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.
All-in vessel insurance costs unchanged after flat 2025
Baltic Investor Indices data points to stability in marine market, despite soft hull renewals at January 1
Lloyd’s takes fake war risk cover case to appeal
Vyssos case important for understanding of Institute Hull Clauses
Lloyd’s Register unveils maritime nuclear consortium
UK-led maritime consortium sets out plan for nuclear-powered fleet to tackle one of the toughest challenges in the clean energy transition
Cargo claim rejected after ‘dereliction of duty’ caused bulker to ground
Ruling in Unity Ship Group v Euroins Insurance – known as the Happy Aras case – underlines the need for shipowners to demonstrate due diligence in crew selection and supervision
North America hull market ‘remains fragile’
Increased capacity and aggressive competition from MGAs driving rates down, broker BSM says
Gard retains A+ rating with S&P Global
Norwegian club has best financial strength rating in International Group
Maduro arrest casts new light on US court decision on $54m Citgo claim
Circuit court considers claim under a war risk clause based on the Maduro regime’s actions in Venezuela
Black Sea attacks intensify with three tankers hit
Three ships were attacked on January 13 off Novorossiysk, two near the Caspian Pipeline Consortium
Cargo ship hit by Russian mine faked war risk cover note
But mortgagees entitled to mortgage interest insurance payout, Commercial Court rules
Westfield Specialty appoints Radbourne power and onshore renewables underwriter
Radbourne joins from MS Amlin, where he was power generation lead underwriter
Marine and aviation insurers ‘most exposed to Venezuela spillover risk’
Geopolitical developments tied to Venezuela are sharpening tail risk for specialty insurers, particularly in marine, aviation and political risk, despite minimal direct exposure to the country
Politics will remain a challenge for marine insurance in 2026, LMA’s Roberts warns
‘Sheer unpredictability of events is anathema to trade’, Lloyd’s Market Association’s marine head argues
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