Marine Insurance Considerations in the Global Financial Climate

In the current global financial climate companies involved in international trade need to be aware of how their marine insurance protection would act in the event of one of the following:

  • Insolvency of carrier, charterer or shipping company
  • Financial default of a buyer of cargoes
  • Financial default of your supplier and/or its marine insurance cover
  • Financial default on sovereign debt of a particular country or debtor nation/group of countries

The paper discusses general information with regards to the impact of events such as a financial default on marine cargo insurance policies and offers recommendations on key issues that brokers can discuss with their clients.