a plane, for example.

Yet there is more to sustainability than carbon emissions. Sustainability also means taking steps to protect the “essence” of a place, whether that is a unique local character or a fragile eco-system.

So, as well as reducing their carbon footprints, travellers want to tread lightly wherever they visit; to immerse themselves in the local culture while avoiding activities that might in some way compromise the environment or the local community.

How Travel Agents Can Offer More Sustainable Travel Options

Below we will discuss some ways that travel agents and tour operators can offer more sustainable travel options in 2025 and beyond.

Sustainable Travel and Accommodation

Ideally, you could prioritise destinations that your customers could easily reach by more sustainable modes of transport, such as coach or train. Yet to remain competitive in a crowded and fast-moving industry, you will likely always have to sell packages and experiences that will involve air travel.

So, instead of avoiding air travel entirely, aim to only work with airlines that have achieved sustainable certification, such as the IATA Integrated Sustainability Program. Also, remember that direct flights are always better than a series of connecting flights, as planes emit the most CO2 at take-off and landing.

Similarly, when it comes to accommodation, try to avoid the major resorts and hotel chains. Instead, look to the smaller, independent, and boutique accommodation providers – those who are more likely to employ locals and to source their food and other supplies from the local area.

Create Off-the-Beaten-Track Packages and Support Independent Business

“Vintage Voyaging” is a type of travel experience Booking.com predicted will become popular in 2025. This means “embracing a thrifty or vintage mindset when travelling”:

“It’s about immersing yourself in a place’s history and heritage. These trips treat the experience of travelling as a souvenir in itself, with vacationers seeking to enjoy deeper cultural connections with the destinations they visit by rejecting globalised consumerism and choosing to shop locally instead.”

How might a travel agent or tour operator offer such a “vintage voyaging” experience? Through creating packages that will allow customers to travel to emerging “off-the-beaten-track” locations, ideally with lots of independent shops, restaurants, and accommodation options.

Take a look at 10 such sustainable travel destinations the BBC recommended in early 2024.

Get Accredited

If you want to attract the green-minded traveller, then it will help to get accreditation to highlight your commitment to sustainability.

For example, the Global Sustainable Tourism Council (GSTC) offers a certification scheme. If you join the scheme, you can also join the GSTC Market Access Program, a global network of hotels and accommodations that also have certification.

Tailored Support For Tour Operators and Travel Agents

At James Hallam, for over 35 years we have provided dedicated insurance services for travel agents and tour operators. Our tailored services can help you get the cover you need at a truly competitive price.

Find out more about our bespoke insurance services for travel agents and tour operators.

 

Museum Security and Safety Risks
Museum Security and Safety Risks 500 334 James Hallam

Museums face a unique set of security and safety risks. If you manage a museum, it is essential that you take the time to understand the risks you face, so that you can take steps to safeguard your museum, your staff, your exhibits, and your visitors from all possible threats.

What Security and Safety Risks Do Museums Face?

When most people think about museum security, they most likely think about the risk of theft. The British Museum reported stolen artefacts as recently as 2023, while a Swiss museum recently experienced the theft of a £2m Ming vase.

Museums must also contend with health and safety risks for staff, visitors, and other members of the public. The Wirral Transport Museum was recently prevented from reopening due to the discovery of significant “hazardous substances risks”.

In recent years, museums and galleries have also had to contend with acts of vandalism carried out by activists. As well as the possible loss or damage of priceless artefacts, demonstrations from activists may also compromise the safety of other museum visitors. And if an activist harms themselves during their protest, will the museum be held liable?

Beyond this, museums face the same risks that any business or building in the UK must contend with, including, but not limited to:

  • Fire
  • Flood
  • Burglaries – as in, the everyday theft of money or stock, rather than the high-profile theft of exhibits or artefacts.
  • Public liability – if any member of the public slips, trips, or falls while on museum property, the museum may be liable.
  • Product liability – if the museum prepares or sells food on the premises, they may face claims should any member of the public experience food poisoning or allergic reactions having consumed this food.
  • Employer’s liability – in the UK it is a legal requirement to get adequate employer’s liability insurance if you have any employees.

How Can Museums Manage These Safety and Security Risks?

Arts Council England and the Collections Trust have produced a Museum Security Toolkit. This toolkit is designed to help museums understand the unique safety and security risks they may be facing, and to take appropriate action to manage these risks.

