“ INVESTMENT IS CONSTANTLY AT ODDS WITH
UNCERTAINTY . ALTHOUGH WE WILL NEED MODERN , ENERGY-EFFICIENT SHIPS , SHIPOWNERS AND BANKERS WILL NOW EXPECT A LARGER
RETURN ON INVESTMENT ”
CARGO AND MARINE INSURANCE
It would be hard to imagine just two years ago that the topic of cargo and marine insurance could make international headlines . But then came two large-scale events that made us seriously reassess that situation : first , a container ship called the Ever Given was grounded in the Suez Canal in March 2021 , blocking the major through-route and causing disruption to global supply chains . Then , from February last year , Russia ’ s invasion of Ukraine produced widespread implications that have affected the cargo and marine insurance line – just as it has affected most of our daily lives . Gone are the days when cargo and marine insurance could shy away comfortably into tranquil obscurity .
At the outbreak of the invasion , predictions were that the war would significantly increase cargo and marine premiums . That came to fruition at the
“ INVESTMENT IS CONSTANTLY AT ODDS WITH
UNCERTAINTY . ALTHOUGH WE WILL NEED MODERN , ENERGY-EFFICIENT SHIPS , SHIPOWNERS AND BANKERS WILL NOW EXPECT A LARGER
RETURN ON INVESTMENT ”
RISHITA AGARWAL A ND SHAMIL ADEEB
CENTRE FOR MARITIME LAW
end of May when it was reported that premiums for certain aviation and marine activities had increased by 100 % or more . Despite this , the insurance sector is still expected to record growth for the past year , albeit at a slightly modest rate .
98 March 2023