Special Feature - Cargo Insurance: Asian Cargo Faces Mounting Pressure
Source: Asia Insurance Review | Sep 2008
Over the last decade the Asian cargo market has made marginal profits, and cargo has been the most consistent performer of the major classes, including hull, energy and property which have suffered major losses already this year. However, increased commodity prices and insurance capacity are putting pressure on the class, driving rates down and making it ever more important that underwriters maintain their underwriting discipline and forge strong relationships with their clients to help mitigate the current insurance downturn. Mr Lee Vanderson, Chief Underwriter and Principal Officer, Ascot Underwriting Asia, discusses the issues.
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