Ocean Marine Insurance Responds to Challenges

Tuesday, October 27, 2009

The U.S. Ocean Marine insurance industry has been hard hit by the economic crisis at a time when its structure, traditions and culture are facing challenges, according to a new study by Conning Research and Consulting.

"The Ocean Marine industry has deep foundations of tradition and specialization that give it unique status relative to other insurance segments. Over the past five years, the experienced specialist ocean marine writers have clearly outperformed the rest of the market," said Jerry Theodorou, analyst at Conning Research & Consulting. "But some larger companies have also outperformed by combining a specialist orientation with the resources of a larger carrier."

The Conning Research study, "Ocean Marine Insurance: Entering New Waters" analyzes the performance of the industry and presents the structural and cyclical challenges to the market. "The dramatic downturn in global trade in 2009 has jolted the Ocean Marine market at a time when it was struggling to sort out a number of challenges," said Stephan Christiansen, director of research at Conning. "Structural changes in available capacity, market consolidation, and changes in capital flows may require new approaches to sustain the business in today's marketplace. Our analysis points to the need to combine experience and specialization with greater scale and modern technical capabilities to navigate this new marketplace."

(www.conningresearch.com)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Portugal PM Warns Lisbon Dock Workers to End Strike

Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.

Gender Identity Spat Sinks Spending Bill

The rancorous political debate over sexual identity unexpectedly prompted the Republican-controlled House of Representatives to rejected an energy and water spending

Hercules Offshore Filing for Bankruptcy Again

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1106 sec (9 req/sec)