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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.

Marine

Gap between Black Sea and Red Sea war risk rates is narrowing

The Russian, Ukrainian and Belarusian war risk exclusion justified earlier differential, but comparative loss records have seen reassessment of risk

Ukraine Yemen

Spyware-on-sea: how insurers can protect maritime infrastructure

Cyber attacks on the global merchant fleet are rising and shipping companies need better defences and bigger insurance policies

International Cyber

Generali leads slip on Red Sea suezmax blaze cargo

Total loss could double rates for cargo war risk across region, sources say

Yemen London

No payout from oil industry clean-up scheme in event of Sounion spill

Matter rests with war risk insurers, International Oil Pollution Compensation Funds confirms

Yemen Lloyds

Brit’s Keel consortium has 100% line on Red Sea blaze tanker

London underwriters expect rates to move after Houthis set fire to Sounion

Yemen Gard

Marine mutuals can be insurers of choice for offshore green hydrogen: London Club

No historic data, but pricing a new vessel type will be pretty much like pricing any other gas carrier, argues underwriting director, Reto Toggwiler

International Specialty

Industry cannot handle lithium-ion batteries alone: UK Club

Research and collaboration needed to identify how new risk is shaping up, marine mutual argues

International Specialty

Marsh launches port blockage facility

London market-backed facility addresses growing frequency of port blockages impacting international trade

London Marsh

US lawmakers bid to hike liability limits tenfold for other flags

Move from Congressional Democrats intended to apply retrospectively, with major implications for marine insurers on the hook for Baltimore bridge collapse

US States Marine

Fidelis syndicate 3213’s launch is a vote of confidence in marine

Fidelis is working with managing general agent Navium, including sharing pricing data

London Lloyds

No panic from reinsurers on Baltimore bridge incident: Gallagher Re

‘This was a marine loss, not a black swan event. A ship had an accident and I don’t think it’s going to have the impact people who don’t know the market are expecting,’ Cudlipp argues

International United States

QBE names Lascelles director of marine underwriting

Lascelles was most recently cargo and international markets portfolio manager, having been with QBE for 10 years

QBE Marine
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