Marine cargo market characterised by “accelerating change” as underwriters take action to address continuing unprofitability, says IUMI

Speaking at yesterday’s IUMI (International Union of Marine Insurance) annual conference in Toronto, Canada, Sean Dalton, Chair of IUMI’s Cargo Committee reported a 2.5% increase in 2018 global premiums to USD 16.6 billion. However, the increase was largely attributable to growth in global trade and exchange rate fluctuations. Dalton characterised the marine cargo market as …