Rising and falling to the occasion

Nazery Khalid discusses the swings in marine insurance rates and the reasons behind it

There is a bit of yo-yo momentum going on in the marine insurance sector in recent years. Between 2006 and 2010, marine insurance claims and costs showed a rising trend due to increased risk exposure to ships (and their crew) and shippers. This was largely due to the increasing piracy attacks in the Gulf of Aden.