Yacht Insurance: How underwriters, brokers & buyers can find a safe and profitable harbour
This was the fourth in a series of joint webinars between the Insurance Institute of London and Munich Re aimed at improving members understanding of developments in the marine and energy market in today’s insurance world. This session gave an insight into some of the issues the yacht market has faced and how insurers needed to change price and appetite to enable continuation and capacity for all those in the distribution chain.
This Marine & Energy webinar provided an overview of the underwriting loss that impacted the London Market (and by correlation the rest of the world) and the action needed to put profitability back into the niche. The session covered:
- The expansion of the number of vessels and associated risks which have impacted insurers
- A real example of how soft pricing, increased exposure and CAT can impact any line business
- A summary that increased pricing, shrinkage of capacity and change of risk appetite whilst painful for all parties is ultimately to the benefit of all
By the end of this webinar members would have gained an insight into:
- How a line of business can run into loss
- How these losses can be remedied
- Premium growth, without associated underwriting discipline is not the answer
- Online event
You will be sent a confirmation email shortly after booking. If you have not received this within one hour, please contact Patricia Pedraza (020 7397 3911).
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.