Tariffs, protectionism and marine insurance

Lars Lange, of the International Union of Marine Insurance (IUMI), discusses how tariffs and protectionism impacts the marine insurance market

IUMI represents marine insurers across the world and is a vocal supporter of international trade which we believe is one of the central supporting pillars of global economic growth. Growing the global economy will benefit global society and any restrictions imposed will, necessarily, be detrimental to the population as a whole. Therefore, we believe that trade should remain as open as possible and not subjected to undue hindrance.