An excess of capacity, new competition among carriers and increased measures against cargo theft characterize the landscape of the Inland Marine segment, the vast and varied coverage area that encompasses any type of shipment that does not travel over an ocean, including fine art and jewelry.
After collision, the next-costliest Motor Truck Cargo claims are cargo theft and then fire. Frequent accident claims involve bad-weather collisions with other trucks, cars and guardrails--and rollovers are common.
Inland-marine insurers are faced with a thinning and aging talent pool in a line of insurance that requires highly specialized industry and insurance knowledge, according to a recent Conning Research & Consulting report.
Inland-marine insurers are faced with a thinning and aging talent pool in a line of insurance that requires highly specialized industry and insurance knowledge, according to a recent Conning Research & Consulting report.
Inland-marine insurers are faced with a thinning and aging talent pool in a line of insurance that requires highly specialized industry and insurance knowledge, according to a recent Conning Research & Consulting report.
An overriding theme of the latest wave of mergers and acquisitions in the insurance industry: strategic buys of specialty-flavored books is specialization.
Although inland marine doesn’t lend itself to formulaic underwriting, newcomers see the line’s traditionally low 87 combined loss ratio—and want in on the action, says Kevin O’Brien, president of the Inland Marine Underwriters Association (IMUA).