44 years ago, marine underwriters from around the globe met in Edinburgh under the IUMI banner. The minutes of that meeting make for interesting reading. The issues facing mariners back then are still with us today, with the difference being the values at risk and the technology supporting the insured assets.
Fast forward to 17 September 2023, the dynamic city of Edinburgh will again host IUMI. The UK organisers of IUA and LMA decided to give London a rest for our decennial hosting, and we are confident you will not be disappointed.
Just like London, Edinburgh has many attractions for the international visitor. It’s an established global hub with a thriving financial services industry and has been voted the best large European city of the future.
It’s got a famous castle, is the seat of Scottish government, has royal connections, botanical gardens, amazing shopping streets, galleries, cathedrals, monuments and a zoo. There may even be some malt whisky or haggis to try. However, most importantly, it will see the great annual IUMI family gathering with over 500 marine insurance practitioners together for four days of hard work, some laughter and convivial entertainment.
Edinburgh, and indeed Scotland, have a rich maritime history with shipbuilding yards producing many vessels insured by our predecessors. I am unsure how the Great Michael was insured, as it was built in 1511, weighed 1,000 tons and boasted a crew of 1,000 with 120 gunners. However, the marine market was undoubtedly involved in the tea clipper, the Cutty Sark - now famously based in London - and the Queen Mary, built in 1936 on the river Clyde, now a hotel in Long Beach, California. There is also, of course, the likely self-insured Royal Yacht Britannia, which is worth a visit to learn how Queen Elizabeth II and her family lived on their world cruises.
Chicago was a very successful conference, not least as we were back in person. Edinburgh will be no different. Being at an IUMI conference is about more than just absorbing information – it’s also about building relationships. From those connections, we build trust between the members of the insurance community. You never know when you need it, but it’s instrumental in critical times. We seem, at the moment, to have critical times every month.
We are very confident that you will have a great time in Edinburgh. We can carry on the remarkable tradition of gathering all the leading marine markets in one location to serve our customers even better and continue to provide essential support to the global economy. So, we look forward to welcoming you to IUMI in Scotland this September. When you read this message, there may be only 70 sleeps to go.
Find out more at www.iumi2023.com!