Cargo claims in the spotlight

24 November 2015

Welcome to the second issue of Cargo Delivers, our new regular newsletter rounding up the latest news and trends in the cargo insurance industry. 

For our main feature, we invited senior cargo underwriters from AEGIS and Amlin to join Gary Cordess and Jared Prince from our Cargo team to discuss the latest developments in the cargo claims.

In this issue we cover:

  • Strength of the London market - the London Market is coming under pressure as the growth of other international markets and globalisation lead to increased competition. 
  • Growing need for local policies - in a world where local taxes and insurance regulations are evolving rapidly, marine cargo insureds may find that they have to be able to evidence cover by a locally-licensed carrier in more and more territories.
  • Political violence -trading in Syria - in our case study we look at how a client trading in Syria, was comforted by a multi-year political risk programme covering its sugar stocks against the risk of the local government expropriating their stocks or preventing re-export.
  • Attending CRIMS - three members of our Cargo team attended this year’s RIMS Canada conference (CRIMS). The second largest risk management conference in the world and attracts around 1,000 attendee every year.
  • Latin American Cargo business - Recent years have seen Latin American Cargo business increasingly being placed into London as clients become more educated about their risks and seek specialised, competitive insurance products.

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For further details, please contact Gordon Longley, CEO of Cargo and US Property on +44 (0)20 7466 6555