Marine
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Inflation and reinsurance costs are among the key challenges that marine underwriters face. -
The union has also appointed Tokio Marine & Nichido Fire’s Kosuke Hashimoto as vice president.
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Offshore energy chairman Frank Streidl said margins are tight and upstream had not hardened like other insurance lines.
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Marine lines continued to report healthy loss ratios after a period of extensive remediation.
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The Ryan Specialty CEO said that loose wordings were contributing to the surging size of claims
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Staff movement is high in the cargo space as carriers look to expand in an improved rate environment.
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The OS 35 has P&I coverage in place with QBE’s British Marine, which will shoulder clean-up costs from the incident.
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The carrier retains its appetite for the class of business - which has undergone a substantial re-rating since 2018.
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Meaningful capacity is returning to the marine market, increasingly via delegated authority underwriting.
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The move represents a return to WTW, where the broker spent the beginning of his career.
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The carrier is launching into marine as part of a strategic buildout in primary insurance.
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Chaucer’s global head of marine Philip Graham also chairs the influential facts and figures committee of the International Union of Marine Insurance.
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