Marine outlook positive

International

A benign claims environment is helping to create a “win-win” situation in the cargo and liability marine markets, according to Aon’s 2008 Marine Insurance Market Review. While shipowners can expect to pay less in 2008 – up to 10% for well managed risks – underwriters are keeping their figures in the black due to the low level of claims. “This positive outlook is due to a plentiful supply of capacity combined with a low level of claims creating fierce competition between underwriters. The relatively benign claims environment reflects major advances in recent years in ship design, cargo handling and general maritime safety”, Aon said.