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IUMI

Europe, IUMI, Marine, Marine

IUMI supports action on cargo liquefaction risk

IUMI has backed calls from the International Association of Dry Cargo Shipowners, (Intercargo) for action to tackle the dangers posed by the liquefaction of cargo.

Europe, IUMI, Losses, Marine, Marine

Economy could destabilise marine insurance warns Littlefield

The ongoing economic uncertainty poses a significant threat to the marine insurance industry according to the president of the International Union of Marine Insurance

Europe, IUMI, Losses, Marine, Marine, Risk Management

Underwriters set for another year of hull losses

Hull underwriters are on a 14 year steak of failing to deliver an underwriting profit and have been warned the influx of a huge level of tonnage in the coming three years will spell further gloom for the sector.

Asia Pacific, IUMI, Losses, Marine, Marine, Risk Management

Cargo leader warns on naivety

One of the world’s leading cargo underwriters has said he fears the cargo underwriting community is naive and is in effect being used by property underwriters who are looking to dump poor static cargo risks off their books.

Claims, Energy, IUMI, Losses, North America, Offshore

Claims up but utilisation down according to 2009 figures

While the financial crisis coupled with a fall in the costs of oil and gas has seen a sharp drop downturn in offshore rig utilisation rates in all exploration and production areas of the world, claims are still on the rise according to the International Union of Marine Insurance (IUMI).

Claims, Europe, IUMI, Marine, P&I

Sulphur rules pose claims threat

The use of low sulphur fuel in designated areas across the globe is in danger of creating a new wave of major loss claims for the insurance industry.

Europe, IUMI, Marine, Regulation

IUMI discusses sanctions threat

Underwriters at the International Union of Marine Insurance (IUMI) annual conference in Zurich have been told they face a sanctions nightmare over Iran as the European member states look to implement the latest round of sanctions.

Capital Markets, Europe, IUMI, Marine

Global economy warning by IUMI chief

International Union of Marine Insurance (IUMI) president Deirdre Littlefield opened its annual conference with the warning the market could not ignore the ongoing challenges posed by a fragile global economy.

Europe, IUMI, Losses, Marine

IUMI chief urges marine insurers to resist rate cuts

The President of the International Union of Marine Insurance has said she believes there will be further business failures in the global maritime market warning underwriters they would do themselves no favours if they cut rates for market share.

IUMI, London, Marine

IUMI to open its doors to “partner” members.

The International Union of Marine Insurance (IUMI) is to widen its membership following a decision to establish a new class that will be known as IPP (IUMI Professional Partners) but it does not include brokers and intermediaries.

Europe, IUMI, Marine

IUMI president sets 95% target for underwriters

The President of the International Union of Marine Insurance (IUMI) has warned marine and energy underwriters that delivering a combined ratio of 100% was no longer good enough in the current climate.

Europe, IUMI, Marine, Rates

Marine underwriters warned not to get cut throat

The annual gathering of global marine underwriters opened in Belgium this week with its president warning that the shipping market and with it the marine insurance prospects will get worse before they get better.

Claims, Europe, IUMI, Losses, Marine

Marine claims still on rise and hopes of calmer waters are dashed

The chairman of the International Union of Marine Insurance’s (IUMI) Facts and Figure Committee has warned that the rising tide of claims costs for the market showed no sign of ebbing last year.

IUMI, Losses, Marine, MENA, Piracy, Risk Management

Are insurers getting gun ho over piracy?

There is a growing disconnect between the views across the insurance and reinsurance markets over the thorny question of providing armed guards on vessels in piracy-prone waters.

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