TradeWinds Marine Risk Forum 2009
Posted on January 1st 2008 | By admin
The TradeWinds Marine Risk Forum is now established as the melting pot for ideas and interaction between shipowners, risk managers, underwriters, brokers and club managers. Opinions are freely exchanged and common ground sought on solutions.
The marine insurance industry, the foundations of which are said to have been established in Greece during the Byzantine era, is facing major challenges on several fronts. Hull underwriters are struggling to raise premiums in an over capitalised market against a background of rising high value claims. While P&I premiums are rising steeply liability claims are also climbing, while clubs can no longer rely on investment income to counterbalance underwriting losses.
The situation is further complicated by the booming freight market with fingers pointed at soaring ship values and cargo prices, shortage of experienced crew, constrained repair capacity, the rising cost of steel and a decline in the US dollar.
Is the shortage of well qualified crew behind an upsurge in groundings, collisions and other navigational claims? Can masters be encouraged to report near misses and the casualties that didn’t happen? Can anything be done to curb claims and address the many challenges facing the marine insurance market?
Be part of the solution – join us in Athens.
Where: Athens, Greece
When: May 11-12, 2009
