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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

Cargo and marine hull face turning tide in hard market

Optimism as cargo and hull rates set to continue rising as sector grapples with increasing claims costs and economic slowdown

International Marine

Viewpoint: Data sharing will help to propel the digitalisation of marine insurance

In a digital marketplace, participants will be rewarded for sharing data and not hoarding it

Market Modernisation Marine

Viewpoint: Reduced premiums highlight need for rate adequacy across marine market

Most carriers recognise the need for rates to rise, but holding the line at renewal is a very different challenge

Marine International

P&I clubs resist cyber exclusions despite rise in attacks

The market has no plans to introduce cyber exclusion clauses, but there could be problems for those clubs which reinsure their primary risk retention in the commercial market

Cyber International

Viewpoint: The rising tide of cyber risk is a challenge for marine underwriters

The insurance market needs to revise the nature of its coverage to shipowners and operators, so that it addresses all marine risks, including pricing for cyber attacks as a contributory peril

Cyber Marine

Covid-19 accelerates P&I market's digital transformation

Like the commercial specialty lines market, the pandemic has had a transformational effect on the digitalisation of marine mutuals’ processes, but there are important differences

Technology Market Modernisation

International Group will resist Covid exclusions by reinsurance market

The coronavirus pandemic has dictated the agenda of the International Group of P&I Clubs for much of this year, but that does not mean other challenges faced by the sector have become any less pressing, according to the group’s chairman and chief executive

Coronavirus Marine

Viewpoint: Discipline and data are critical to building a sustainable marine cargo market

The volume of information and data needed to maintain a sustainable cargo portfolio is brought into sharp focus when there is major market-shifting event

Marine International

Latest Marine Updates

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