The International Union of Marine Insurance (IUMI) has published recommendations on the safe carriage […]
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IUMI: global trade up, marine insurance up, cargo insurance up (but uncertain)
New data in a report from the global marine insurer’s body, the International Union of Marine Insurance (IUMI), paints a generally positive picture of world trade and marine insurance.
“The global economy appears to have bounced-back more strongly than expected post the outbreak of COVID-19. Consumer and business confidence are at their highest levels since...
IUMI: Regulation on green fuels is urgently needed
Although it fully supports the shipping industry’s move to decarbonisation, the International Union of Marine Insurance (IUMI) said that adequate risk management provision must be in place to…
https://www.offshore-energy.biz/iumi-regulation-on-green-fuels-is-urgently-needed/
IUMI publishes initial findings from its major claims database.
Dave Matcham
IUMI publishes initial findings from its major claims database.
During this year’s annual International Union of Marine Insurance (IUMI) conference, initial findings from IUMI’s major claims database were made available for the first time.
Following three years of development, the database is now sufficiently reliable for IUMI to publish a set of global cargo claims data.
Dave Matcham, Chief Executive, International Underwriting Association; and project leader and secretary to IUMI’s...
Despite modest recovery, global marine insurance sees uncertain future
Marine underwriting premiums for 2019 saw a reduction of 0.9% year over year and were estimated at $28.7 billion, the International Union of Marine Insurance (IUMI) said. The post Despite modest…
Global marine insurance results indicate a modest recovery but COVID-19 adds uncertainty for the future, IUMI reports.
Global marine insurance results indicate a modest recovery but COVID-19 adds uncertainty for the future, IUMI reports.
Today, IUMI – the International Union of Marine Insurance – presented its analysis of the latest marine insurance market trends during its annual conference which this year is being held online. Marine underwriting premiums for 2019 were estimated to be USD 28.7 billion which represents a 0.9% reduction from 2018.
The USD 28.7 billion global income was split between these...
Navigating changing climates: IUMI President, Richard Turner, identifies four key challenges facing marine insurers.
Richard Turner, IUMI President
Navigating changing climates: IUMI President, Richard Turner, identifies four key challenges facing marine insurers.
In his keynote address to the International Union of Marine Insurance (IUMI) annual conference, IUMI President, Richard Turner, focused on four areas that are set to exert maximum impact on the marine insurance sector of the future – these were identified as the COVID-19 pandemic, the changing macro-economic and geopolitical situation, climate change...
IUMI Eye September 2020
IUMI Eye September 2020
Please see below the link to International Union of Marine Insurance (IUMI – www.iumi.com) latest edition of the informative IUMI Eye:
A few of the key stories include:
- Message from the President
- European Parliament impatient on greenhouse gas ambitions
- New sanctions regimes and compliance issues for marine insurers
- IUMI EYE Q&A with Ian Lennard, National Cargo Bureau
- Diesel electric hybrid vessels – is it for every vessel?
- COVID-19: Does marine...
https://www.allaboutshipping.co.uk/2020/09/07/iumi-eye-september-2020/
How is the marine insurance sector dealing with COVID-19
IUMI published a guidance paper providing an overview of the impact of the COVID-19 pandemic on marine insurers and their clients’ business. The paper focuses on the microeconomic impact, the impact on marine and logistics, as well as on marine insurance industry.
The paper recaps the situation up to now, reminding that the virus was firstly reported in Wuhan, in late December 2019, and evolved to what is now declared as a global pandemic. In efforts of mitigating the spread of the virus, the...
https://safety4sea.com/how-is-the-marine-insurance-sector-dealing-with-covid-19/
Rule Out Misdeclared Cargo, Says IUMI
- Mis- and non-declaration of cargo has serious safety implications and is the root cause behind tragic incidents.
- IMO urged to amend fire safety regulations.
- Fines from shipping lines will increase the pressure on shippers to declare their cargo properly.
- More random inspections of cargo also suggested.
- The safety objectives set out in SOLAS do not seem to be met and in light of the various recent casualties, the time for action is now.
According to International Union of Marine Insurance,...