Improving risk management key to future success

More than 550 delegates gathered in Cape Town recently for the International Union of Marine Insurance’s annual conference. As Liz Booth reports, the event covered a range of topics but key messages around good risk management and a need to improve their understanding of risk emerged

A benign claims experience in 2017 has helped mask the challenges facing the marine insurance industry as the sector remains over-capitalised and premiums fail to cover both the cost of claims and expenses.