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.
NorthStandard confirms firm P&I renewal round
Biggest UK-based marine mutual ‘not going soft’ with focus on improving combined ratio
Absolutely nuts: off-spec bunkers cut with cashew shell residues
Concern for marine insurers is that engine damage from off-spec bunkers can lead to hull claims
Weak dollar will boost headline marine insurance premiums: IUMI
Greenback’s recent plunge will bolster aggregate statistics for sector
Marine insurers face exodus of senior talent, Dalton warns
Specialty lines in particular are facing significant demographic shift as a generation of technical experts and senior leaders look to retire, Munich Re executive and IUMI vice-president Sean Dalton says
IUMI head blasts aggressive politicians and illegal shipping practices
Normally cautious trade association chief offers pointed pronouncements on challenges facing underwriters
Hive expands marine platform with senior hires
Alistair Marriott named head of marine and Jared Short appointed head of transport and logistics
P&I renewal market looks ‘pretty hard’: Lockton
International Group affiliates seeking higher premiums and largely getting them
Steamship Mutual confirms capital retention strategy in ‘challenging period’
Claims for current policy year higher than expected but in line with wider market, P&I clubs says
Baltimore bridge collapse trial set for June
Potential payout could substantially top $3bn upper limit on pool claims
‘Wide gulf’ between crew incompetence and negligence: NorthStandard
Admiralty Court ruling in Happy Aras highlights need for owner due diligence
Steamship Mutual opens Japan law office
Move will broaden members’ access to English law and claims advice
Hive to enter marine market with Lewis hire
Specialty managing general agent hires Everest’s head of international marine to spearhead new product suite
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