IUMI Eye Newsletter December 2023

Message from the president: A busy year draws to a close

As we expected, 2023 has been a very busy year for marine insurers with a number of issues impacting significantly across all lines of...

The Gaza conflict

The recent eruption of hostilities and atrocities directed at Israel unleashed not only an Israeli response but also a wave of concern about regional contagion. Behind that lay the...

The importance of safety culture and safety climate

The Chernobyl nuclear power plant disaster, the Piper-Alpha oil platform explosion, the sinking of the Herald of Free Enterprise – what do...

MARCOM maritime security symposium

This year’s MARCOM maritime security symposium took place in November in London and focused on a number of high impact issues relevant to marine...

Big data for trusted green shipping

500 million signals are sent by the worldwide fleet each day and this is gold for green shipping. Insurers must seize this data and capture its value. What is at...

Special risks of BESS (Battery Energy Storage System) for cargo insurers

To achieve the Paris Agreement goals, the adoption of renewable-energy sources has increased significantly in recent years...

IUMI makes significant strides to advance its diversity and inclusion agenda

IUMI’s Executive Committee recently agreed and published a statement on diversity, equity, inclusion and belonging...

Lifting errors cause high costs

A yacht falls off the hook during discharge from a ship, a mobile home comes loose from its rigging while being slewed above trees, a machine is damaged during...

ICC Digital Standards Initiative: Standards for cargo insurance certification & policy

IUMI is one of the associations that is involved with the International Chamber of Commerce Digital Standards...

Can “fire defence” be challenged?

We were recently involved in a case of containerised refrigerated cargo (peas) suddenly affected by a total blackout of the carrying ship, followed by a...

Q&A with Nick Coleman

Tell us about your connection with IUMI? Coming from the claims side of the marine insurance business, IUMI for me was nothing more than a conference in far away places that...

Where are we now? An overview of the important steps taken so far to combat Illegal, Unreported and Unregulated (IUU) Fishing.

In 2016, Dana Miller...

Report of the 9th session of the Sub-Committee on Carriage of Cargoes and Containers (CCC 9)

The Sub-Committee on Carriage of Cargoes and Containers (CCC)...

New Secretary-General for IMO

From 1 January 2024, Mr Arsenio Antonio Dominguez Velasco from the Republic of Panama will become Secretary-General...

Shipping's nuclear option

In shipping's race to decarbonise, nuclear propulsion for merchant vessels is gaining interest. It joins a packed list of contenders alongside alternative fuels (such...

Writing war risks without a safety net

With the conflicts in Ukraine and Israel still very much in the limelight, war risks and cover remain firmly in the insurance spotlight. The escalating...

Third party repairs: more reasonable than the OEM?

Every practitioner of English marine insurance law knows that the measure of indemnity for damage to a vessel is the reasonable cost of repairs...

Jordan Insurance Federation joins IUMI

We are delighted to announce that the Jordan Insurance Federation (JIF) has become an associate member of the IUMI family and we are pleased to introduce Dr...

Mariners Medico Guide – updated medical advice when you need it

Imagine being aboard a ship, with days to go to the nearest port. A colleague has fallen ill and there is no doctor on board....

Reflections from a graduate of the IUMI Masterclass in Cargo Insurance, class of October 2023

I was lucky (and quick) enough to secure a place to attend the second round of IUMI's Masterclass in...

Reflections of Edinburgh 2023

In September, nearly 750 members of the IUMI family gathered in Edinburgh, Scotland for our annual conference. As far as records exist, we believe this is the largest...

Podcast: An analysis of the marine insurance market

Our latest podcast features Jun Lin and Astrid Seltmann from the Facts & Figures Committee who discuss the state of marine insurance within...

A first timer’s view of the IUMI conference

This year we offered a complimentary place at our conference to the student who attained the highest score in our IUMI examinations. Patrick Eckstein...

Global tech collaboration to combat commodity smuggling at sea

S&P Global Market Intelligence, a new IUMI Professional Partner, concluded a two week exercise in November on illegal smuggling at...

Learning with IUMI and the WMU – a student’s perspective

In 2021 I learned about the IUMI Hull/Cargo Online Tutorial and also about the bursary for Marine Insurance Law & Practice...

Stats Report 2023 indicates positive growth for marine insurers

In November, we released the latest edition of our annual analysis of the global marine insurance market – the IUMI Stats...

Does the cargo market have a handle on port accumulations?

Around 90% of all goods are shipped around the world by sea and containerised trade has been steadily increasing year-on-year. Capacity...

Changes and new faces at IUMI

Our conference in September is the annual marker where we see some changes to our leadership. On the Executive Committee, Sean Dalton of Munich Reinsurance America was...

Everyone is talking about geopolitics

In November, IUMI partnered with Slipcase to provide an additional distribution tool for IUMI news, views and analysis. We invite all IUMI members to sign up to...

Podcast: Cargo Masterclass

Our Cargo Masterclass is becoming an essential training tool for marine insurance professionals and is now a central element to our education activities. In this podcast,...