The toolkit advises on four steps for managing museum safety and security:

  1. Gather Information – Aim to get as comprehensive a picture as possible of the current measures you have in place to protect your collections, your staff, and your visitors. For this, they recommend an Environmental Visual Assessment (EVA), and a dedicated Museum Security Audit.
  2. Identify Threats – Devise an exhaustive list of all the threats to your collection, your staff, your museum premises, and to your ongoing operations should any of these threats occur. As part of this, they recommend creating and maintaining a good Collections Management System (CMS), to identify any particularly vulnerable objects.
  3. Assess, Plan, and Implement – Assess the likelihood of any possible threats or risks. Plan to manage these risks through either current or improved control measures. Then outline how you will implement these plans, including how you will communicate them across your staff. For this, they recommend using a Risk Awareness Profiling Tool (RAPT).
  4. Monitor and Review – As part of your ongoing management and planning cycles, you should continually review the threats your museum and your collections face, along with your control measures for managing these threats.

Is Your Museum Covered For All Possible Risks?

James Hallam is an independent Lloyd’s broker with access to a hand-picked selection of A-rated insurance providers. We can help you understand the unique risks your museum faces, before arranging for comprehensive insurance to cover your museum, your collections, your staff, and your visitors.

Get in touch for a free quote today.

 

What Kind of Insurance Does a Restaurant Need?
What Kind of Insurance Does a Restaurant Need? 500 334 James Hallam

If you are running a restaurant, or a chain or restaurants, then you no doubt know that you need insurance to cover your business for the range of risks you will face.

Yet there are many different insurance products out there, and not all of them are relevant for restaurants. So, how can you ensure you get the cover you need at the best possible price?

In this post we will explore some of the most important insurance products for restaurants, cafés, pubs, and other businesses that prepare and serve food.

Running a catering van? Take a look at our guide to insurance requirements for mobile caterers.

Types of Insurance for Restaurants

Public Liability Insurance

If a member of the public gets injured on your restaurant premises, public liability insurance can cover any compensation they may be due, along with any associated legal fees. This cover extends to your customers, as well as any other members of the public who may visit your premises, including contractors, delivery drivers, and health inspectors.

Public liability insurance can also cover any loss or damage to customers’ property while they are on your premises – such as if one of your waiters spills a drink on a customer’s clothing.

Product Liability Insurance

Product liability insurance can cover for claims related to the food and drink you prepare and serve on your premises. For example, if a customer has an allergic reaction to your food, or if they fall ill after eating at your restaurant, product liability insurance can cover any compensation they may be due, along with any associated legal fees.

Employer’s Liability Insurance

This is similar to public liability insurance, though rather than providing cover for claims made by members of the public, it covers you for claims made by your employers for any illnesses or injuries they sustain while working at your restaurant.

In UK law, there is a legal requirement to get adequate employer’s liability insurance should you employ any staff.

Contents and Stock Insurance

Business contents insurance can cover your restaurants furniture and equipment if they are lost or damaged as a result of fire, theft, floods, or other incidents. Contents insurance can provide cover for repairs or replacements, as necessary.

Stock insurance can cover your perishable stock for similar losses. But it can also cover for other kinds of situations, such as if your frozen stock goes bad following a power cut to your freezer.

Business Buildings Insurance

This can cover your restaurant premises for necessary repairs following fires, floods, storms, or break-ins.

Business Interruption Insurance

If you are forced to temporarily close your restaurant following an insured event, such as a fire or a flood, business interruption insurance can supplement any lost income, allowing you to stay afloat during your downtime.

All claims are different and we would recommend that you read through your policy documents to ensure you are familiar with the details of the cover you’ve been offered.

How Much is Restaurant Insurance?

The amount you pay for your restaurant insurance will depend on a number of factors, including but not restricted to the following:

  • The level of cover you choose. The more extensive your cover, the higher your premiums will be.
  • Your restaurant’s annual turnover.
  • The number of staff you employ. Some insurers may ask for additional information about your employees, including their ages, so as to determine their respective risk profiles.
  • The rebuild costs of your restaurant premises following a total loss. Insurers will also consider the value of your restaurant’s content and stock.
  • Your physical location. If your restaurant is located in an inner city area, there may be an increased risk of burglary. Also, any restaurants located on flood plains will likely have to pay more for buildings cover.
  • The construction of the premises.

We Can Help You Get All The Cover You Need at a Fair Price

James Hallam is an independent Lloyd’s broker with access to a hand-picked selection of A-rated insurance providers.

We know that no two restaurants are quite the same. So, we will take the time to get to know you, your business, and your customers. This will allow us to design a restaurant insurance package that truly meets your needs at a competitive price.

Get in touch for a free quote today.

What Are The Leading Causes of Fires at Sea?
What Are The Leading Causes of Fires at Sea? 500 334 James Hallam

Fires at sea might not be as common as other risks, but they tend to cost marine companies much more than other types of claims.

According to the 2023 Nordic Marine Insurance Statistics (NoMIS), despite only accounting for 2.7% of all claims, fire and explosion claims accounted for 27% of the total claims cost distribution. This is nearly double the previous year’s figure of 15%.

