Marine Insurance
Marine insurance is experiencing a period of rapid change, with a prolonged struggle to deliver underwriting profit forcing companies to reevaluate their proposition and the need to modernise. The class of business on which Lloyd’s was founded, the marine market is now navigating through a transitional period as it embraces technological reform and looks to rebuild its profit margin against a challenging operational backdrop.
Tankers clock up steepest rise in marine insurance costs
Data from Baltic Investor Indices points to broadly steady market for past four quarters, but limited increases for some vessel types
Shipowners’ Club holds steady at 2024 renewal
Breakeven underwriting result and ‘excellent’ investment return means marine mutual is in ‘very good health’, insists chief executive, Simon Peacock
The insurance industry should keep an eye on Red Sea attacks
While the Houthi attacks in the Red Sea are being managed there is a real risk to the global supply chain
Middle East tensions fail to move dial on war risk rates
MSC Aries hijack and Iranian missile onslaught see little impact on Red Sea premiums and small hardening on Gulf trips
Dual acquires Swiss Re’s Genoa-based marine team
Managing general agent expands its European marine business, adding to operations in Italy and the Netherland
Allianz promotes Soja to global head of marine
Insurance giant elevates head of inland marine
BHSI enters US ocean marine market
Global commercial insurers hires Ascot’s Ben Wyatt to lead the new team
Howden launches Red Sea cargo war facility
The facility offers up to $50m of cover against drone and missile strikes from Yemini-based militia groups
Argo taps Markel for head of inland marine
Julie Saunders joins Bermuda-based specialty carrier
Ship interests succeed in constructive total loss claim
Commercial Court finds for claimants under a war risk policy in relation to a ship detained in Indonesia
Baltimore bridge collapse owners’ liability limitation bid set to succeed
Incident is likely to reignite the debate on the principle of limitation of liability, which shipowners enjoy to an extent that would be the envy of any other sector
Cytora partners on marine trade data
Insurtech unveils partnership with trade data company TradeAtlas
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