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XTo navigate today’s evolving challenges and risks, the maritime industry requires a risk management advisor with innovative technology and decades of dedicated marine expertise.
The novel coronavirus (2019-nCoV) and other disease outbreaks pose social and economic risks that businesses can address through appropriate risk transfer and mitigation strategies.
The top 10 issues for impact in 2019 reflect current events, as seen by the inclusion of environmental concerns, geopolitical tension, big data and artificial intelligence, changing trade patterns, cyber-attacks and data theft, and societal demands for sustainability.
Market uncertainty has increased the attractiveness of long-term oil storage at sea. However, the risks associated with this may not have been properly considered.
Enormous commercial vessels are already plying waters around the world. What are the hydrographic concerns for such large vessels?
Even a small environmental issue at a port or terminal can cost millions, but the right risk-transfer strategies can protect operators’ bottom line.
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 advisor 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 clients differentiate their risk profiles, enabling them to better compete for insurer capacity.
With specialized marine expertise backed by industry-leading data, analytics, and benchmarking, we help determine and prioritize 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 minimize 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 specialized 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 client needs.
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