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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

Ukraine war risk insurance rates settle into normal range

Worst-case scenario of high insurance premiums jacking up costs to buyers and thus to hungry consumers in emerging market economies now looks to have been averted

Marine Ukraine War

UK's tougher marine insurance sanctions on Russia on indefinite hold

Britain’s Ofsi expected to move towards US approach – forbidding transactions with named individuals, companies and entities – rather than emulate EU blanket ban

London Lloyds

Ever Given grounding gave P&I chance to shine: UK Club chief

North-Standard merger does not necessarily mean other marine mutuals will join forces any time soon, Andrew Taylor says

International Marine

North triggers monkeypox exclusion for fixed-premium clients

Cover capped at $5m per vessel due to reinsurers’ unwillingness to write public health emergency risk

International Marine

Decline in Lloyd’s Open Form use 'poses disastrous risk to life'

Financial considerations appear most important for falling off, with consensus emerging that LOFs are more expensive than alternatives, International Group report says

International Marine

First Ukraine grain ship leaves Odesa through safe passage agreement

War risks insurers ready to provide coverage, LMA marine head says, as Ascot launches marine cargo and war facility 

Ukraine Marine

First shipment of Ukraine grain today will test political deal

Insurers waiting for the detail of standard operating procedures to be clarified before they will underwrite shipments

Europe Marine

Digitalisation will expand cargo insurance opportunities: Marsh

Future of insuring goods in transit increasingly shifting to logistic providers, offering cargo owners freedom to select shipments and to shop for price and efficiency

International Marsh

UK Club cuts deficit as turnaround continues

Ever Given insurer describes year’s major claims experience as benign, despite shelling out for boxship grounding

United Kingdom Marine

UK Club ‘disappointed’ by court ruling on Venezuela claim

Marine mutual cannot be granted permanent anti-suit injunction because South American government enjoys sovereign immunity, but loss of military patrol boat will go to London arbitration

Venezuela United Kingdom

Britannia's Cutler in line to chair International Group

Marine mutual’s chief executive expected to take on role for three-year term in November

International United Kingdom

UIB expands marine division with Waller hire

International re/insurance broker hires Roanoke executive director David Waller as divisional director

London Marine
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