What are the 10 golden rules for successful marine underwriting? What has changed?

The Old Library, Lloyd's
Thursday, 24 January 2019
1:10 pm – 1:55 pm
    • Dominick Hoare, Group Chief Underwriting Officer, Munich Re
  • Marine & Energy lecture

In this IIL marine & energy lecture Dominick Hoare discussed current underwriting dynamics, and the challenges experienced across the London insurance market since his now famous article published in October 2017 on LinkedIn.

In this article, Dominick identified his ten 'golden rules' for successful marine underwriting in the immediate aftermath of Hurricanes Harvey, Irma and Maria (HIM).

Dominick suggested that the impact of the 2017 catastrophe losses was so severe that many commentators saw these events as heralding a turn in the market cycle. However, the resilience of the market was such that the reaction was more akin to a 'dead cat bounce'.

During the course of 2018 other dynamics have come into play. There have been further catastrophe losses, capital market issues, and action within the Lloyd's market regarding the closing of the 'performance gap'. These dynamics are creating stress within markets as capacity exits.

In discussing these current issues, and looking into an ever murky crystal ball, Dominick went through each of his ten golden rules and how they may have changed in the last twelve months.

By the end of this lecture members would have gained an insight into:

  • Underwriting discipline in a transient market
  • The importance as an underwriter of being able to adapt to change
  • Lessons learned and how to use these when looking to the next 12 months and beyond

Chair:
Graham Prior ACII, Energy Underwriter, Travelers.

Venue
  • The Old Library, Lloyd's
  • One Lime Street
  • London
  • EC3M 7HA
View map

Registration & Security

IIL lectures are open to Lloyd's pass holders and CII and PFS/SMP members.
CII members must register online by 10.30am on the day of the lecture.
Lloyd's pass holders do not need to register for lectures held in The Old Library.
All attendees must produce photo ID - either a Lloyd's pass, driving licence with photo or valid passport.

Conditions:

  • Email confirmations and photo ID must be produced to security staff at the lecture venue
  • Attendance confirmations are non-transferable to any other person or lecture
  • All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

Please let us know what we can do to make our events fully accessible to you.

CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.