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.
Viewpoint: Covid-19 claims highlight cracks in P&I coverage
In these unprecedented times, it is incumbent on P&I clubs to do all they can to exercise discretion in favour of their members
Hull and machinery claims down, Cefor data shows
Total losses hit another record low in first half of 2020 as trade body warns of pandemic-related marine claims
Legal Focus: Oil spill shows compensation limits outdated
A recent oil spill offshore of southern Mauritius raises a number of issues about compensation limits
Viewpoint: We must seize the opportunity to improve working conditions for seafarers
Covid-19 has generated significant momentum around the humanitarian crisis impacting seafarers. But, is it enough to drive change?
Viewpoint: Economic downturn could drive up cost of marine claims
It is crucial for shipowners and their insurers that marine safety and maintenance standards are not adversely affected by any downturn
Viewpoint: Data sharing will significantly reduce the cost of claims in the P&I sector
The International Group of P&I Clubs recognises the key responsibility it has to effectively utilise its unique claims data set to support a sustainable shipping industry
Viewpoint: Covid-19 is driving the marine market’s overdue turnaround
The challenges created by the coronavirus pandemic underline the importance of ongoing initiatives to reform and steer the market to recovery
Focus: The seafarer crisis is a challenge for the marine sector, including insurers
Shipowners and their insurers will very likely face claims from seafarers
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