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Cargo insurance has entered a new era that will deliver opportunities to those underwriters who embrace technology and harness its power. This message was delivered by the International Union of Marine Insurance (IUMI) at its data and digitalisation workshop as part of this year’s annual conference delivered online from Seoul.

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14th September 2021

The IMRF Awards 2021 winners announced

Client news

Winners from SAR organisations all around the world are recognised and applauded ….and the IMRF People’s Award is launched 

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Speaking at the International Union of Marine Insurance (IUMI) annual conference currently taking place online, chairperson of the IUMI Loss Prevention Committee, Pascal Dubois, called on marine insurers to recognize the vital role that loss prevention plays in increasing overall efficiency and profitability of their entire business.

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The offshore energy insurance sector continues its period of relative stagnation with IUMI (International Union of Marine Insurance) reporting a global premium base for 2020 of USD 3.6 billion. Although a slight uptick on 2019, premiums have been languishing at low levels for the past six years or more. A continuing low claims environment has offset, in part, the low premium base but profitability has been limited.

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