To navigate today’s challenges, the maritime industry can benefit from a risk management adviser that has decades of dedicated marine expertise.
More than 100 years of marine expertise... 600 maritime specialists worldwide... US$3 billion in coverage globally
Research and Briefings
The outcome of a recent English Court case has given rise to concerns from shipowners on the validity of insurance claims.
Risk in Context
The advantages and disadvantages of switching from paper to electronic bills of lading, with recommendations on how to mitigate the risks accompanying their use.
Research and Briefings
Hanjin bankruptcy: Our latest briefing explores those likely to be affected and the insurance coverage issues.
As global trade stretches into more remote corners of the world, the entire maritime industry enjoys new growth opportunities. It also faces new challenges, unpredictable costs, and the ever-present potential for catastrophic loss. The speed of change keeps accelerating, requiring swift responses and greater operational efficiencies.
Marsh’s Marine Practice is a leading adviser to the maritime industry on risk and insurance issues. Our globally-coordinated team of nearly 600 maritime specialists places approximately US$3 billion in marine premiums globally, identifying cost-effective, often hard-to-find insurance solutions. We help you differentiate your risk profile, enabling you to better compete for insurer capacity.
With specialised marine expertise backed by industry-leading data, analytics, and benchmarking, we help determine and prioritise exposures and determine how much risk your balance sheet can comfortably retain. We use technology to develop innovative risk management solutions specifically for the maritime industry. And our dedicated marine claims staff helps to accelerate claims payments to maintain cash flow.
With Marsh’s Marine Practice, you can minimise total cost of risk, help protect your balance sheet amid business challenges, and stay competitive in an increasingly global marketplace.
The maritime industry demands not only specialised knowledge, but also a holistic perspective. Marsh takes a global service approach to our marine clients, augmenting our capabilities with professionals who are dedicated to providing expertise and innovation in the following areas:
Whether your risk relates to ship repair and maritime construction, natural catastrophes, start-up delays, war, terrorism, coastal marine operations, inventory, or other risks, Marsh’s experts can provide insight and solutions to address your business challenges.
Two keys to Marsh’s success: collaboration and innovation, which lead to new products and creative ideas that result in unique client solutions. For example, we:
Today, we continue to encourage originality, always focused on the future to help ensure we anticipate your needs.
Marine insurance as it is known today originated in London and London remains its pre-eminent centre. More marine insurance is transacted with companies, Lloyd’s syndicates and protection and indemnity (P&I) clubs in London than anywhere else in the world, and London remains the “go-to” market for new, complex and non-standard risks. As a Lloyd’s broker, Marsh’s marine team is a major part of that hub and has been responsible for placing some of the largest and most challenging risks accepted by the market in recent years.
As part of Marsh’s global marine network, the London marine team has quick access to all the world’s leading marine insurers, wherever they are based.
The prompt collection of valid claims is the essential end product of a well-structured insurance programme. The unique nature of our client portfolio has exposed us to many of the major casualties suffered by the maritime industries over the last 30 years, and some of the biggest and most challenging marine claims in recent years have been brought to successful resolution through the skills of the Marsh claims team.
Marsh’s specialist marine claims advocates draw upon the experience of many previous successes in maximising policy coverage, develop novel approaches to coverage or quantum issues, and provide you with the benefit of our loss management experience to help you through any difficult periods.