The Strait of Hormuz blockade, aging fleets, and persistent claims inflation are among the mounting pressures transforming maritime risk, according to Allianz Commercial.
What you need for a claims role is to be naturally inquisitive and analytical in the way you approach a claim. You need to look at things from a very process-forward analytical state.
Allianz report shows 75% decline in vessel losses over past decade, but warns new challenges from conflicts, cargo theft and alternative fuel transition could offset safety gains.
Rising tariffs create hidden insurance risks for U.S. importers, requiring updated cargo coverage strategies in an increasingly complex global supply chain environment.
Captain Rahul Khanna, global head of marine risk consulting, Allianz Commercial, sat down with Risk & Insurance® to talk about current market trends impacting the marine industry.
“It’s interesting to observe how quickly you can identify a serious student in the industry. From the very beginning, their curiosity and eagerness to learn stand out. They ask thoughtful questions, seeking to understand the intricacies of the business. Beyond just completing assigned tasks, they take the initiative to explore and absorb information from various sources.”
Despite navigating geopolitical conflicts and climate risks, the global marine industry saw a record low number of large vessel losses in 2023, according to the Allianz Safety and Shipping Review 2024.
The increasing size of wind turbines is perhaps the most striking change the industry has seen in recent years. In the past 20 years, they have almost quadrupled in height, from around 230 feet to around 853 feet — nearly three times taller than the Statue of Liberty.
Falvey does a lot of work in the life sciences, and a lot of pharma business is centralized in a couple of areas around the country — including some in Tennessee, which recently experienced very damaging tornadoes.
Lockton’s Taylor Knott is keen to help his clients succeed. That’s why he’s actively watching marine trends and working to best understand the risks at hand.