Maritime Risk International
Marine insurance – beyond Covid-19
Richard Turner, IUMI president, considers the global marine insurance market with a post-Covid-19 lens
The fortunes of the marine insurance sector tend to reflect the health of the global economy and international trade more
generally. When economic indicators are riding high, trade gets a lift and more vessels are required to move larger quantities
of cargo – and this means more risk to be insured and, consequently, more earned premiums. But the role of the marine underwriter
is to protect the flow of trade – whether that is by sea, land or air – whatever the economic situation, including within
the current coronavirus environment that we are all having to manage.