X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Although ship owners could face challenges in negotiating 2009/2010 renewals as marine insurers seek rate increases, abundant capacity means competitive forces will create a balancing act in the market, according to Aon’s 2009 Marine Insurance Outlook.

Protection & indemnity rates rose an average of 15 percent at the February renewals as insurers adapted to falling revenues and lower premiums due to recessionary hits of decreasing investment income and reduced marine activity in the recession. Hull and liability underwriters are looking at rate increases of as much as 7.5 percent for attractive businesses.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.