Marine

With the vast majority of cargo carried by trucks in Brazil, the market could see strong rise of demand for insurance covers thanks to regulatory changes recently approved by the government.

The marine insurance industry faces myriad challenges including geopolitical tensions, uncertain macroeconomic conditions, ESG issues and a shortage of talent. Inland marine insurers are being further impacted by increased reinsurance costs and severe weather conditions, and as a result are increasingly turning to technology to improve the underwriting process.

Cargo theft events increased 15 percent in 2022 for an estimated loss of $223m. President and CEO of Falvey Insurance Group talks about the challenge of cargo theft and how to prevent it.

Focusing on risk management is key to securing insurance in the changing yacht insurance market, according to marine specialists.