The latest International Union of Marine Insurance report confirmed that fires are the leading cause of losses at sea, as they have been for the past 10 years.

In this post we will discuss the leading causes of fires at sea, and explore some ways you can safeguard your marine business against this risk.

Where Are Fires at Sea Most Likely to Break Out?

Fires at sea are most likely to break out in areas where fuels and other flammable materials are close to sources of heat.

This might include:

  • Engine rooms
  • Pump rooms
  • Cabins
  • Galleys
  • Boilers
  • Generators
  • Cargo holds and storage spaces
  • Incinerators
  • Chain lockers

According to UK P&I Club, the majority of fires at sea start in ship engine rooms.

What Are The Leading Causes of Fire at Sea?

Most fires at sea start when a flammable substance falls onto a hot surface. In an engine room, this can occur when oils or fuel mists spray onto unprotected hot surfaces. In a cabin room, it could occur when a crew member accidentally leaves an electrical device plugged in, which can lead to overheating and fire outbreaks.

The Allianz Safety and Shipping Review 2023 revealed that the most serious fires can be traced to combustible cargo, which can quickly spread until it overwhelms the crew’s firefighting capabilities. Plus, certain materials may reignite spontaneously even after the fire appears to have been extinguished.

Combustible cargos can include scrap metal and self-heating fuels such as coal and DRI. Fires can start when cargo or containers are damaged or compromised, such as during a storm, or due to bad stowage. Lithium-ion batteries may also overheat and cause fires if they are damaged. This may pose a particular risk for roll-on/roll-off ferries transporting electric or hybrid vehicles.

The Allianz review also suggested that the size of the vessel can determine the severity of the fire. The bigger the ship, the harder it can be for crews to detect fires. By the time crews are able to respond to outbreak, the fire may have already spread too far for them to handle.

Plus, emergency responses and salvage operations become more complex with larger fires on larger vessels, which can make declarations of total loss more likely.

How to Prevent Fires at Sea

  • Stay on top of maintenance and repairs, to prevent the risks of fires breaking out due to faulty wirings, mechanical failures, and electrical issues.
  • Also ensure that your vessel’s fire detection and suppression systems are always in full working order.
  • Provide adequate crew training, and run regular fire drills to ensure that everyone knows what they will need to do in the event of a fire.
  • Also brief your crew on fire prevention measures – i.e. not keeping electrical items plugged in, smoking regulations, correct stowage procedures etc.

Make Sure You Are Covered For Fires at Sea

Everard Insurance Brokers are the specialist marine trading division of accredited Lloyd’s brokers James Hallam Limited. We can help you ensure you have the insurance you need to cover you for fires at sea, including incidents that result in total loss.

Find out more about our dedicated marine insurance services.

Future Trends and Predictions for the Travel Industry in 2025
Future Trends and Predictions for the Travel Industry in 2025 500 310 James Hallam

In this post we will share some of the trends that could shape the travel industry in 2025 and beyond.

No matter what happens in the travel industry over the next 12 months, you can depend on us to get you the cover you need, at the best possible price. Find out more about our specialist insurance services for travel agents and tour operators.

How Will Climate Change Impact the Travel Industry?

In recent years some parts of the world have experienced record high temperatures. This made certain destinations too hot for tourists, while making it difficult for some aircrafts to take off. There have also been numerous extreme weather events, which inevitably impacted the travel and tourism industry.

Will 2025 also see soaring temperatures, heavy rains, flooding, and storms? In any case, travel industry leaders are already anticipating how a changing climate could affect the way we travel.

Travellers could face more risks, and disruptions may become more frequent, and more severe. Plus, travellers may choose to avoid formerly popular destinations to avoid the risks of extreme heat and possible flooding, such as certain continental cities and coastal resorts.

Read our full guide to how climate change may affect tourism destinations.

What Do Customers Want From Their Travel Experiences in 2025?

In late 2024, Booking.com surveyed their customers to get an idea of the sort of trips that might prove popular in 2025. Here are their key travel predictions for 2025:

  • Travellers are increasingly concerned with sustainability. (link to other Jan blog)
  • People are looking for “authentic” experiences. Resorts and package deals may prove less popular than in previous years. Instead, travellers will look for “off-the-beaten-path” experiences, with particular interest in wellness, adventure, nature-based activities, and “nocturism”. That means “nocturnal tourism”, with trips focused on activities that take place at night, such as stargazing.
  • As well as catering to solo travellers and couples of all ages, travel and tourism operators should also deliver travel experiences for the whole family.

