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Inflation driving marine insurance exposure concerns – Allianz

By 2022-11-22T15:37:00

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Marine insureds may need to adjust their policy limits to stave off the risk of underinsurance, says global head of marine risk consulting

Marine insurers are facing a significant hike in claims costs as inflation and rising exposures create a perfect storm.

Allianz Global Corporate and Specialty (AGCS) analysed more than 240,000 marine insurance industry claims worldwide between January 2017 and December 2021, worth approximately €9.2bn (£8bn) in value.

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