IUMI Eye Newsletter December 2024

Presidents message: Looking aft and for’ard with confidence

2024 will soon become part of our history and so we should take a moment to reflect on IUMI’s achievements during our special...

A World in Flux

Marine insurers as usual find themselves in the forefront of events, both at home and abroad. Due to the continuing Houthi attacks, Red Sea transits are down 50% with many ships...

Questioning the scope of general average

On August 29, 2024, the container ship X-Press Pyxis experienced a failure of the stern tube system whilst en route from Busan, South Korea to Yokohama,...

Happy anniversary IUMI!

To commemorate our 150 anniversary, we have made a short video starring a few of our IUMI luminaries. Check it out from our homepage (just scroll down until you find...

10th session of the Sub-Committee on Carriage of Cargoes and Containers (CCC 10)

The Sub-Committee on Carriage of Cargoes and Containers (CCC) deals with the carriage of packaged dangerous goods,...

82nd session of the IMO’s Marine Environment Protection Committee (MEPC 82)

The Marine Environment Protection Committee (MEPC) addresses environmental issues under IMO’s remit. This includes...

Proactive risk management for inventory in storage

Cargo at rest is cargo at risk. We have all heard this phrase in relation to protecting goods in transit against theft. When cargo is...

Report on the Maritime Safety Committee (MSC 109)

The 109th session of the Maritime Safety Committee took place at the IMO in London from 2-6 December 2024 and was chaired by Maite Medina from the...

Data & Digitalisation – opportunities for those brave enough?

I’ve served on IUMI’s Data and Digitalisation (D&D) Forum for two years and took over as Chair in September this year....

Best practice recommendations for the use of “flexitanks”

The use of flexible tanks (or flexitanks) to transport liquid bulk cargoes has grown significantly in recent years mainly due to reduced...

Podcast: Guidelines for the use of flexitanks

We have recently issued a comprehensive paper offering guidelines for the use of flexible tanks for liquid bulk cargo. In this podcast we are joined by...

Black Sea escalation — realistic disaster scenario

Russia’s Novorossiysk port and terminal and the Ukrainian ports of Odesa, Pivdennyi and Chornomorsk on the Black Sea are key commercial...

Stats Report 2024 available to download

The IUMI Stats Report, our annual analysis of the global marine insurance market, was finalised and published in October. The report provides insights into...

Advancing Marine Underwriting with Space-Based RF Detection

Marine underwriters operate in a rapidly evolving environment, challenged by the complexity of global shipping and the rise in deceptive...

Impressions of the IUMI Cargo Masterclass

I was fortunate to particate on the latest IUMI Masterclass for Cargo this October. It was an incredible educational experience attended by 21 cargo...

Celebrating 150 years in Berlin

This year we brought our annual conference home to Berlin – where IUMI was founded 150 years ago. A record 817 attendees gathered to celebrate the development...

IUMI updates the Canadian Board of Marine Underwriters

Last month I was delighted to be invited by the Canadian Board of Marine Underwriters (CBMU) to speak at their annual Fall Conference in...

Cargo theft in the African copper belt

The African copper belt, which spans parts of Zambia and the Democratic Republic of the Congo (DRC), is a key region for global copper production. However, the...

Sanctions and Insurance – understanding exposure and ensuring ethical business practices

In October 2024, new sanctions were imposed by the UK government on Russia’s “shadow...

A year of crisis and strife for global trade

2024 has been another turbulent year for global trade, where global events seem to be occurring at an increasingly fast pace. Yet, these are not minor...

IUMI joins East Asian Insurance Congress in Hong Kong

The East Asian Insurance Congress (EAIC) was founded in 1962 in Tokyo with the aim of furthering and developing international...

North Bund Forum, Shanghai

According to IUMI’s statistics published in September 2024, China is by market premium income the largest cargo insurance market in the world and the second largest...

ALSUM in Santiago

Marine Insurance in Latin America is rapidly developing and is of high interest to IUMI. The regional umbrella association for marine insurers is Bogota-based ALSUM which - very...

Building a safer future: The role of effective training in dangerous goods ocean transport

The International Maritime Organization recently released its annual consolidated report on container...

Tripartite Meeting, Shanghai

The maritime industry requires coordination so it may embrace technological developments, facilitate change and understand the impact of such developments on other...

Non-peak perils: A quiet storm in marine Insurance

The maritime industry is undeniably the backbone of global trade, connecting markets and ensuring the flow of goods worldwide. Equally undeniable,...

Changes at the top

At the IUMI Council Meeting held during our annual conference in Berlin in September, changes were made to our Executive and Nominating Committees as well as our Inland Hull,...

Welcome to ARM Services

We welcome ARM Services into the IUMI family as a new Professional Partner. Based in Argentina and Chile, ARM Services was created in 2010 to offer insurance and...