Spring Meeting 2019: Marine insurers from around the world gather in Hamburg

By Hendrike Kühl, IUMI Policy Director

IUMI’s annual Spring Meeting in Hamburg is turning into something of a tradition. In early April over 120 committee and forum members from 25 countries gathered in the city of Hamburg to discuss hot topics and to get organised for the committee workshops at the upcoming IUMI annual conference in Toronto. Each committee chair also used the opportunity to provide an update on their various work streams. A particular highlight this year was the progress made on the major claims database in the Facts & Figures Committee, which is going to be expanded further, building on the successful 2018 pilot project.

The plenary session saw a variety of excellent presentations on a wide range of highly topical issues. Containership fires, challenges for carriers and insurers related to intellectual property infringements, and ISMP 15 as a potential excuse for trade restrictions were on the busy agenda. The conference ended with a perfect setting for such an international crowd of marine insurers: a cruise on the River Elbe with impressive sights of the port of Hamburg.

Following the meeting, the spring statistics were published for cargo, hull and offshore energy. The data shows that whilst in general, major losses remain stable, the continued erosion of the global premium base means that attritional losses are becoming much more significant. The increased risk of large, more complex and costly claims has the potential to impact all marine underwriting sectors in 2019.

For copies of the IUMI technical committee chair’s reviews, full statistics and analyses please visit: (NB: This is a members only section).