SHUTTERSTOCK / IADA
Marine insurers attending the annual International Union of Marine Insurance conference in Berlin this September will have no shortage of talking points. The sector is increasingly having to respond to external threats and changes while still grappling with age-old challenges including pirates. Intelligent Insurer reports
Maritime insurers have had an interesting time of it in recent years, affected by a range of hazards that should make anyone (or any marine insurer) stop, pause and take stock.
Just some of the challenges have included piracy, hurricanes and cruise liners being accidentally wrecked by captains trying to impress female guests.
But as is the case all too often in insurance, it is not the risks you understand that are the real problem. Other hazards have started creeping into the sector in recent years—risks that are less familiar.
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International Union of Marine Insurance, IUMI, IMB,