Gerling Announces Web-Based Oil Cargo Insurance

The U.K. subsidiary of Germany’s Gerling Group announced that it had launched “Oilsure,” an Internet-based trading system for oil cargo insurance with an initial capacity of $50 million, through Lloyd’s syndicate 1206, which Gerling manages.

The system offers 24 hour access to quotations covering shipping and storage, and incorporates ratings on vessels and shipping routes.