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.
Beazley to launch $1bn marine war consortium
Consortium will provide cover for vessels and cargoes transiting the Strait of Hormuz
Oil industry scheme may have to pay for uninsured shadow fleet spill
Claim would need authorisation from executive committee, but banking restrictions may make payments difficult
Third successive year sees $50m-plus losses for marine hull
Cost of claims now a third higher than before pandemic, says Cefor
Partial settlement of Baltimore bridge claim, but no details
Mounting signs that compromise could be on the cards
Geo Underwriting strikes marine capacity deal with Intact Insurance
Managing general agent looks to expand presence in the specialist industrial marine market with capacity partnership
Data-led underwriting 'will define marine risk'
Machinery data will fill a big gap in loss models, Ceto's chief executive Tony Hildrew argues
UIB names Waller head of marine
David Waller succeeds Andrew Little as managing director of Lloyd’s broker’s marine division
Tysers names Cooper director of marine and aviation
Executive joins Lloyd’s broker from Consilium
Marine insurers reprice Middle East Gulf war risk following ceasefire
No consensus over new going hull rate but trend clearly down
Swiss Re names Revell global head of marine and energy
Revell has more than 30 years of reinsurance experience
Reinsurers exposed to $150bn in Iran war liabilities
Marine carriers bear more than $45bn in exposure on hull-only policies, while aviation hull liabilities come to about $35bn, says Guy Carpenter
International Group to foot $350m recovery from Dali bridge insurer
Liability could eventually run to billions of dollars
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