The emergence of so-called "fixed premium insurers" for marine insurance is a warning to mutuals against complacency, the Protection & Indemnity 2000 conference heard this week.
Fixed premium providers, such as Lloyd's, cover ship owners against both liability and physical risk, while mutual providers, made up mainly of 15 international clubs, insure against liabilities only.
Swedish Club UK general manager Frederick Kruse said providers' lack of sophisticated claims handling infrastructures, limited cover and drive for profits would hold them back.
But he warned mutuals against ignoring the climate of greater competition and called on International Group clubs to produce innovative new concepts.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
