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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

Viewpoint: Cost of crew claims spirals under Covid-19 port restrictions

Lack of a robust, mandatory testing regime for crew members is a major concern

Claims Management Coronavirus

Surge in pirate activity increases Covid-19 challenge for marine market

Insurers fear pirates in the Gulf of Guinea will attempt to board tankers used as offshore storage facilities 

Claims Management Coronavirus

Viewpoint: Club correspondents on the frontline as PI sector steers way through pandemic

Correspondent networks have been essential to the ability of P&I Clubs to maintain service levels  despite the significant restrictions imposed on the maritime industry as result of the pandemic

Coronavirus Marine

Shipowners look to force majeure as BI cover fails against Covid-19

China and India are issuing force majeure certificates for the purpose of ‘shielding’ companies in the maritime sector from legal damages resulting from the pandemic

Claims Management Regulation
International Marine

Marine market risks irrelevance in face of Covid-19

The issue for insurers is not that Covid-19 represents an unprecedented challenge for the marine sector, but the sense there is not much they have to offer by way of risk mitigation

Coronavirus Risk Management

Focus: Market must develop more flexible solutions to the risk of vessel detention in the Persian Gulf

Shipowners are turning to strike and delay-type coverages to help mitigate against the high cost of marine war risk insurance in the region

Focus Political Risk and Trade

Viewpoint; The London market must do more about marine cyber risks

With the implementation of the IMO’s cyber guidelines less than a year away, there remains a high degree of misunderstanding in the market about the threat posed by cyber risks to the marine and shipping infrastructure

Cyber Marine
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