Predicted Trending Travel Destinations for 2025

Booking.com also predicted a few trending destinations for 2025:

  • Sanya, China
  • Trieste, Italy
  • João Pessoa, Brazil
  • Tromsø, Norway
  • Willemstad, Curaçao
  • Tignes, France
  • Villajoyosa, Spain

New Opportunities for the Travel Industry from Technology

Technology is revolutionising the travel and tourism industry. According to research from Mastercard, 56% of travel companies are focusing their strategic planning on rising customer expectations for digital user experiences.

What sort of digital trends will reshape the travel and tourism industry in the coming years? AI will mean that automated systems will increasingly replace human interactions. Airlines may turn to biometrics and facial recognition systems in lieu of boarding passes.

Customers will increasingly expect a totally streamlined and personalised experience, where travel companies recognise and meet their needs in real time, ideally without the customer needing to take any actions themselves.

New Cyber Security Risks for Travel Agents

As ever, along with bringing new opportunities, technology also brings a host of new threats. A growing reliance on interconnected digital systems will put travel companies, and their customers, at increased risk of cybercrime. Plus, agencies have warned that cybercriminals are now using AI tools to automatically target and attack businesses.

If you are a travel agent or tour operator, and you have not yet taken steps to secure your systems, make 2025 the year you start taking cyber security seriously. Read our full guide to cyber security for travel agents and tour operators.

We Can Help You Make The Best of the Opportunities that 2025 Will Bring

At James Hallam, for over 35 years we have provided dedicated insurance services for travel agents and tour operators. Our tailored services can help your business stay resilient and competitive, no matter what challenges and opportunities 2025 might bring.

Find out more about our bespoke insurance services for travel agents and tour operators.

Tourism Destinations and the Impact of Climate Change
Tourism Destinations and the Impact of Climate Change 500 334 James Hallam

In this post we will assess how climate change might affect the tourism industry. We will also discuss some precautions you can take as a travel agent or tour operator to safeguard your business and your customers.

When Summer Holidays Become Dangerously Hot

Summer 2023 was one of the hottest in recent memory. Greece had to evacuate over 2,000 holidaymakers as temperatures reached 45°C, and wildfires broke out on the island of Rhodes. Visitors to Rome also chose to end their holidays early due to the heatwave. Meanwhile, many flights were cancelled as aircraft were simply unable to take off in the hot, dense air.

Summer 2024 was not as intense as the previous year. In Athens the July temperatures reached a daily average of around 32°C. In Rome, the daily average temperature in July was around 28°C. Yet there were still concerns about the excessive heat. Athens once again was forced to close schools and some major tourist attractions.

How a Rise in Extreme Weather Conditions Affect the Travel Industry

As well as rising temperatures, some attribute extreme weather conditions to the changing climate. Climate scientists have linked heavy rains, flooding, drought, wildfires, and storms to climate change, all of which will affect the travel and tourism industry.

Certain coastal destinations are also concerned about rising sea levels. According to one University of Cambridge study, around 60% of Caribbean coastal resorts may be at risk of sea level rise.

The Travel Industry’s Carbon Footprint

The World Economic Forum has pointed out that the travel and tourism sector accounts for around 10% of all global greenhouse gas emissions. On top of this, total emissions from tourism are forecast to rise by around 25% by 2030.

It is easy to imagine how governments may penalise travel companies for these emissions, via taxes, fines, and strict regulations. This will increase the cost of doing business, which companies will pass on to their customers. Global travel, then, may become increasingly expensive in the coming years.

What is the Impact of Climate Change on Travel and Tourism?

  • New Tourist Destinations – Tourists may choose to avoid previously popular city locations, such as Athens and Rome, along with coastal resorts where rising sea levels are a concern.
  • New Risks – All travellers may face an increased risk of encountering extreme weather events, such as fires, floods, and storms.
  • More Travel Disruption – It may become more likely that holidaymakers will have to abandon their travel plans as a result of rising temperatures and other risks.

How Can Travel Agents and Tour Operators Prepare For A Changing Climate?

  • Be Flexible – You may not always be able to sell the same packages, and the same destinations, as you do today. Keep an eye on global travel trends so that you can identify the popular new travel destinations as early as possible.
  • Get The Right Cover – Make sure that any travel insurance you provide includes cover for the risks associated with extreme weather events. Plus, if rising temperatures means that holidaymakers will face more cancellations and uncertainty, it is vital that you get cover for supplier failure, and other forms of disruption.

We Can Help You Ensure You Are Fully Covered for Emerging Risks as a Travel Agent or Tour Operator

At James Hallam, we have provided dedicated insurance services for travel agents and tour operators for over 20 years. The global travel agency has changed significantly over the past few decades, but we have always helped our travel and tourism clients stay resilient.

We will take the time to understand your business so we can tailor the best possible travel and tour insurance programme for you and your customers. So if you are concerned about how your industry might be affected by a changing climate, we can help you prepare for any additional risks you might face.

Find out more about our specialist insurance services for travel agents and tour operators.

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